It may come as a surprise to some that the typical fraudster in the workplace is not the bad-attitude ne’er-do-well that slinks off into the corner when faced with new responsibilities and additional tasks.
Executive SummaryThe magnitude of employee fraud within organizations is also increasing, with one insurance expert estimating a typical large insured loss value of $10 million. Here Insurance Journal's Stephanie Jones reports on a presentation for the 2013 RIMS meeting, where risk management experts painted a picture of the typical fraud perpetrator in the workplace.
Rather, the high-performing extrovert that never takes a vacation is more likely to perpetrate a fraud against his employer.
Fraudsters are generally male, according to Mark Lowers, president of the Purcellville, Va.-based international risk management firm, Lowers & Associates. “They’re typically tenured, people that have been with an organization for quite some time and are generally high performers.
“People like them. They do well, they’re risk takers but they get the job done,” Lowers said during a presentation at the 2013 Risk and Insurance Management Society’s annual conference.