A first of its kind report on fraud was released yesterday by the Canadian Federation of Independent Business. In it, it was found that not all victims of fraud or an attempted fraud reported it to law enforcement. Elliot Sims with the CFIB shares here why it’s important that they do.

“Right now, 40% of small businesses aren’t reporting fraud to either law enforcement officers or other organizations such as the Better Business Bureau to make sure that these types of fraud, the authorities are made aware of them and other businesses aren’t impacted by them.”

Sims says training staff to recognize various types of fraud is one of best ways businesses have to avoid becoming victims.