The risk of fraud and internal theft is a harsh reality for most businesses that need to deal with loads of cash every day. Dishonesty on the part of employees is a major concern that organizations have been facing for long. Often resentful employees cause businesses incur huge cash loss. This is why an increasing number of companies are opting for commercial safes. They are indeed the safest way to secure your cash.
A report by ACFE or Association of Certified Fraud Examiners in 2014 reveals the following statistics:
- 77 percent of frauds involve staff working in seven departments including accounting, sales, operations, executive/upper management, customer service, purchasing, and finance.
- 4 percent of all the studied fraud cases occurred due to asset misappropriation, which consists of cash theft, defalcation, and so on.
- Only 14 percent of businesses fully recover from fraud losses.
