4 ways to minimize employee fraud and theft

Posted On Dec 18 2020 by

first_imgUnfortunately, we live in a world where businesses, and people in general, have to be prepared for the possibility of a robbery or theft. For a business owner, it can be hard to think about your trusted employees engaging in dishonest or fraudulent activities that could harm your company, but the fact of the matter is, it happens more often than you think. Here are some of the cold hard facts from the 2016 Report to the Nations on Occupational Fraud and Abuse:Typical organization loses 5% of revenues in a given year as a result of fraud.The median loss for all cases in the study was $150,000, with 23.2% of cases causing losses of $1 million or moreThe median loss suffered by small organizations (those with fewer than 100 employees) was the same as that incurred by the largest organizations (those with more than 10,000 employees)More than three-fourths of the frauds analyzed were committed by individuals working in seven key departments: accounting, operations, sales, executive/upper management, customer service, purchasing, and finance continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more