A survey conducted by CPA Australia shows that at least one in four small businesses are affected by fraud. Employee fraud was the most common type reported, with 10 per cent of small entities indicating they had suffered as a result of employee fraud. Other fraud incidences suffered by small entities included loss of funds from bank accounts (7 per cent), credit card fraud (7 per cent), supplier fraud (4 per cent) and internet fraud (3 per cent).
Comment on whether fraud is just part of the cost of doing business. Should this cost be passed on to customers? If so, does that make fraud a personal loss or one for the community generally?