Expense fraud ranks as the most common type of staff fraud. With an estimated 7% of revenues usually lost to fraudulent activities around the world, this fraud accounts for 15% of all the fraud uncovered. Employees will seek to benefit at the expense of their manager for one reason or another. But each inappropriate expense […]
Recognize and Mitigate Expense Fraud in Business Read More »
In any organization, expense reimbursement fraud can happen in a number of ways. So, which type of organization is most vulnerable and what are the best practices organizations can adopt to reduce the risk of fraudulent claims? Fraud can happen even in organizations with company wide expense reimbursement policies. If someone is not taking a
Corporate Travel Expenses: Ways to Spot Fraud Read More »
In continuation to our previous post, this article outlines some more strategies to prevent expense fraud. Let’s take a look at some of the best strategies: Mandating Pre-approval Process Pre-authorization reduces the possibility of expense fraud. Pre-approval system works in conjunction with a corporate card or travel booking solution and helps improve visibility over the
Preventing Business Expense Fraud – Part 2 Read More »
