All businesses, regardless of size or sector, are vulnerable to fraud. And while the types of schemes used to misappropriate funds vary, they tend to share a common thread: They can be extremely costly to a business.
What types of fraudulent claims are businesses most frequently exposed to?
Fraud has been defined as a deception deliberately practiced in order to secure unfair or unlawful gain. Some of the most common types of fraud businesses are exposed to include employees claiming benefits that they are not entitled to — whether it be workers’ compensation or additional compensation for time not worked — and personal injury claims by allegedly injured people on the business’s property or by someone working for the company. READ MORE