Expenses fraud is seriously expensive. It’s estimated to be costing the US economy alone close to $3bn a year.
But the impact of bogus claims goes far beyond the financial loss suffered.
We’ve all seen news stories about employees who fraudulently acquired company funds to fuel lavish lifestyles – until they are caught.
The ensuing publicity can cause organizations public ridicule, and ultimately lead to loss of investor confidence.
Other instances of fraud occur because organizations don’t have clear rules in place, leading staff to unknowingly claim for things they shouldn’t.
For employees in finance teams whose responsibility it is to approve the expenses, failing to stop the fraud (be it inadvertent or deliberate) can result in severe personal consequences.
This white paper, 10 Ways to Avoid Business Expense Fraud and Abuse, clearly and succinctly outlines the most common types of expense fraud. Download it now to find out more about ways your organization can reduce and even eliminate the risk of being exposed to it.
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