Internal fraud is perpetrated by one or more of your members of staff.
Common examples of internal fraud include:
- Payment of false invoices to a personal bank account
- Theft of office equipment
- Purchasing inappropriate business gifts
- Using company funds to buy goods for personal use
This type of fraud is very common. Procedures in many businesses are often based on trust and internal control systems may not yet be sufficiently robust. Losses can severely affect the financial health and standing of the business.