By Christopher Giovino, Partner, Dempsey Partners, LLC

The incidence of occupational crime—theft or fraud perpetrated by an employee—is on the rise. These crimes generally spike around economic downturns, such as the conditions of the past several years.

Occupational fraud now accounts for 5 percent of gross revenues for all businesses, according to the Assoc. of Certified Fraud Examiners. The median loss in occupational fraud events is $140,000; one in five cases involved losses of $1 million or more.

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