The Inuit infographic above investigates the four different types of fraud that businesses, particularly smaller start-up companies, are susceptible to and the various impacts these fraudulent crimes can have.
As Inuit writes, "One out of four businesses have been victims of fraud, with an average loss of $50,000. Small businesses are disproportionately impacted because they typically have fewer checks and balances to prevent or detect fraud, making them ripe targets in the eyes of crooks."
The four categories outlined by the infographic are data fraud, embezzlement, online banking fraud and check fraud. The descriptions and statistics that accompany these types of fraud are outlined in the infographic, as well as strategies these companies can use to avoid becoming targets of fraud.
Business Fraud Diagrams
This Inuit Infographic Shows Fraud's Impact on Independent Companies
Trend Themes
1. Business-fraud Prevention - Opportunities for companies to develop innovative fraud prevention strategies to protect their smaller start-up businesses.
2. Data Security - Opportunities for companies to offer data security solutions to prevent data fraud, embezzlement and online banking fraud.
3. Digital Banking - Opportunities for companies to create safe and secure online banking platforms to prevent check frauds.
Industry Implications
1. Cybersecurity Industry - Opportunities for cybersecurity companies to offer innovative solutions that can help businesses safeguard their finances and data.
2. Financial Industry - Opportunities for finance companies to innovate and offer fraud protection solutions to smaller businesses.
3. Banking Industry - Opportunities for banking companies to innovate and offer secure online banking platforms to prevent check fraud.