Employee theft costing companies £50m a year

15-03-2007

Employee theft costing companies £50m a year
UK business is loosing over £50 million a year through fraudulent employee activity.

Research by consultant Protiviti has revealed that more than 3 million workers (one in ten) have admitted to various forms of stealing from work, personneltoday.com reports.

Women fared better than men, with 9 per cent defrauding their employers compared to 15 per cent of male workers. London was particularly bad for corporate crime, with one in five employees in the capital admitting to theft of some kind.

Simple stealing accounted for much of the crime, but a large proportion was made up of bribe taking, account adjusting, intellectual property theft and the fiddling of expenses.

Sean Holohan, Protiviti director, said: "Most fraud in the UK goes unreported as businesses seek to settle matters away from the public eye, or goes undetected because processes and controls are just too weak.

"This should serve as a warning to employers that they need to have robust systems in place to mitigate fraud risk at all levels."


Related categories: HR / Recruitment.


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