/ fraud

7 fraud figures that will blow your mind!

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.

  1. $2.8 Billion: The annual loss to organisations in the U.S due to employee expense fraud.

  2. 1.1 million: Individuals that knowingly claimed inaccurate expenses.

  3. 94%: Of the business travellers questioned, 94% claimed they accurately record and process expenses.

  4. 13.9%: Senior Vice President or Vice President roles were the most likely to commit expense fraud at almost 14% the total workforce.

  5. 73%: Male employees are most guilty of expense fraud with almost 3/4 claiming to have incorrectly processed claims.

  6. 68%: Companies that implemented technology to manage employee expenses claim a 68% (average) reduction in fraud.

  7. $2,448: Of those that committed expense fraud the average annual claim was $2,448 per individual.

Head over to Psngr for more information about managing mileage expense.

Psngr