Many companies in the United States fail each year due to employee fraud.

Question

Quizplus · Accepted Answer

Employee fraud is a serious problem for companies in the United States, and it can lead to significant financial losses and even bankruptcy. According to a 2020 survey by the Association of Certified Fraud Examiners, occupational fraud (fraud committed by employees or executives against their employers) costs organizations worldwide an estimated 5% of their annual revenues, or over $4.5 trillion. Moreover, the same study found that U.S. companies are particularly vulnerable to fraud, with a median loss of $150,000 per case. Therefore, it is crucial for businesses to take steps to prevent and detect fraud, such as implementing internal controls, conducting background checks, and educating employees about ethical behavior.

Many Companies in the United States Fail Each Year Due