Workplace Fraud Cost $3.2B Last Year

Fraud in the workplace cost Canadian small businesses $3.2 billion last year, an accountancy group says. The report published Tuesday by the Certified General Accountants Association of Canada (CGA) found some 290,000 small and medium-sized enterprises were victimized by some sort of occupational fraud last year.

The survey of firms with less than 500 employees found that one in four, or 26 per cent, of companies had been cheated by an employee. The most common examples would be misappropriation of either company assets and inventory, or straight cash.

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Posted Under: Canada

Post By Barry Nixon (262 Posts)

W. Barry Nixon is the COO, the leading background screening information portal and online worldwide directory of professional background screening firms and Suppliers to the background screening industry. He co-authored the landmark book, Background Screening & Investigations: Managing Hiring Risk from the HR and Security Perspective. He also is the publisher of award winning newsletters, The Background Buzz and The Global Background Screener, and the author of the Background Checks column in PI Magazine.

In addition, Barry is a past recipient of the elite ‘Top 25 Influential People in Security’ by Security Magazine and past Co-Chair, International Committee for the National Association for Professional Background Screeners (NAPBS). He currently serves as a Global Ambassador for NAPBS.

You can contact Barry at 1-949-770-5264 or online at