Based on a study carried out by the University of Leicester, people have the tendency to commit fraud, if given the chance. A hefty 70 percent of the participant population affirmed that they were willing to commit fraud when given the opportunity.
From time to time, reports about scammed businesses or financial frauds are published on the Web or featured in news shows. Statistics shows that employees today, baffled by the financial challenges of modern day living, tend to engage in fraudulent activities nowadays.
In the office, the payroll department is often found to have the most fraudulent loopholes. Payroll fraud, the illegal act of tampering payroll to acquire benefits and funds which aren't due, is a common crime in lax business environments. This is typically committed by the person in charge of the payroll system or an associate working with the payroll officer to perform the illicit scheme.
So what types of payroll frauds are commonly committed? Here are some ways crooked employees cheat the payroll system:
Some employees are willing to fabricate their timesheet data and records just to receive more benefits which are not due. These fraudsters can be creative when tampering wage claims. What they do is that they ask friends to clock in even when they're not present in the office or they may collaborate with trusted payroll officials to obtain undeserved compensation.
The inclusion of ghost employees in payroll data is a pretty common incident. This fraudulent act typically involves the participation of a fraudster and a fake subordinate, real or fictional identity, who isn't really working for the corporation. When pay period comes, the funds supposedly rewarded to the ghost employee go straight to the pocket of the fraudster.
Fraudsters do everything and anything to keep their pockets full and fat. Surely, you do not want these types of employees in your corporation, do you? Prevent the possibility of payroll fraud in your company when you hire an HR consultant Singapore. An expert in Payroll outsourcing and human resources-related functions can prepare the payroll data of your company's employees form a logical, competent fraud-free perspective.
From time to time, reports about scammed businesses or financial frauds are published on the Web or featured in news shows. Statistics shows that employees today, baffled by the financial challenges of modern day living, tend to engage in fraudulent activities nowadays.
In the office, the payroll department is often found to have the most fraudulent loopholes. Payroll fraud, the illegal act of tampering payroll to acquire benefits and funds which aren't due, is a common crime in lax business environments. This is typically committed by the person in charge of the payroll system or an associate working with the payroll officer to perform the illicit scheme.
So what types of payroll frauds are commonly committed? Here are some ways crooked employees cheat the payroll system:
Some employees are willing to fabricate their timesheet data and records just to receive more benefits which are not due. These fraudsters can be creative when tampering wage claims. What they do is that they ask friends to clock in even when they're not present in the office or they may collaborate with trusted payroll officials to obtain undeserved compensation.
The inclusion of ghost employees in payroll data is a pretty common incident. This fraudulent act typically involves the participation of a fraudster and a fake subordinate, real or fictional identity, who isn't really working for the corporation. When pay period comes, the funds supposedly rewarded to the ghost employee go straight to the pocket of the fraudster.
Fraudsters do everything and anything to keep their pockets full and fat. Surely, you do not want these types of employees in your corporation, do you? Prevent the possibility of payroll fraud in your company when you hire an HR consultant Singapore. An expert in Payroll outsourcing and human resources-related functions can prepare the payroll data of your company's employees form a logical, competent fraud-free perspective.
0 comments:
Post a Comment