Four Necessary Actions to Prevent T&E Fraud

According to the Association of Certified Fraud Examiners, businesses lose more than $3.5 trillion each year to fraudsters. Any employee reimbursement program carries fraud risk. The article recommends four measures: specify which apps employees may and may not use and update expense policy; implement a corporate card program to integrate T&E data and tighten controls; go beyond automation to integration for real-time visibility and tamper prevention; and conduct regular reviews and audits of the expense management system.