The concept of fraud seems to be a norm in the business world. Truth is, according to a research conducted in 2003 by University of Leicester on fraud, 70 percent of the participant population actually stated that they were eager to commit fraud if they could get away with it.
Stories about financial frauds and scammed businesses are heard. There's nothing unusual about these incidents, not now, when more and more employees easily give in to the temptation of doing fraudulent activities in the office.
The payroll department may probably be one of the most corrupt places in the office. Even trusted bookkeepers and accountants may be tempted to engage in payroll fraud, or the act of tampering payroll data to acquire benefits and funds which aren't deserved by employees. Such criminal act is often performed by employees who organise payroll data.
So what are the forms of payroll fraud? Here is a list of fraudulent activities that payroll officers and employees commit against their companies:
Some employees can fabricate their timesheet data and records to receive more benefits which aren't due. These fraudsters can be creative when tampering wage claims. What they do is that they may ask friends to clock in even when they are not present in the office or they may collaborate with trusted payroll officials to obtain undeserved compensation.
The idea of having ghost employees is one common scenario. This fraud activity involves payroll officials. What happens is that the wage of fake employees, real or fictional names, is received by the payroll attendant. Records show that the wage is given to a certain employee, but the pay really ends up in the pockets of the payroll officer.
Fraudsters do everything and anything to keep their pockets full and fat. Surely, you do not want these types of employees in your company, do you? Prevent the possibility of payroll fraud in your enterprise when you hire an HR consultant Singapore. A professional expert in Payroll outsourcing and HR-related functions can prepare the payroll data of your company's employees form an objective, competent fraud-free perspective.
Stories about financial frauds and scammed businesses are heard. There's nothing unusual about these incidents, not now, when more and more employees easily give in to the temptation of doing fraudulent activities in the office.
The payroll department may probably be one of the most corrupt places in the office. Even trusted bookkeepers and accountants may be tempted to engage in payroll fraud, or the act of tampering payroll data to acquire benefits and funds which aren't deserved by employees. Such criminal act is often performed by employees who organise payroll data.
So what are the forms of payroll fraud? Here is a list of fraudulent activities that payroll officers and employees commit against their companies:
Some employees can fabricate their timesheet data and records to receive more benefits which aren't due. These fraudsters can be creative when tampering wage claims. What they do is that they may ask friends to clock in even when they are not present in the office or they may collaborate with trusted payroll officials to obtain undeserved compensation.
The idea of having ghost employees is one common scenario. This fraud activity involves payroll officials. What happens is that the wage of fake employees, real or fictional names, is received by the payroll attendant. Records show that the wage is given to a certain employee, but the pay really ends up in the pockets of the payroll officer.
Fraudsters do everything and anything to keep their pockets full and fat. Surely, you do not want these types of employees in your company, do you? Prevent the possibility of payroll fraud in your enterprise when you hire an HR consultant Singapore. A professional expert in Payroll outsourcing and HR-related functions can prepare the payroll data of your company's employees form an objective, competent fraud-free perspective.
