Time to shut door on employee fraud hitting productivity in UK

The UK’s endemic acceptance of employee-led fraud is fundamentally damaging economic performance. RICHARD KUSNIERZ asks whether it is time for investors to start demanding a more proactive strategy for combating fraud

DESPITE massive investments in compliance-focused technology and the increasing demand for excellent governance, few organisations globally have any idea of the level of fraud being perpetrated annually. And why should they? There is no regulatory requirement to state losses to fraud in accounts. Nor will any successful company without glaring financial black holes feel the need to rock the boat and undermine staff morale by introducing severe fraud prevention policies.