Intentional versus Unintentional Expense Fraud

Fraud is not a term any business owner wants to hear. In todays Finance News article, learn the difference between intentional and unintentional expense fraud as well as how to detect and prevent it!

"It’s something that every finance leader must deal with, and it is becoming more and more common every year. It’s so common that on average it causes businesses billions in loss a year. Despite how terrifying that number looks, expense fraud is preventable. When you consider that one-third of expense fraud occurs due to a lack of internal controls, it’s clear that there are methods available to reduce or eliminate fraud."

"While the difference between unintentional and intentional expense fraud seems obvious, being able to identify the trends between the two types of expense fraud is vital. Knowing these can help you figure out if one of the team members has made a genuine mistake or has more malicious intentions."