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A 2020 fraud survey estimated that the total cost of company fraud in the US to be about $7 billion in a year.
Many fraudsters use the internet as their primary mode of trade. Therefore, business owners should invest in better cybersecurity systems and programs to protect their companies from cybercrime.
MORE IDEAS FROM THE SAME ARTICLE
Sometimes, employees steal cash or valuable data or use company assets for their benefit. This is considered the misappropriation of company assets.
Fraudsters aim to find weak links and vulnerabilities in your business systems from where they can stage their attack.
Scammers persuade businesses to give them sensitive information or make payments. Then they get access to unauthorised business email accounts, monitor the company's activities and impersonate the stakeholders.
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Important stuff regarding online scams.
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