Journal of Business & Financial Affairs

Fraud Risk Management from the Perspective of Small Businesses

Abstract

Grant Richardson*

When it comes to reducing their exposure to fraud, small firms confront significant obstacles. Motivated fraudsters have plenty of opportunities to exploit small firms due to financial stress, rapid expansion, and a lack of resources and knowledge. In this post, we draw on our experiences as fraud investigators to provide seven useful suggestions to assist small business executives in preventing and identifying fraud in this particular setting. Even a small business can benefit greatly from these tactics when it comes to managing the risk of fraud.