Stopping fraud and internal theft at companies is a high-stakes effort, with failure to stop criminals potentially leading to devastating financial losses.
Corporate compliance programs aim to prevent violations of the law or company rules.
Employee malfeasance comes in many forms and company compliance programs, while important, do not stop employee misconduct.
Dealing with internal employees’ crimes in a timely and proactive manner can keep the problems contained and the damage minimal.
Watch out for embezzlement and financial fraud at tax time – and any time.
Companies in the U.S. lose a total of $50 billion to employee theft every year, according to CNBC.
No matter how it happens, identity theft can hurt your company and its employees. Investigate first and take action.
There are several ways employee fraud can play out today, and companies should be ready.
Use investigations to track down possible problem employees and rout out fraud before it happens.
Kickback schemes can play out before your company knows it.