Padding Travel Expenses Is a Problem on the Rise

“A report last year by the Inc. Business Owners Council, an organization of family business owners, found that business fraud, over all, increased by two-thirds from 2006 to 2009…“For many companies, it’s like being nibbled away by little piranhas rather than being eaten by a big shark.

The Padding That Hurts

“When it comes to upper management, there is no such thing as an immaterial fraud; an executive who cheats on his or her expense account may also cheat—big-time—on the company’s financial statements.”

Kansas City employee pleads guilty to $200,000 equipment theft

“The 40-year-old Odessa man admitted to stealing laptop computers, docking stations and other equipment, which he then sold on eBay.”

Are Employees Stealing from You?

Every year billions of dollars are lost by businesses nationwide to employee fraud and theft and the number of incidents are rising. If your business is small, you’re especially vulnerable to occupational fraud and less able to absorb a loss than a larger business; in fact, it is not unusual for a small business to be bankrupted by the theft of a single employee.