Employers of all sizes lose a projected 5 percent of annual revenues because of fraudulent activities, committed by 42 percent of employees, 38 percent of managers, and 18 percent of owners and executives, according to a study by the Association of Certified Examiners.

The study finds that most fraudulent activity happens within the 23 million small businesses, and these employers account for 54 percent of total U.S. sales and provide 55 percent of all jobs.

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