The high cost of fraud: an infographic

Smart practice

Monday 25 July 2016

How Australian business is losing out to fraudsters

Fraud is all around us.

The digital age has opened up new and wonderful opportunities for innovative businesses. But it has also opened up new and wonderful opportunities for innovative fraudsters: from ransomware to phishing emails and from payroll fraud to credit card scams.

So what should you - and your business - be concerned about? Where are you most vulnerable? And what steps can you take to stay safe?

Our infographic reveals all.

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Unless stated otherwise, this information has been prepared by Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502 and does not take into account your client’s objectives, financial situation or needs. 

This information is provided for the use of licensed and accredited brokers and financial advisers only. In no circumstances is it to be used by a potential client for the purposes of making a decision about a financial product or class of products. 

Sources:

High cost of fraud

KPMG Fraud Barometer: The Face of Australian Fraud 2015, PWC Global Economic Crime Survey 2016

Where Australian Businesses are vulnerable

Australian Government Institute of Criminology, Computer Security Threats faced by Small Business in Australia

Your clients are at risk too

Australian Government, Institute of Criminology, Australasian Consumer Fraud Task Survey 2015

How we’re targeted

ACCC Targeting scams: Report on scam activity 2014

How you lose money

scamwatch.com.au