Organizations around the world – both large corporations as well as small businesses – lose an estimated 5% of annual revenues to fraudulent activities, according to a study conducted by the Association of Certified Examiners (ACFE) with 42% of fraudsters being employees, 38% managers and 18% owner/executives. A great majority of this fraudulent activity occurs within the 23 million small businesses in the U.S. that account for 54% of all sales and provide 55% of all jobs. Small businesses in particular are extremely susceptible to employee fraud as they often lack the anti-fraud controls or policies found in larger organizations. Businesses are urged to take steps to minimize the impact of fraud by evaluating their employee screening process and by implementing anti-fraud policies and controls. Other tips include:conduct a thorough background check that goes back over the past seven years on all employees before hiring to see if there is a criminal history;with a signed release, check their credit report for any fiscal irresponsibility; and institute anti-fraud controls to monitor all employee activity.