U.S. businesses lose as much as $110M dollars a day due to employee-related crimes. However, most employee theft goes undetected. A strong system of internal controls and an investment in appropriate insurance coverage will go a long way toward protecting your assets.
Employee dishonesty coverage (also known as a fidelity bond) can be part of a commercial crime policy. The advantage to the employer is the option to purchase other crime coverages as well, such as forgery, burglary, robbery, extortion and computer fraud, in one policy, rather than buying separate policies. Your business policy should include worldwide coverage.
- Pre-billing clients
- Altering invoices
- Pocketing cash sales
- Diverting corporate assets
- Booking unfinalized sales
- Advancing unapproved loans
- Altering credit card receipts for submission on expense accounts
We can assist you in auditing and determining essential internal controls such as
the establishment of clear lines of authority and responsibility between employees and departments.
