Workplace fraud is emerging as a serious problem for Australian businesses with one in five companies affected by crime without even realising about it, according to a recent news.com.au posting.
The article refers to research that estimates the cost to the community of corporate fraud is well over $14 million a year; another study on the same topic has found fraud incidents have increased from 27,657 in 2004 to 65,000 in 2006.
Common fraud incidents include: employees lying about their experience or qualifications to get a job; timesheet embellishment; misusing computers and company files; abuse of sick leave entitlements; inflating expense claims; and stock shrinkage.
Workplace law experts quoted in the article recommend companies of all sizes implement fraud-reducing strategies, call in forensic accountants if they suspect dishonesty and always check the details of a prospective employee's CV before taking them on board.
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