Workplace Fraud Definition

Fraud is defined as any intentional act designed to deceive another person or organization in order to gain a financial advantage. Workplace fraud can take many different forms, but all involve some type of deception with the intent to gain financially.

Workplace fraud can be committed by employees, employers, vendors, or anyone else who does business with an organization. Common types of workplace fraud include embezzlement, kickbacks, bribery, payroll fraud, and false invoicing. With so many different ways to commit workplace fraud, it can be difficult to detect and prevent.

Organizations should have policies and procedures in place to help deter and detect workplace fraud. Employees should be trained on these policies and procedures so they know what to look for and how to report suspected fraud. By taking steps to prevent and detect workplace fraud, organizations can protect themselves from financial losses and damage to their reputation.