May 2016 | Publication No. 16-04
When someone is asked to describe ‘collusion’, a typical response may involve a scenario where firms are working together to fix the price of a product across a market. But the risk of collusion internally or with suppliers should be on the radar for every business. 

The 2016 Report to the Nations of the Association of Certified Fraud Examiners (‘ACFE’) shows that collusion occurs almost as frequently as fraud is committed by a single employee; and that, on average, the more people involved, the bigger the financial loss.

The good news? While collusion is a real risk, there are things that you can do to help prevent or detect it. There are some solutions that are relatively easy and cost-effective.