Learn about employee fraud and protect your business with commercial insurance in Los Angeles.
You’ve put your heart into building your business from the ground up, and as a small business, you work hard alongside your employees. Unlike a large corporation, you get to know your employees personally. You build a relationship with trust. However, every so often your trust is betrayed. Employee fraud isn’t an uncommon occurrence. Not only is it a personal blow to your confidence, but it can leave your business in financial ruin. Protect your company with the right commercial insurance
in Los Angeles, and check out what you need to know about employee fraud.
How Employee Fraud Affects Small Businesses:
As a small business, you have limited resources. A financial disaster can be a serious blow to your survival. When it comes to employee fraud, small businesses lose a six percent higher median than their larger counterparts. Plus, the majority of small businesses never recover the funds lost.
Types of Employee Fraud:
There are many ways in which employee fraud is carried out. However, some methods are more common than others. The more you know, the better able you are to look out for warning signs of these behaviors. In large organizations, employee fraud consists of stealing, corruption, and financial statement fraud, however, when it comes to small businesses the most common forms of employee fraud are corruption, billing fraud, and check tampering. Bear in mind that most often there are multiple types of employee fraud that take place at one.
Do your best to avoid employee fraud. Take the right precautionary measures, and invest in commercial insurance
in Los Angeles. Contact
the professionals at Fuller Insurance Agency
, located in Southern California, for assistance finding the right policies for your family in Chino Hills, Los Angeles, Long Beach, and surrounding communities.