Fraud and Financial Crime Management
Gain unparalleled protection from internal fraud and external financial crime. Meet compliance and regulations without complexity.
However small businesses feel the effects of fraud more acutely. It is particularly threatening to those who may lack the internal resources typically responsible for managing risks. Here are 5 things banks and financial institutions need to understand about small businesses fraud threats.
According to the Association of Certified Fraud Examiners (ACFE)...small businesses had the highest median loss of $150,000, while large organizations had a median loss of $140,000. Due to a small business’s scale, they are likely to feel the negative impact of a loss this size much more acutely than larger counterparts.
Quadrant Solutions Spark Matrix for Insider Risk Management 2023 reveals the top vendors for Insider Risk solutions. Organizations are trying to stop insider risk by identifying insider threats in real-time and investing in tools to help stop fraud before it happens.
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