SAP Concur: Compliance and Fraud Risks in Expense Management
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Compliance gaps and fraud in corporate travel and expense management can cause significant financial losses and reputational risk. Financial decision-makers need to assess current controls and consider automation tools to improve spend visibility and compliance.
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- SAP Concur BlogSAP Concur: Compliance and Fraud Risks in Expense Management
SAP Concur blog highlights that increasing employee-initiated spend channels complicate compliance and fraud risks. ACFE data shows asset misappropriation occurs in over 86% of occupational fraud cases with a median loss of $100,000, while financial statement fraud accounts for 10% of cases but a median loss of $954,000. Travel and expense is a major fraud area, with schemes including mileage padding, fake expenses, and unused airline tickets. Proactive data monitoring can reduce fraud losses by 33%.