Nearly 300,000 Canadian small businesses hit by fraud

~ March is Fraud Prevention Month, is your business fraud savvy? ~

VANCOUVER, March 21, 2012 /CNW/ - Workplace fraud in Canada is a disturbing reality that costs small and medium-sized enterprises (SMEs) billions of dollars each year. Nationally, one quarter of Canadian SMEs were hit by fraud in the past year, according to a recent report from the Certified General Accountants Association of Canada, (CGA-Canada), Does Canada Have a Problem with Occupational Fraud?

In support of Fraud Prevention Month, CGA-Canada commissioned a video on workplace fraud which draws attention to the widespread issue. It demonstrates how businesses need to be aware of the unpredictability of the potential fraudster.

CGA-Canada encourages SMEs to have measures in place to detect, deter and prevent fraud which includes having a fraud response plan. A whopping 80 per cent of SMEs do not have a fraud response plan in place. The association has provided five top fraud prevention tips to businesses which include raising awareness in the workplace, spotting the warning signs, catching the potential aggressor, developing a fraud response plan and stopping fraud at its source.

For more on workplace fraud visit: www.cga.org/canada/fraud

ABOUT CGA-CANADA

Founded in 1908, the Certified General Accountants Association of Canada serves 75,000 Certified General Accountants and students in Canada and more than 90 countries. Respected accounting and financial management professionals, CGAs work in industry, finance, government and public practice. CGA-Canada establishes the designation's certification requirements and professional standards, offers professional development, conducts research and advocacy, and represents CGAs nationally and internationally.

Visit us online: www.cga.org/canada Find us on Facebook: www.facebook.com/cgacanada Follow us on Twitter: www.twitter.com/cgacanada

Video with caption: "Fraud Prevention Month, Workplace Fraud in Canada". Video available at: http://www.youtube.com/watch?v=VpPBlZwmjRg&list=UUJy8Fng9NrQrPqgB3I-MsnQ&fea

Taylore Ashlie
Director, Communications
CGA-Canada
Telephone: [phone]
Cellular:  604-307-0212 
Email: [email protected]

Diana Sorace
Communications Advisor
CGA-Canada
Telephone: [phone]
Cellular:  604 551-4487
Email: [email protected]