UK Reports Dramatic Increase in Employee Fraud

Recent figures released by the Fraud Prevention Service revealed a 52% increase in fraud committed by employees in the first half of 2012. The prevailing theory as to why businesses have experienced such a dramatic increase in theft from their own employees is that it is due to the economic downturn. Job insecurity, a lack of employee engagement and a sense of entitlement have also been mooted as possible causes.

What is clear is that internal employee fraud poses a huge risk to businesses, not just in the pure financial sense, but in terms of damage to hard-won reputations.