What is Employee fraud?
Employee fraud occurs when a member of staff dishonestly makes false representation, or wrongfully fails to disclose information, or abuses a position of trust for personal gain, or causes loss to others.
Employee fraud can range from compromising customer or payroll data to inflating expenses to straightforward theft. Sometimes it’s an unplanned, opportunistic attack purely for personal financial gain, but sometimes it’s linked to a serious and organized criminal network, or even terrorist financing.
Increasing incidence of internal fraud
Most staff in any organization are honest and trustworthy. But the small proportions of insiders who defraud their employers pose an increasing threat. An affected organization can experience significant financial losses and unquantifiable damage to its reputation.
Staff dismissed for fraudulent activity – or who resign before being found out – can move freely from one employer to another, possibly perpetrating more frauds.
The solution: National employee fraud Database
Our National Employee Fraud Database is a data sharing scheme designed to help responsible employers to minimize the risk of employing a fraudster.
National Employee Fraud Database is a success in the area of sharing data within a framework that safeguards people’s privacy and its critical to identifying and preventing fraud