Employee Fraud Costs Millions
Fraud costs businesses billions of dollars, but that estimate reflects only the cases that are detected - a mere 10-15 percent of all fraud committed in businesses across the country. A recent national survey of cooperatives by Frank Messina, DBA, CPA, and Richard Turpen, Ph.D., CPA, in the UAB School of Business discovered that the incidence of fraud is most prevalent at the customer-service level and most often is perpetrated by trusted employees. How is fraud detected and what should businesses do to protect themselves? Call Nicholas Patterson, Media Relations, 205-975-8858, or e-mail [email protected].
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