Fraud takes 5% of revenue1. Most businesses never see it coming.
Probity continuously monitors QuickBooks Online and your bank accounts for the vendor, payment, and payroll patterns behind employee fraud, so it’s caught early, when losses are smallest.
an estimated loss to occupational fraud worldwide every year
ACFE 2024 · p. 9Occupational fraud is common, expensive, and it hides in plain sight for a year or more.
Lost across the 1,921 fraud cases studied
ACFE 2024 · p. 9Average loss per fraud case
ACFE 2024 · 1,921 casesOf cases cost the victim $1 million or more
ACFE 2024 · p. 9Of victim organizations recovered nothing
ACFE 2024 · Fig. 60Every month it goes unnoticed, it gets more expensive
Certified Fraud Examiners estimate fraud takes 5% of revenue a year. The typical scheme runs 12 months before anyone notices. When an owner or executive is behind it, 24 months.
Even the median case costs $145,000, and $141,000 at companies with fewer than 100 employees.
Illustration only: 5% of revenue a year, accruing evenly while a scheme goes undetected. Your actual exposure will differ.
Source: ACFE, Occupational Fraud 2024: A Report to the Nations, pp. 4, 9, 15, 32, 75; Fig. 41 (p. 53).
Monitoring cuts losses in half, and catches fraud twice as fast
Organizations that proactively monitor and analyze their financial data lose half as much and find fraud in half the time. Most small businesses don’t have it. Probity provides it on the systems they already use.
Median loss per case
With vs. without proactive data monitoring
Median months to detection
With vs. without proactive data monitoring
of small businesses (fewer than 100 employees) use proactive data monitoring.
Source: ACFE 2024, Figs. 28–30 (pp. 40–44).
Mostly by a tip. Almost never by monitoring.
43% of frauds are uncovered because someone speaks up. Only 3% are caught by automated transaction monitoring, yet those cases were found in a median of 6 months with $83,000 lost. Cases found by an external audit ran 18 months and cost $227,000.
| Method | Share of cases |
|---|---|
| Tip | 43% |
| Internal audit | 14% |
| Management review | 13% |
| Document examination | 6% |
| Account reconciliation | 5% |
| By accident | 5% |
| External audit | 3% |
| Automated transaction or data monitoring | 3% |
Catch it in the first months, not the second year
Probity reviews every transaction, flags the patterns behind billing, payroll, and check fraud, and shows the full story behind each alert: who created the vendor, who entered the bill, who approved it, and what hit the bank.
Explore the platform- Vendor createdAdded by a.reyes · no tax ID on file
- Bill entered · $8,750.00Invoice #4471
- Bill entered again · $8,750.00Same invoice number, different date
- Flagged for reviewAlert sent to owner
Twelve patterns behind employee fraud, watched on every transaction
Most schemes don’t look like theft. They look like an ordinary bill, a routine payment, a new vendor. Probity looks for the patterns that give them away.
Billing
The same bill entered or paid twice, including resubmissions under a new date.
New vendors with missing details that start receiving payments quickly.
Bills paid with no purchase order or supporting document behind them.
Payments
Payments broken up to stay just under an approval limit.
Several payments to the same payee in a short window.
Money moving when nobody is usually working.
Books and bank
Money that left the bank with no matching entry in the books.
Big payments to vendors not set up for tax reporting.
Unusual payroll transactions and changes to normal pay patterns.
Patterns
Amounts or timing that break from a vendor’s own history.
Amounts that don’t follow the natural distribution of real transactions (Benford’s law).
Every vendor ranked by how far its activity drifts from normal.
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Continuous monitoring without adding headcount, with alerts your owner or controller can act on.
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