Billing fraud is the most common type of fraud that small businesses experience, accounting for 27% of all fraudulent activity.
Billing fraud primarily occurs in one of three ways, when employees:
While employees may justify their illegal actions due to need or entitlement, billing fraud ends up costing small businesses billions of dollars every year.
Starting a new business is one-part passion and two-parts paperwork.
Entrepreneurs can quickly get overwhelmed by the vast federal, state, and local requirements in place to regulate the formation of new businesses. Furthermore, focusing on requisite steps can distract new business owners from asking astute questions and doing critical market research to hone their business ideas.
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