Fraud ‘hits small firms for €100m each year’

WHITE collar crime is costing small businesses €100 million a year, research has revealed. But fear of negative publicity means many employers are keeping the bad news to themselves.

The latest research reveals that one in five firms which are hit by fraud has made no effort to bring the culprits to justice.

However, white collar fraud is “rampant” and a serious threat to business, Small Firms Association (SFA) director Pat Delaney said yesterday.