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SAP Concur: Four Types of Expense Report Fraud and ACFE Data
1reports1reporting sources2022-06-29Update
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Expense fraud directly erodes profit and takes an average of 12 months to detect. For finance and compliance teams, recognizing common fraud types and deploying automated detection is key to reducing losses.
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6月29日
- SAP Concur BlogSAP 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.