Any company, regardless of size, can fall victim to white-collar crime — crimes that often go on for quite some time before being discovered, causing irrevocable harm to a business or organization. Worse yet, crimes of this nature are most often characterized by deceit, concealment and/or a violation of trust within a company’s own workforce. The changing economic environment, rapid advancements in technology, and global expansion make the threat of theft or embezzlement even more prevalent than ever before.
Implementation of enforceable internal financial controls should be a priority for a company no matter the size, but frequently fail to stop a trusted employee from engaging in a fraudulent scheme. In fact, the median length of time of workplace fraud is 18 months, and is mostly discovered by accident, with the median loss from employee fraud coming in at $175,000.*
Crime Insurance is a cost-effective solution to protect your company assets from theft or forgery by an employee or a third-party.
*Association of Certified Fraud Examiners. 2008 Report to the National on Occupational Fraud and Abuse (see www.acfe.com)