Employee theft is a real risk and it can happen to you.
A new report on employee theft from Hiscox finds that the majority of employee thefts occur in small businesses that have 500 employees or less. Hiscox looked at all federal actions involving employee theft over the calendar year 2014 and found that nearly 72% involved organizations with fewer than 500 employees. Within that set, four of every five victim organizations had fewer than 100 employees, and more than half had fewer than 25.
The study also found that financial services organizations (such as insurance companies, banks and credit unions) are most at risk, accounting for over 21% victim organizations. Other organizations with a high concentration of employee thefts are non-profits (11%), municipalities (10%) and labor unions (9%).
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