Your organization is at higher risk for occupational fraud than you might think. U.S. organizations lose more than $652 billion annually to fraud perpetrated by an employee, often a manager or executive. Victims include private or public companies, not-for-profits, governmental agencies, and any other kind of organization where managers and employees have access to financial or material assets.

One of the most challenging aspects of occupational fraud is that the perpetrators are usually people who have no prior criminal record. Well-run organizations use background checks to minimize risk in hiring, and prior infractions are generally grounds for refusing to hire a person. Yet people with previously clean histories who have earned trust in their positions may abuse that trust, using their privileged access to steal. … Continue reading