Sabotage & betrayal | Employee fraud likely to rise in 2024 - how can you prevent it?

Over the past year, we have seen numerous stories of employees sabotaging their employer.

Whether it's a finance professional embezzling money, or a retail worker stealing hundreds of thousands of pounds worth of products, the cost-of-living crisis has caused a surge in these types of incidences - posing a new type of internal threat for employers.

For example, the recent story of the Eugene Weekly – a print magazine in Oregon – gained traction, as the company was forced to dismiss its entire workforce and close its doors after it was left struggling financially when a finance employee stole tens of thousands of dollars from them. Whilst Facebook's diversity lead admitted to stealing millions from the company to fund their lavish lifestyle.

Research from insurance company Zurich found that staff are increasingly stealing from their employer to support them through the cost-of-living crisis. In fact, 500 employees are caught stealing every month in the UK, and this has been on the rise.