TraceTech Solutions, LLC 

helps small businesses

to monitor for and detect

FRAUD

Face it.  Small-business fraud is a big business.

In April, 2010, the operator of three Kentucky non-profit organizations serving the developmentally disabled pleaded guilty to stealing $667,000 from them.  Among other things he bought an airplane hanger, two cars, a motorcycle, a recreational vehicle and two SUVs with the money.


In January, 2010, the former Accounting Manager at Boston's WBGH was found guilty of stealing $500,000.  He used corporate accounts set up to pay vendors to pay personal expenses on corporate and personal credit cards.


In February, 2010, a Connecticut paralegal was found guilty of stealing $1.7M from her employer.  She wrote checks to herself from client funds accounts.

Small businesses lose about 7% (or about $100,000) of their annual revenue to fraud. 

And they don't even know that it's happening!

The best way to deter fraud is to improve financial controls.  Small businesses, though, often lack the resources or the inclination to do that.  Small business accounting functions, for example, are usually left to trusted employees and performed with little oversight. 

That can result in some pretty big fraud losses

Owners also have the option of purchasing fraud riders on the business' insurance policy.  Few owners do, though.  And those that do are covered for only about $30,000 of fraud loss.

That could leave a gaping loss should fraud strike

TraceTech Solutions offers a third alternative...

TraceTech Solutions

For a very affordable fee TraceTech Solutions monitors a small business for fraud by periodically scouring the business' financial records for the "odd" transactions and trends that are typically left behind by many common small-business fraud schemes.  These are "clues" that can help to identify fraud schemes, fraud losses and fraud perpetrators.

As part of its Fraud Checkup service, TraceTech applies its proprietary, field-proven software to run up to fifty different tests on a business' financial records including:

• bank statements
• credit card statements
• payroll reports
• general ledgers
• inventory reports
• employee lists and
• vendor lists.

Each test is designed to uncover the traces left by one or more well-known, common fraud schemes.

TraceTech reports those odd transactions and trends to the owner for action and (perhaps) follow-up investigation.  Click here to learn more about TraceTech's technology and how TraceTech applies that technology to uncovering fraud.


As an added benefit, surveys have shown that the risk of fraud plunges when employees know that their work is being monitored.  So just the act of "looking" serves as a powerful fraud deterrent.

TraceTech Solutions is the "second pair of eyes" that small-business owners need to help deter and detect fraud.  We can help owners to put a lid on fraud before it does further damage.

To Our Visitors

In addition, since so many business owners underestimate the scope and impact of fraud, this site also includes educational material about small business frauds in general.  The breadth and creativity of fraud schemes makes for very interesting reading.