Small businesses lose more per fraud case than large firms — and it often starts from within.

Many small business owners believe that fraud is a problem reserved for larger corporations. They assume that because their operations are smaller and they have fewer employees, fraud isn’t a real threat. But here’s the truth: Small businesses are actually more vulnerable to fraud than they realize — and they lose more per fraud case than larger firms.

In fact, small businesses lose an average of 5% of their annual revenue to fraud, according to the Association of Certified Fraud Examiners (ACFE). For a small business, that can mean thousands, or even millions, of naira in lost profits, often coming from trusted employees or vendors. The truth is, fraud doesn’t discriminate based on size. Whether you’re a small startup or a major corporation, fraud can strike at any time, and it often begins from within.

Small businesses tend to have fewer resources to dedicate to fraud prevention, which makes them an easy target. Limited staff, tight budgets, and less sophisticated controls create a perfect storm for fraud to thrive. Without clear internal controls and regular audits, it becomes much easier for fraud to go unnoticed — often until it’s too late.

But here’s the good news: fraud prevention doesn’t have to be expensive or complex. There are low-cost, high-impact tactics that can significantly reduce your risk of fraud. This week, we’ll be diving into simple yet effective fraud prevention strategies that every small business can implement — no matter the size or budget.

At Networth Adjusters, we specialize in providing tailored fraud prevention solutions for businesses of all sizes. We help you strengthen your internal controls, identify potential vulnerabilities, and put measures in place to protect your hard-earned revenue.

Don’t wait until it’s too late. Take action now to protect your business and your bottom line.