Tag: employee dishonesty

Expense Report of the Future Reduces Fraud and Headaches

Expense report on a digital tablet with paperwork

It sounds like it should have been impossible to miss, but it took more than a year for an industrial equipment company to discover $12,000 worth of doggie day spa charges on an employee’s expense reports. Level upon level of corporate management also failed to detect that the same employee was running a scheme to… Continue reading Expense Report of the Future Reduces Fraud and Headaches

Hiscox Study Reveals 79% of Embezzlement Schemes Involve Two or More People

Male hands counting dollars, black salary, money laundering, illegal business, stock footage

Hiscox, the international specialist insurer, today released the 2018 Hiscox Embezzlement Study™: An Insider’s View of Employee Theft, which found that 79% of embezzlement cases involved two or more people. The study also revealed that 70% of embezzlement schemes were carried out for more than one year. This is the fourth iteration of the annual… Continue reading Hiscox Study Reveals 79% of Embezzlement Schemes Involve Two or More People

DOJ Probing Wells Fargo’s Wholesale Banking Unit

3D illustration of private investigator files with the words investigation and fraud

The Justice Department is probing whether employees committed fraud in Wells Fargo & Co.’s wholesale banking unit, following revelations that employees improperly altered customer information, people familiar with the matter said. The Wall Street Journal previously reported that some employees in the unit added information on customer documents, such as Social Security numbers and dates… Continue reading DOJ Probing Wells Fargo’s Wholesale Banking Unit