FAXNEWZ Handout #
7026
Chicago
Sun-Times
August 17, 1998
"Some
Workers find their job
is a Real Steal"
U.S. companies are being bilked out of
hundreds of millions of dollars per year.
Here are some points to ponder:
- 80% of 600 fraud experts polled said that employee fraud
was
worse than it was five years ago.
- About one third of business failures are blamed on
corporate theft.
- Part time workers in service businesses have access to
cash and
and credit card numbers, and on average steal 33% more than
full time employees.
- Some companies tell new hires that if they are caught in
a fraudulent
act that they will be prosecuted. However, 84% of companies that
catch employees decline to pursue civil action to recover the loss.
- A 1997 national retail security survey found that
employee theft
accounts for 38.4% of "shrinkage" from October to December.
- EMPLOYERS COULD PREVENT MUCH OF THEIR INTERNAL
THEFT BY TAKING MORE TIME TO SCREEN EMPLOYEES.
- A 1996 study found that consumer prices are increased by
6% to
make up for losses from insider fraud.