#34 How Fraud Happens in Small Businesses (And How to Prevent It)

Fraud doesn’t just happen to big corporations—it happens to small businesses every day. And most business owners don’t see it coming.In this episode, Nicole Alicea sits down with retired banker Cynthia Weiss to uncover how fraud actually happens inside businesses—and the simple mistakes that leave companies exposed.From internal embezzlement to vendor scams and wire fraud, Cynthia shares real-world examples and the exact financial controls every business should have in place.In this episode, you’ll learn:• The most common ways businesses lose money to fraud• Why small businesses are especially vulnerable• How internal employees can (intentionally or unintentionally) create risk• The importance of separating financial responsibilities• Why wire transfers are one of the biggest dangers• The systems and processes that protect your businessIf you think “this won’t happen to me,” this episode will change your perspective—and help you protect what you’ve built.Produced by David “Fingers” Bell and Nicole Valentin Alicea.