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Fraud in SMEs
Fraud is reported to affect 1 in 4 of small busines every year. The total losses amount to £18.9bn.
To protect your business from fraudsters you need to:
Know your customers
Know your employees
Know your suppliers
Know your assets
The British towns where fraudsters steal £1,203 per person
The residents of East Ham in Newham, London and Hatfield in Hertfordshire, have one thing in common – they are three times more likely to be impersonated by fraudsters than elsewhere in the country.
Sixteen people for every 10,000 living in East Ham and 12 for every 10,000 in Hatfield were victims of fraud in the past year, according to data compiled for Telegraph Money.
AKD Services has been working with CIPFA (the Chartered Institute of Public Finance & Accountancy) in the production of new guidelines to support their new Code of Practice on Managing the Risk of Fraud and Corruption. The principles provide a set of standards which can be applied in all public bodies, regardless of sector or size. They emphasise the importance of managing the risks of fraud and corruption in order to secure good governance and financial stewardship.
The guidelines are now available from CIPFA.