header-logo header-logo

23 June 2023 / Rakesh Kapila
Issue: 8030 / Categories: Features , Profession , Expert Witness , Fraud , Employment
printer mail-detail

The cost of employee fraud

127484
Employee fraud is on the rise: Rakesh Kapila considers some examples & highlights the forensic accountancy techniques which may be deployed when investigating it
  • Examples of employee fraud and its cost to employers.
  • How employers can minimise risk of fraud.
  • Forensic accountancy techniques.

Employee fraud represents an important component of white-collar crime, and is likely to continue to be significant in the current economic climate. Data obtained by RSM UK from the City of London Police suggests that there was an increase of around 10% in the number of reported corporate employee fraud cases in the UK during 2022 in comparison to 2021.

This article provides examples of various types of employee fraud, how each category of fraud impacts on the finances of employers, key ways in which employers can minimise the risk of fraud, and the techniques deployed by forensic accountants in investigating such fraud.

Types of fraud

Misappropriation of assets

The misappropriation of assets can include the theft of cash, stock or equipment, with employers

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Shakespeare Martineau—Marie Bourke

Shakespeare Martineau—Marie Bourke

Shakespeare Martineau strengthens Sheffield regulatory practice with new hires

Sackers—Louise McRae & Annabella Hwang

Sackers—Louise McRae & Annabella Hwang

Sackers recruits new associates

McHale & Co—Shaun Little & Patrick Byrne

McHale & Co—Shaun Little & Patrick Byrne

Firm bolsters senior team with head of corporate and head of employment

NEWS
A wide-ranging Civil Way column highlights developments from insolvency procedure to employment law, but one case stands out for its lessons on bankruptcy, family homes and digital communications
A sprawling Intellectual Property Office battle between House of Fraser and Frasers Property has delivered a masterclass in modern trade mark law
Courts in England and Wales and Singapore are increasingly confronting complex disputes over international child relocation as families become more globally mobile
The government’s long-awaited family law reform consultation could mark a turning point for domestic abuse victims navigating financial remedy proceedings, but significant challenges remain
A new commercial court pilot giving the public access to documents used in hearings, including expert reports, is raising difficult questions about transparency and privacy
back-to-top-scroll