Conditions Right For Employee Fraud
With the economy in shambles and employers cutting jobs, pay, hours and benefits, the occurance of employee fraud is expected to rise, according to Securitas.
The New Jersey-based security provider said recent studies suggest that 5 percent of annual revenues are lost to fraud nationwide. Misappropriation, bribery, corruption and financial statement fraud are all more likely when employees are displeased with management, under pressure from financial problems and recognize an opportunity to steal.
Employees that work late consistently, are reluctant to take time off, remain in one job rather than advance and have business interests outside the company are all warning signs, Securitas said.
The firm said companies must closely scrutinize all financial information and be on the lookout for impatient vendors and customer complaints that are not settled in a timely manner.
WBJ Web Partners
Most Recent
Most Recent
0 Comments