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This report examines the impact of fraud on small businesses in Canada.
One in five Canadian small businesses were victims of fraud in the past year, costing the average business approximately $6,200.
The report also shows the damage caused by fraud goes beyond financial, extending to losses in time and productivity, in addition to causing significant stress and having a negative impact on staff morale.
While small businesses have some protective measures in place, spending an average of $2,900 on fraud prevention in the past year, the report recommends that companies be more proactive, including actively training employees to identify scams.