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Employee Theft: An Inside Job

WITH NEARLY 1 IN 3 AMERICAN WORKERS ADMITTING TO SOME DEGREE OF EMPLOYEE THEFT, LET'S EXPLORE THE SCOPE OF THE PROBLEM. 40 75% BILLION EMPLOYEE-RELATED CRIMES that go unnoticed ESTIMATED ANNUAL IMPACT IT'S 15 TIMES MORE LIKELY that on U.S. businesses from employee theft and fraud a business will be targeted by an employee than anyone else. -10% 95% OF THE TOTAL OF THE EMPLOYEE POPULATION is responsible FOR MORE LOSSES from THAN employee theft. INDUSTRIES MOST SUSCEPTIBLE TO FRAUD AND THEFT Banking Financial services Government Healthcare Manufacturing services DOLLARS AND MORE DOLLARS With the frequency that employee fraud is happening, how much is it costing business owners and what's the effect on the bottom line? $2.9 TRILLION ANNUAL GLOBAL LOSSES from employee theft and fraud That's enough to buy a new MacBook Pro for every worker in the U.S., China, India, European Union, Indonesia, Brazil, Bangladesh That's enough to contribute about $50,000 into the retirement accounts of every American who has them. That's enough to buy homes for every person living on the streets in the U.S. and Russia combined. AVERAGE AMOUNT STOLEN PER CASE $715.24 $129.12 1 IN 3 BUSINESS FAILURES Employee theft and fraud linked to employee theft and fraud Shoplifting GETTING CAUGHT HOW DO MOST FRAUDSTERS GET CAUGHT? Nearly half of employee fraud and theft cases are reported by tipsters, whether internal or external. 18 WHERE THE TIP CAME FROM 71,095 50.9% 22.1% 12.4% EMPLOYEE CUSTOMER. ANONYMOUS MONTHS 11.6% 9% 2.3% MEDIAN LENGTH of DISHONEST UP SHAREHOLDER/ OTHER VENDOR workplace fraud scheme EMPLOYEES 5.5% OWNER were apprehended FROM in 2012, before detection 1.5% 2011 COMPETITOR OF FRAUD CASES But when police are the first to notice the Only about 3 PERCENT are first noticed by police. theft, THE LOSSES ARE DRAMATIC MEDIAN LOSS BY METHOD OF DETECTION $1 MILLION $370,000 I$225,000 A$166,000 I POLICE I EXTERNAL AUDIT CONFESSION ACCIDENT BIG SCORES 100 M THE BIGGEST EMPLOYEE EMBEZZLEMENT CASES IN U.S. HISTORY $90M PERPETRATOR ORGANIZATION S80 M Yasuyoshi Kato A Day-Lee Foods $66M $65.6M Ricardo Carrasco A Ausaf Siddiqui E BankBoston 9 Fry's Electronics 560 M $58.2M $34.5M A John F. Doorly A Sujata Sachdeva Tenens Corp/ 開 Ayer estate 開 Koss Corp. $40 M $7.7M $42.6M Gilbert Beesemyer $21.3M Melissa G. King Sandhogs' Union Local 147 E Guaranty B&L Assoc. L. Ben Lewis S20 M E Wells Fargo Bank $2.9M $36.6M A Minnie Mangum William Deloach E PBS&J Corp. Commonwealth A B&L Assoc. 1930 1955 1981 1997 1998 2005 2006 2008 2009 2009 YEAR DISCOVERED SOURCES - - - - - -

Employee Theft: An Inside Job

shared by caradelany on Nov 25
Whether it’s a single ream of paper, or stealing identities, theft at the workplace is an increasingly worrisome situation for business owners. has created an infogr...


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