The Covid-19 pandemic has led to an increase in employee fraud risks, according to a survey by Crossland Employment Solicitors. The study found that over a third of UK employees had been asked by their boss to work while being furloughed by their company, which is considered fraud under the coronavirus job-retention scheme. The Association of Certified Fraud Examiners estimates that 5% of all revenue generated by organisations is lost every year to employee fraud, with pressure or incentive, opportunity, and rationalisation being the three components that lead to such behaviour. The pandemic has driven a large-scale move to remote working, which could boost the conditions for internal fraud. Personal financial pressure has been much in evidence as people grapple with an uncertain employment landscape, says Richard Hunt, founder and MD of Turnkey Consulting, a risk management consultancy.
