Regardless of a company’s scale, every business faces susceptibility to employee theft in various forms. According to the CRA, an unsettling 75% of employees said they’ve stolen from their employer at least once. While the Association of Certified Fraud Examiners estimates that companies lose an estimated 5% of their total revenues to fraud, which includes employee theft. Our latest post delves into why companies opt for private investigative services and provides guidance on recognizing theft and understanding when the involvement of a private investigator is warranted.
The current global economic and geopolitical situation has created a multitude of challenges for businesses and individuals worldwide. The uncertainties surrounding financial stability and employment have heightened risks, increasing the potential for fraudulent activities that can further harm businesses. In this article we’ve compiled the most significant business fraud statistics for 2023.
Hiring a Corporate Investigator in Toronto should be taken very seriously as they will deal with private and sensitive company data and may be privy to corporate secrets once hired. Whatever your reason is for hiring a Corporate Investigator, the last thing you want is to make mistakes that can severely affect your business in the future. Below are the top tips when it comes to hiring Corporate Investigators.
In today’s business world, most upper-level management personnel and business owners believe that their organization is safe from fraud. Most are under the impression that their employees, co-workers, and possibly co-owners have only the best intentions for the organization. It would be ideal if that were true, however, that’s often far from the truth.
In our continuing series examining frauds that target corporation, we will examine a scam known as duplicate payment fraud. Duplicate payments may not always be attributed to fraud. In many cases, the duplicate payment may be caused by poor administration of a company’s master vendor file. Or a duplicate payment could be initiated through a billing error by the company who is owed the money. These errors are often detected and usually reconciled through communication between the vendor and the customer.
I have presented to many business people and organizations and the most common question I receive is, “Why would we be a target of online attacks”? There are many reasons; corporate espionage, your competitors, fraud, theft of customer and vendor information and the most common reason – ransomeware (the theft of your data for monetary gain).
As a 28 year veteran of the Vancouver Police Department, and 12 years spent in the Technological Crimes Unit, Mark recovered approximately $600 million in compromised financial data. He has provided crucial intelligence in relation to a number of high profile data breaches across North America, which resulted in the successful arrests of a number of global suspects.
Have you ever been the victim of employee fraud or theft? If so, you are not alone. A significant percentage of business revenue is lost yearly to employee theft. This loss is more significant in smaller organizations and should be addressed as soon as possible to mitigate losses. A working environment that discourages fraud and theft is key, and can easily be achieved by following the 8 tips below: