Name:Could Your Business be the Next Victim of Fraud?
Date:October 19, 2016
Time:11:30 AM - 1:00 PM PDT
Our Fraud Prevention Discussion Could Save Your Business or Organization from Crippling Financial Hardship.
The Business Workshop @ Umpqua Umpqua Community Room
Wednesday, October 19, 2016
From EVP Chip-Enabled transactions to internal employee (or volunteer) fraud, the risk of loss to your business or organization could be financially crippling.
Consider these facts:
The median fraud losses cost an average $154,000 for businesses with less than 100 employees*
Small organizations, fraud costs 100 times more per employee than larger organizations*
Fraud happens more often to small businesses (28.8%) than larger businesses (19.8%)*
Nonprofits lose an average of five percent of revenue per year, amounting to $77 Billion*
75% of all business theft is internal**
88% of U.S. companies reporting fraud incidents resulted in lower financial performance**
Thirty percent of all business failures was a direct result of employee fraud***
Join Harold Smith, MBA (Umpqua Bank, Merchant Services) and me in an interactive discussion of what you need to do to protect your organization's financial future. Through our discussion, you'll learn:
1. How EMV Chip-Enabled debit and credit cards work, how it protects your transactions and what you need to do to prevent costly charge-backs. Also what you need to do to accept safe, online payments through your website.
2. Best practices for monitoring employee or volunteer expenses
3. Placing checks-and-balances into your financial accounting practices
4. Preventing cyber attacks including phishing and email hijacking
Looking forward to seeing you at what might be the single, most valuable hour or so invested this year.
* Association of Certified Fraud Examiners ** www.inc.com/guides/protect-against-fraud.html, based on statistics by PriceWaterhouseCooper (2009) ***Journal of Management & Marketing Research, "Impact of Crime on Business," Martin S. Bressler, Houston Baptist University citing information from the U.S. Chamber of Commerce (1995), undated