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Commercial Advice Centre > Managing Business Risks > Fraud Prevention

Fraud Prevention

Fraud Prevention

According to the Association of Certified Fraud Examiners, the average cost of an incident of fraud to a small business is $97,000—and that doesn’t take into account associated costs such as loss of reputation or customers.  And it happens more often than you might think.

James Hunter, president KPMG Forensic and Jay Stark, VP, Fraud Management, RBC Royal Bank® discuss how to combat different types of fraud, with tips such as fighting internal fraud with rigorous employee screenings, a positive company culture and strict cash handling procedures (“keep your hands on the cash”).  They also teach you how to recognize warning signs.

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