How much is fraud costing your business?

In hard times, fraud in the workplace increases and businesses tend to lose out according to a new survey released this month by KPMG. The survey identifies a rise in employee fraud to just over £25 million in the year ending December 2011 with the biggest contributors being management and employees who see the business that they work for as a fair target. The fraud increases with the size of the firm with larger businesses losing more than smaller but across the board the fact is that fraud is affecting businesses.

As well as employee theft there has also been an increase in fraud against the Government, who are seen as a fair target by some, and against investors with a surge in Ponzi schemes designed to part investors from their cash.

Overall the survey concludes that some individuals in businesses and homes across the land are unwilling to join in the ‘austerity’ being prescribed by the Government and feel that helping themselves to employers or Government money is a more preferable route than tightening their belts. In extreme cases this has resulted in businesses being placed into Administration and the loss of jobs.

So what do you do if you feel that someone is stealing from your business? The simple answer is that you may need the help of a private detective to provide you with the evidence you need to stop the thefts. Using a professional detective agency will give you the peace of mind that if theft is occurring you will have legally obtained evidence that will stand up in court meaning that you can dismiss the dishonest individual and prosecute them.

Everyone has at one time or another picked up a pen from work and taken it home and whilst this is technically theft it is not something an employer would worry too much about, but when members of staff think it is appropriate to help themselves to stock, fuel from company vehicles or fraudulently obtained funds then action must be taken.

If you are concerned in any way about fraud in your business talk to Insight and let us help you, contact us on the number below or use our contact us page to get in touch.

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