Employee fraud and dishonesty take a toll on business of all sizes. This week, I provide a list of concerns that should be investigated to protect your business from occupational fraud.
Employee dishonesty can be damaging to both your business’ bottom line and reputation. Occupational fraud can result from theft of money, securities or other property of the employer. A recent report from the Association of Certified Fraud Examiners (ACFE) found that the typical organization loses an estimated 5 percent of its annual revenues to occupational fraud. In that same study, the ACFE found the median loss caused by occupational fraud was $140,000. This is a loss no business or organization can afford. (more…)