Why Fiducia
FiduciaSolutions is on a mission to dramatically reduce the risk of fraud and embezzlement at non-profit organizations.
The Problem
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.
Some notable headlines of fraud and embezzlement illustrate the ubiquitous nature of these crimes.
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.
Our Solution
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.
