The financial services industry faces the greatest threat of employee theft, with 17 percent of embezzlement cases occurring at these organizations with less than 500 employees.
In addition, the professional services industry has the highest median loss, with $615,101 stolen by employees, according to insurer Hiscox's "2016 Embezzlement Study: A Report on White Collar Crime in America."
If you think this only occurs at large organizations — think again. Hiscox's report says that small businesses with less than 150 employees were 10 times more likely to be victimized by fraud than those with 250-500 employees.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
