Control the Fraud out of Accounts Receivable

The 2016 Global Fraud Study by the Association of Certified Fraud Examiners (ACFE) reveals that the typical organization loses 5 percent of revenues in a typical year as a result of fraud. The median loss for all cases is $150,000, with nearly one-quarter (23.2 percent) of cases leading to losses of $1 million or more. For-profit organizations suffered the largest median losses among the types of organizations analyzed, at $180,000 for privately held and $178,000 for publicly owned…