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Article: Small Business Owners Fighting Fraud, Bank of America Offers Tips to Help.
- Article from:
- PR Newswire
- Article date:
- July 31, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHARLOTTE, N.C., July 31 /PRNewswire/ -- America's leading small business bank is campaigning to raise awareness among small business owners of the financially devastating effects of fraud. As part of this effort, Bank of America has today released 10 tips that can prevent small business owners from becoming victims.
The need for these helpful tips is significant. According to the Association of Certified Fraud Examiners (ACFE) in its 2002 Report to the Nation, "Small businesses are the most vulnerable to occupational fraud and abuse. The average scheme in a small business causes $127,500 in losses." The ACFE estimates that U.S. businesses will lose six ...