A national survey by PriceWaterhouseCoopers found that 48% of businesses in the UK were victims of fraud in 2007*. But when asked whether or not they thought that they would be victims, only 17% of UK businesses thought they would.
This alarming statistic indicates that businesses in this country are underestimating the threat.
Research has also found that 13% of businesses expect to lose 5% of their revenue to fraud. 5% doesn't sound much until you consider that this travels straight to the bottom line and, for a fairly typical business that is earning a net profit of 10% of sales revenue, that 5% cuts the profits in half!
It isn't just big businesses that fall victim. In smaller, owner managed businesses, control is less formal; things are taken on trust. But, a fraud in a smaller business can destroy the whole business.
Fraud isn't going away; it's becoming more of a problem and in tough economic times the risk rises. Preventing fraud needs to be at the core of any recession survival plan
To get FREE tips on how to protect your business from fraud, click on the link or, if you want to know more or want us to carry out a fraud risk review, contact us.
Protect yourself from fraud
12 month fraud reduction plan
Telephone: 01977 552881 
Email: web@hansons.uk.com