FiduciaSolutions is on a mission to dramatically reduce the risk of fraud and embezzlement at non-profit organizations.
Fraud and embezzlement crimes affect thousands of companies each day and millions of dollars are stolen from charitable organizations and business owners every year. In a survey completed by the Association of Certified Fraud Examiners (ACFE 2014):
- The typical organization loses 5% of revenue to fraud/embezzlement annually.
- The average loss suffered was $145,000 and lasted 18 months.
- Of the cases noted in the survey, 22% were in excess of $1,000,000.
- The smallest organizations tend to suffer disproportionately large losses due to occupational fraud.
To gain an understanding of the extent of this problem, a compilation of news articles between 2006 and 2013 reveals more than $23 Million stolen.
With over 20 years experience designing financial control systems for Fortune 500 companies and nonprofits, we at FiduciaSolutions© have developed an inexpensive, easy to implement, sustainable process that helps protect the assets and reputation of your organization against the risk of fraud and embezzlement.