by Nancy Adams

If it seems like fraud is affecting everyone, it may just be because it is. From local small businesses to multi-national corporations, no one is immune. And not only are the number of occurrences high, the actual cost to the businesses is too. Considering that the typical organization loses seven percent of its annual revenue to occupational fraud, the numbers are not to be taken lightly.

The numbers below tell a startling story and offer a real wake-up call for any business owner.

The bad news is seemingly every type of business is susceptible, so it’s important for companies to be aware of this very imminent threat. The good news? Recognizing the possibility of fraud is the first step in prevention. After all, forewarned is forearmed.

2 — Number of years the typical fraud goes on, from the time it starts until it is caught

$9 — Cost per employee per day of fraud in an average organization

50 — Percentage of fraud committed by accounting or upper management

60 — Percentage of cases that reported losses in excess of $100,000

$175,000 — Median loss incurred in a typical fraud case

+ $1,000,000 — Amount lost in 25percent of all fraud cases*

$400 billion— Annual cost of privilege and abuse fraud to U.S. organizations

*Statistics drawn from the 2008 Association of Certified Fraud Examiners study.

From local businesses to multi-national corporations, no one is immune to fraud. Occurrences and cost is on the rise; here’s a look at the actual numbers.