According to the Association of Certified Fraud Examiners, companies lose 5% of their annual revenues to fraud which translates to approximately $1 trillion in losses each year! Small businesses (less than 100 employees) suffer higher instances and higher losses ($150,000 average) than larger companies. Unfortunately, we’ve heard many horror stories of fraud in the contracting industry over the last 10 years. There are 5 common types of fraud perpetrated by employees. See how they occur in our industry and learn procedures you can implement to reduce your chances of becoming a victim of fraud.