In any business – small or large, good or bad economy – internal theft or employee fraud can occur. Actually, in my experience, I have seen more employee fraud occurring in small to medium-sized businesses because there is a greater level of trust, a less formal process at times, greater familiarity with each person in the company, and a greater breadth of duties for each employee.
While the percentage of employees committing fraud may be low, I have seen some small businesses devastated and almost have to close their doors because of one or more employees who stole from them.
Types of Employee Fraud
There are a few types of employee fraud that are prevalent in small businesses. …Continue reading