On average, a single incident of fraud cost $441,000 in the manufacturing sector, according to the Association of Certified Fraud Examiners' 2008 Report to the Nation on Occupational Fraud and Abuse. That's higher than the financial services industry and the highest of any sector with high incidence of fraud.
With today's economic climate hurting many manufacturers, it's more important than ever that companies take aggressive measures to prevent fraud that costs organizations an estimated seven percent of their annual revenue.
Source: Industry Week
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