7 fraud figures that will blow your mind!

7 fraud figures that will blow your mind!
Photo by Pepi Stojanovski / Unsplash

A 2016 report produced by Chrome River shows the impact that employee expense fraud had on organisations in the U.S.  The survey was carried out with over 1,000 business travellers across a range of industries.

$2.8 Billion:  The annual loss to organisations in the U.S due to employee expense fraud.

1.1 million: Individuals that knowingly claimed inaccurate expenses.

94%:  Of the business travellers questioned, 94% claimed they accurately record and process expenses.

13.9%: Senior Vice President or Vice President roles were the most likely to commit expense fraud at almost 14% the total workforce.

73%: Male employees are most guilty of expense fraud with almost 3/4 claiming to have incorrectly processed claims.

68%: Companies that implemented technology to manage employee expenses claim a 68% (average) reduction in fraud.

$2,448:  Of those that committed expense fraud the average annual claim was $2,448 per individual.

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