Based on a recent poll, execs say that half of large Canadian companies have been hit by employee fraud attempts.
Fraud is alive and well in organizations. Whether retail, financial or governmental, many Canadian firms were faced with this problem internally. According to a Léger Marketing poll on behalf of SAS, which specializes in business analytics software and services, 48% of executives at large Canadian firms said that employees have attempted to defraud their organization. This number was slightly lower for mid-sized companies, at 35%.
Based on a sample of over 1,000 Canadian executives, the study showed that most of the time, the fraudsters were caught, with 74% and 69% respectively for large and mid-sized companies tracked down after the fraud occurred. According to executives, 10% of employees who committed fraud in mid-sized companies eluded detection, vs. only 4% for large companies.
Customer fraud including insurance scams to credit card and mortgage fraud, for instance, was also a big concern, with 47% of executives from large firms saying they had been affected, vs. 30% for mid-sized companies.