Employee crimes have been on the rise in the last few years, according to information reported by the FBI. Even a company with tight cybersecurity measures can become the victim of employee theft and other crimes. Thats why its crucial to have adequate insurance coverage for workplace problems.
Examples of Employee Crimes
Employees have been involved in a number of crime claims scenarios. Lets take a look at a few that are the most commonplace in companies.
- Theft – This could include such things as money stolen from petty cash or equipment removed from the premises.
- Forgery – Money orders or company checks are stolen, forged and cashed.
- Altered accounts – Company account information is altered by an employee. This could involve assistance from an outside vendor who overcharges the company for services, and the employee then shares the excess funds with their accomplice.
- Improper credit card use – An employee is given a company credit card to book flights and hotel rooms for travelers and then uses the card for personal expenditures.
- Data breaches – An employee breaches the companys security system and transfers money to their personal account.
You certainly hope that your employees are honest, but you cant always know their motives. Obtaining a comprehensive insurance plan will protect your company from potential loss.