Certify believes that the average cost to companies of expenses fraud is more than £20,000. It believes that companies with less than 100 employees have a 28% higher average fraud loss than those with more than 100 employees.
Closer monitoring can, according to Certify, lead to a 70% reduction in expenses fraud.
Having advised many companies on fraud prevention, we can say clearly that any attempts to introduce a culture of compliance in a workplace will eradicate the potential for wrongdoing. But such attempts have to be carefully thought out and introduced after a detailed assessment of the potential for fraud.