Because of advances in technology, commercial fraud has become increasingly easier to commit. In a survey last year by PricewaterhouseCoopers, 56 per cent of companies surveyed reported being victims of economic crime in the previous 12 months, compared with 46 per cent in 2003.

But, there are steps you can take to limit the number and impact of fraud cases. Mathieu Piché-Messier, a partner in the Montréal office of Borden Ladner Gervais LLP, says that once fraudulent activity has been detected, “you've got to act right now.”

He adds, “The following 24 or 48 hours after you discover the fraud are the most important by far.”