False invoicing, fingers in the till or theft of inventory are common crimes occurring in Australian businesses today. Employee Fraud can cost your business dearly. Here are some more recent examples:
- A restaurant employee stole $5000 over a period of time.
- A driver delivered equipment to a client accepting cash in return but did not account for sales.
- A real estate agency employee collected rent in cash for a house the agency managed but pocketed the cash on a rolling basis ensuring no single tenant ever went into arrears (she was later discovered when she couldn't work for 6 weeks after a car accident).
- 4 employees were stealing money by accepting cash payments for construction work completed. Over a year the insured lost $120,000 in revenue.
- Owners of a carpet company were shocked to find a trusted employee manipulated inventory supply numbers of stock. then with another employee sold the stolen stock over a two year period.
Phoenix Insurance Brokers, located all over WA, understands your business needs and risk factors. Get in touch today on 9367 7399 to discuss or review your policies. You might be very glad you did.