Page 30 - Fall 2020 John Massey School of Business Newsletter

Abstract
Shoplifting, fraud, embezzlement, and
now cybercrimes are only a few of the many types of crimes business owners lose sleep over. Business owners lose profits and small businesses are affected to any even greater extent. Small businesses often lack the resources to defend their business against various criminal activities. The U.S. Chamber of Commerce reports that as many as 30% of small business failures could be attributed to embezzlement or employee theft. And to make matters worse, thieves are becoming more sophisticated in the use of high-tech tools to steal. In this paper, the authors provide an overview of current criminal activity and offer several ways to address the situation.