Wake-Up Call

If you're waiting for employee fraud to land on your doorstep, you just might get what you aren't actually prepared for.

Surprisingly, many business owners gamble with this fraud risk, or haven't stopped to consider that it could actually happen to them. With losses due to employee fraud now reportedly having doubled annually, now is not the time to throw the dice.

A recent article by londonlovesbusiness.com expands on this. "New data obtained by RSM under the freedom of information act has found that reported business losses from employee fraud have doubled in the last year. The data, obtained from ActionFraud, the UK’s national fraud and cyber-crime reporting centre, reveal that businesses reported £88m in losses from corporate employee fraud in 2017-18, more than double the reported £40m lost in 2016-17. In total, businesses submitted over 1,418 reports to the police about corporate employee fraud in 2017-18, a rise of 76 per cent on the previous year."

"With the right controls in place, businesses should be much better at detecting and preventing fraud." Read the full article HERE.


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