As many businesses learn the hard way, fraud, undoubtedly, is on the increase. In the UK alone, for the first time since 2011, the value of fraud committed in the UK last year topped £1bn; a 55% year-on-year rise.
The figures speak for themselves. Fraud can and will happen to any type of business in many different ways, no business is too small to be targeted. Whether it’s the accumulated £900m from the ‘super cases’ or the £18.9bn of fraud losses by SME’s, the revenue, reputation and long-term health of your business could be at risk unless you take action.
Whilst industries, size and revenue differ, one common denominator runs throughout - fraud isn’t going anywhere.
Prevention is key but detection is vital.