SAP Concur: Best Practices for an Employee Spend Fraud Mitigation Program
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For travel and expense managers, the post quantifies the scale, channels and mitigation of employee spend fraud, a reference for designing anti-fraud controls and audit strategy.
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- SAP Concur BlogSAP Concur: Best Practices for an Employee Spend Fraud Mitigation Program
A SAP Concur blog post focuses on fraud arising from employee spending, both intentional and accidental, and mitigation measures. It cites the ACFE 2018 Global Study on Occupational Fraud and Abuse, which reports 5% of a typical organization's revenue is lost to fraud each year and 83% of fraud cases involve asset misappropriation; the median loss of asset misappropriation was $154K, with expense reimbursements making up 14% of risk in that fraud category. It also cites a 2017 Oversight report finding 37% of business travelers had at least one exception on their expense reports. Recommended practices include an integrated platform, budget control, 100% auditing and automated GPS mileage tra…