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(London.CityRegiions.com, July 13, 2012 ) London, UK -- UK’s Fraud Prevention Service, CIFAS, confirmed that out of 127 of their surveyed organizations, employee fraud was experienced by 125 of them.
As per Google, a data was disclosed stating that “payroll fraud” has been given credit to more than 34,800 searches per annum.
A reputable British website designed to engage and inform on the payroll questions and challenges published tips to help combat payroll fraud in their article entitled : Prevent Payroll Fraud
Looking into what motivates people to commit payroll fraud, PFK Accountants and the University of Portsmouth recently conducted research into this area and they found fraud rates have increased by a third during the recession. While the majority of people have no inclination to get involved in high-level fraud, there is one type of fraud that is easy to fall into and which many people will take part in guilt free – payroll fraud.
Jim Marasco, a Director for Corporate Services, reprinted a quote from Fraud Matters Newsletter of CPA America, which says “In any kind of business that issues payroll checks to employees, the possibility of payroll fraud exists. There are various ways payroll fraud can be perpetrated. The Association of Certified Fraud Examiners 2006 Report to the Nation on Occupational Fraud and Abuse refers to payroll fraud as, any scheme in which an employee causes his or her employer to issue a payment by making false claims for compensation.”
“It is strongly advisable to ensure that outsourcing payroll fits with the business strategy, based on an understanding of the organization’s strengths, weaknesses and overall direction.” as advised by a spokesperson of www.payrollreport.co.uk. A video for this company has just been released with the title : How to Prevent Payroll Fraud.
PayRollReport.co.uk
Charles Vincent
0845 468 2000
admin@payrollreport.co.uk
Source: EmailWire.Com
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