Expense Management
The Evolving State of Expense Fraud

The Evolving State of Expense Fraud

Despite all the advancements in expense management, whether it be through technology or process, expense fraud is still a prevalent issue around the world. But why is this the case? According to the Association of Certified Fraud Examiners (ACFE), 14% of all occupational fraud and abuses cases is one form of expense reimbursement fraud, the third most common type of fraud and one of the easiest to hide from the company. Many companies believe that they employ trustworthy and honest people, but the reality is that anyone is capable of fraud. In fact, some employees may submit fraudulent expenses without ever being aware of it. But the real problem stems from those who knowingly defraud their employers, and the strategies they use to go unnoticed. Employees that are committing expense fraud often go with the “little and often” approach, making smaller fraudulent claims along the way, that eventually add up to a significant amount. All expense categories are susceptible to fraud, bu...
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