OCCUPATIONAL FRAUD STILL AFFECTS MANY BUSINESSES

The more things change, the more they stay the same. This saying applies to many things, including fraud perpetrated against businesses by their employees. Occupational fraud comprises three basic categories. First, there’s asset misappropriation. This is theft or misuse of any business asset, but it often involves cash. The second category is corruption, where dishonest employees in positions of influence engage in schemes such as collusion and kickbacks. The third category is financial statement fraud. Here, perpetrators falsify financial statements to either hide poor performance or commit outright theft. Contact us for help fighting occupational fraud within your company.