v.employee fraud - Veriato

companies, schools, and government entities worldwide utilize Veriato solutions to gain insight into the user ... server management software (Server Manager) and robust Event and Security Log Management (Log Manager). ... Top 5 detection.
501KB Sizes 4 Downloads 48 Views
The State of Employee Fraud Who experiences employee fraud? Most common victimized industries are:

Banking & Financial Services Government & Public Administration

Manufacturing

Who is committing employee fraud? The vast majority of all fraud were committed by individuals working in one of six departments:

• Accounting • Operations • Sales • Executive/ Upper Management • Customer Device • Purchasing

77%

Most occupational fraudsters are FIRSTTIME OFFENDERS with clean employment history!

ONE OR MORE behavioral red flags:

87%

HAD NEVER

36%

been charged or convicted of a fraud-related offense

84%

HAD NEVER been punished or terminated by an employer for fraudrelated conduct

27%

LIVING BEYOND MEANS

FINANCIAL DIFFICULTIES

19%

18%

CLOSE WITH VENDORS/ CUSTOMERS

EXCESSIVE CONTROL ISSUES

What is the cost of Fraud to the business? Typical organization,

loses 5% of its revenues to fraud each year

2010

2011

$140K

2012

$1M

49%

The Median loss More than 1/5

Of victims

of fraud cases caused

DID NOT RECOVER any of

losses of at least $1M

their perpetrator’s takings

How is the Fraud detected? How long to detect?

A median of 18 months before being detected

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec +

Top 5 detection methods?

43% Tip

15%

Management reviews

14% Internal Audit

7%

By Accident

5%

Account reconciliation

Source: ACFE 2012 Report to the Nations.

Veriato is an innovator in User Behavior Analytics and a global leader in User Activity Monitoring. More than 36,000 companies, schools, and government entities worldwide utilize Veriato solutions to gain insight into the user activity on their network, and enjoy the security and productivity increases that come with it. Veriato's award-winning solutions include the world’s leading employee investigation tool (Veriato Investigator), the award winning User Behavior Analytics solution (Veriato Recon), enterprise-grade User Activity Monitoring (Veriato 360), powerful server management software (Server Manager) and robust Event and Security Log Management (Log Manager). For more information, visit www.veriato.com

1-888-598-2788 | www.veriato.com