An employee who has access to the business books and regularly siphons off small amount can steal until he/she is caught or the business fails.

While these types of fraud make the headlines, they are not as common as the less serious frauds.

The most common type of workplace fraud is lying on a CV to get a job.

A common sign of CV fraud is an employee lacking the skills that they had put on the CV, or when they appeared to not know what they were doing or talking about.

Another form of fraud is lying on the timesheet, such as claiming overtime for hours not worked, claiming expenses not actually incurred on the business behalf, misuse of computers and files (e.g. downloading from the web rather than paid work, etc., etc).

This employee probably had a history of dishonesty with a previous employer, so how extensive have been your reference checks?

Having gained entry to your business personal/personnel records what catastrophes might this employee cause by identify theft?

Detection/Prevention

Video surveillance, a regular change of the people who handle cash, daily and random till checks, checking the books more carefully, and checking CVs very carefully before employment.

Forensic accountants are trained to look beyond the numbers and deal with the business reality

Suspicions of fraud often arise when an employee leaves the business or goes on holiday.