SAP Concur: Four Types of Expense Report Fraud and ACFE Data

A SAP Concur blog describes four types of expense report fraud: mischaracterized expenses, falsified claims, inflated claims, and multiple claims. It cites ACFE data saying a typical organization loses 5% of annual revenue to fraud, averaging $8,300 per month; a May 2022 survey found 51% of businesses discovered more fraud since the pandemic and 71% expect fraud cases to increase over the next year. It recommends anti-fraud strategy, clear expense policy, mobile apps, and finance automation.