ON THE GUARD AGAINST EMPLOYEE FRAUD

With all employers have to do on a daily basis, one thing you would think they need not worry about is employee fraud. Think again. As it turns out, employee fraud is something that more and more employers have to combat, especially in these days of economic stress in the nation. According to a report several years back from the Association of Certified Fraud Examiners, U.S. businesses lose some 5 percent of their revenue due to employee fraud, with the median loss coming in at around $160,000. If your company is wondering what it might be up against, there are a number of different fraudulent scams that employees will try and get away with. They include:

Monetary theft – The most common of problems, this can involve an array of scenarios, including employees diverting company funds into their own accounts, padding expense reports, and literally taking cash from an office …