{"id":12986,"date":"2023-11-23T12:27:02","date_gmt":"2023-11-23T12:27:02","guid":{"rendered":"https:\/\/jobera.com\/?p=12986"},"modified":"2023-11-23T12:27:02","modified_gmt":"2023-11-23T12:27:02","slug":"employee-theft-statistics","status":"publish","type":"post","link":"https:\/\/jobera.com\/resources\/employee-theft-statistics\/","title":{"rendered":"50+ Shocking Employee Theft Statistics [2026]"},"content":{"rendered":"\n<p><em>Is your business a thief&#8217;s den?<\/em><\/p>\n\n\n\n<p><em>Maybe you are a victim of employee theft without even knowing it.<\/em><\/p>\n\n\n\n<p>As <strong>95% of companies<\/strong> encounter employee theft issues.<\/p>\n\n\n\n<p>Employee theft costs employers up to<strong> $50 billion annually<\/strong>.<\/p>\n\n\n\n<p><em>That\u2019s huge, right?<\/em><\/p>\n\n\n\n<p>Hence it is crucial to understand<strong> Employee Theft Statistics<\/strong>, its reasons, and types to save your company from suffering losses.<\/p>\n\n\n\n<p><em>Here we have presented 50+ Shocking Employee Theft Statistics you need to Know.<\/em><\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><nav><ul><li class=\"\"><a href=\"#top-employee-theft-statistics-editors-pick\">Top Employee Theft Statistics: Editor\u2019s Pick<\/a><\/li><li class=\"\"><a href=\"#employee-theft-demographics\">Employee Theft Demographics<\/a><\/li><li class=\"\"><a href=\"#reasons-behind-employee-theft-employees-pov\">Reasons Behind Employee Theft &#8211; Employee\u2019s POV<\/a><\/li><li class=\"\"><a href=\"#types-of-employee-theft-statistics\">Types of Employee Theft Statistics<\/a><\/li><li class=\"\"><a href=\"#cost-of-employee-theft\">Cost of Employee Theft<\/a><\/li><li class=\"\"><a href=\"#employee-theft-by-industry-statistics\">Employee Theft by Industry Statistics<\/a><\/li><li class=\"\"><a href=\"#employee-theft-prediction-and-prevention-statistics\">Employee Theft Prediction and Prevention Statistics<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"top-employee-theft-statistics-editors-pick\">Top Employee Theft Statistics: Editor\u2019s Pick<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>75% of employees<\/strong> admit to stealing from their employers at<strong> least once<\/strong>. [<a href=\"#sources\">1<\/a>]<\/li>\n\n\n\n<li>Employee theft is costing US employers up to<strong> $50 billion annually<\/strong>. [<a href=\"#sources\">2<\/a>]<\/li>\n\n\n\n<li><strong>More than 30%<\/strong> of business bankruptcies are due to employee theft. [<a href=\"#sources\">3<\/a>]<\/li>\n\n\n\n<li>Disagreement or conflict with HR and managers is one of the top reasons for employee theft.<\/li>\n\n\n\n<li><strong>40% of employees <\/strong>who indulge in stealing have experienced HR issues. [<a href=\"#sources\">4<\/a>]&nbsp;<\/li>\n\n\n\n<li>One in four employees admitting to reporting more hours than they actually work is also a type of employee theft.<\/li>\n\n\n\n<li><strong>20%<\/strong> of data breaches are done by company insiders. [<a href=\"#sources\">14<\/a>]<\/li>\n\n\n\n<li><strong>Dishonest employees<\/strong> are the reason behind the <strong>$1,380 average retail theft loss<\/strong>. [<a href=\"#sources\">8<\/a>]<\/li>\n\n\n\n<li><strong>75% of companies<\/strong> lose money from \u2018buddy punching\u2019, the most common type of employee time theft. [<a href=\"#sources\">13<\/a>]<\/li>\n\n\n\n<li>It\u2019s confirmed that <strong>33% of corporate bankruptcies<\/strong> in the US are linked to employee theft. [<a href=\"#sources\">13<\/a>]<\/li>\n\n\n\n<li>There were<strong> no attempts<\/strong> made to conceal crimes in <strong>12% of cases<\/strong>. [<a href=\"#sources\">15<\/a>]<\/li>\n\n\n\n<li>There were no charges, only convictions for <strong>58% of cases<\/strong>, and only 45% of embezzlement cases had charges. [<a href=\"#sources\">15<\/a>]<\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"427\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-stealing-once-1024x427.png\" alt=\"75% of employees admit to stealing from their employers at least once\" class=\"wp-image-12994\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-stealing-once-1024x427.png 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-stealing-once-300x125.png 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-stealing-once-768x320.png 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-stealing-once.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"employee-theft-demographics\">Employee Theft Demographics<\/h2>\n\n\n\n<p><em>Are you wondering which age group or gender is most likely to steal?<\/em><\/p>\n\n\n\n<p><em>Though there are no certain patterns, statistics draw our attention to some age groups.<\/em><\/p>\n\n\n\n<p><strong>72%<\/strong> of internal frauds are committed by <strong>men<\/strong>. [<a href=\"#sources\">4<\/a>]<\/p>\n\n\n\n<p>The losses occurred by men are also higher than those caused by female counterparts.<\/p>\n\n\n\n<p><strong>34% of Millennials<\/strong> are found to be stealing from employers. [<a href=\"#sources\">3<\/a>]<\/p>\n\n\n\n<p>The average age of a fraudster is confirmed around <strong>48 years.<\/strong> [<a href=\"#sources\">6<\/a>]<\/p>\n\n\n\n<p>However, Employee theft is not dependent on educational qualification. Everyone from high school passouts to post-graduate professionals can cheat their companies.<\/p>\n\n\n\n<p>University graduates are most likely to steal with a <strong>49% chance<\/strong>. [<a href=\"#sources\">4<\/a>]<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-thefts-by-education-1024x768.jpg\" alt=\"employee thefts by education level\" class=\"wp-image-12996\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-thefts-by-education-1024x768.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-thefts-by-education-300x225.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-thefts-by-education-768x576.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-thefts-by-education.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div class=\"wp-block-columns has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"background-color:#fff9ed\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><strong>If you found this article interesting, you might enjoy these too:<\/strong><\/p>\n\n\n<p>[related_posts_by_tax taxonomies=&#8221;category,post_tag&#8221; posts_per_page=&#8221;5&#8243; orderby=&#8221;post_modified&#8221; title=&#8221;&#8221;]<\/p>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"reasons-behind-employee-theft-employees-pov\">Reasons Behind Employee Theft &#8211; Employee\u2019s POV<\/h2>\n\n\n\n<p><em>Curious to know why someone would steal from an employer.<\/em><\/p>\n\n\n\n<p><em>Here are the reasons employees usually give after being caught:<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>40% of thieves<\/strong> have experienced HR-related red flags before committing fraud. [<a href=\"#sources\">1<\/a>]<\/li>\n\n\n\n<li><strong>14% of employers<\/strong> took revenge on negative performance reviews in 2019. [<a href=\"#sources\">1<\/a>]<\/li>\n\n\n\n<li><strong>13<\/strong>% had a fear of losing their job and retaliated with stealing and fraud. [<a href=\"#sources\">1<\/a>]<\/li>\n\n\n\n<li>For a majority of employees, the main reason was low salaries and the inability to manage family expenses with low wages.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th><strong>Reason<\/strong><\/th><th><strong>Percentage<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Motivated by money<\/td><td>71%<\/td><\/tr><tr><td>Improve living standards<\/td><td>42%<\/td><\/tr><tr><td>Sold secrets to known customer<\/td><td>19%<\/td><\/tr><tr><td>HR-related red flags<\/td><td>40%<\/td><\/tr><tr><td>Negative reviews<\/td><td>14%<\/td><\/tr><tr><td>Fear of job loss<\/td><td>13%<\/td><\/tr><tr><td>Faced internal discipline from the organization<\/td><td>80%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"types-of-employee-theft-statistics\">Types of Employee Theft Statistics<\/h2>\n\n\n\n<p><em>Do you know, from scrolling social media and neglecting work during work hours to selling company secrets all come under employee thefts?&nbsp;<\/em><\/p>\n\n\n\n<p><em>It is important to familiarize yourself with all kinds of employee thefts and frauds before you fall innocently victim.&nbsp;<\/em><\/p>\n\n\n\n<p>Stealing cash, time theft, inventory theft, embezzlement, cyber theft, and database breaches are all different types of employee thefts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"retail-theft-statistics\">Retail Theft Statistics<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"427\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/dishonest-employees-1024x427.png\" alt=\"dishonest employees are the reason behind retail theft loss\" class=\"wp-image-12997\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/dishonest-employees-1024x427.png 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/dishonest-employees-300x125.png 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/dishonest-employees-768x320.png 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/dishonest-employees.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>29% of retailers <\/strong>prioritize e-commerce risks and threats.<\/li>\n\n\n\n<li><strong>Dishonest employees<\/strong> are the reason behind the <strong>$1,380 average retail theft loss<\/strong>. [<a href=\"#sources\">8<\/a>]<\/li>\n\n\n\n<li>Organizations report a shrink rate average of <strong>16.2%<\/strong>. [<a href=\"#sources\">9<\/a>]<\/li>\n\n\n\n<li><strong>44% of employers <\/strong>have increased the loss prevention budget. [<a href=\"#sources\">9<\/a>]<\/li>\n\n\n\n<li>Only <strong>6% of retail theft<\/strong> losses are recovered. [<a href=\"#sources\">8<\/a>]<\/li>\n\n\n\n<li>Retailers with around <strong>500 stores<\/strong> are more concerned about e-commerce fraud. [<a href=\"#sources\">9<\/a>]<\/li>\n\n\n\n<li>Employers are most considered about Identity theft, Phishing, and Account theft. Making them the <strong>top three e-commerce crimes<\/strong>. [<a href=\"#sources\">10<\/a>]<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"embezzlement-statistics\">Embezzlement Statistics<\/h3>\n\n\n\n<p><em>What is embezzlement?<\/em><\/p>\n\n\n\n<p>Embezzlement is a type of employment theft where an individual misappropriates assets entrusted to them. In this white-collar crime, the person is authorized with assets legally but uses those assets for illegal purposes.<\/p>\n\n\n\n<p>Chequekiting, kickbacks, cash skimming, and overbilling are all examples of embezzlement.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Managers are reported as perpetrators for <strong>85% of embezzlement cases<\/strong>. [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li>The companies<strong> lost $357k<\/strong> on average due to embezzlement. [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li>Only half of the businesses recovered from <strong>one-third <\/strong>of the embezzled amount. [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li><strong>79%<\/strong> of embezzlement crimes were group activity. [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li><strong>One-third<\/strong> of the perpetrators were involved in companies&#8217;<strong> finance or accounting matters<\/strong>. [<a href=\"#sources\">7<\/a>]<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/embezzlement-methods-1024x683.jpg\" alt=\"common embezzlement methods\" class=\"wp-image-12998\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/embezzlement-methods-1024x683.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/embezzlement-methods-300x200.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/embezzlement-methods-768x512.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/embezzlement-methods.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"employee-time-theft\">Employee Time Theft<\/h3>\n\n\n\n<p><em>Have you ever heard, \u2018Time is Money\u2019<\/em><\/p>\n\n\n\n<p><em>Companies losing money because of employee time theft is the proof.<\/em><\/p>\n\n\n\n<p>Employee Time Theft usually occurs when an employee uses paid working hours for non-work-related activities. <\/p>\n\n\n\n<p>Scrolling social media, using wifi for activities other than work, arriving late, leaving early, taking very long breaks, and reducing productivity are all time thefts.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"427\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/wasting-time-employee-1024x427.png\" alt=\"employee time theft\" class=\"wp-image-13000\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/wasting-time-employee-1024x427.png 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/wasting-time-employee-300x125.png 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/wasting-time-employee-768x320.png 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/wasting-time-employee.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>One in four<\/strong> employees admits to reporting more hours than they actually work. [<a href=\"#sources\">11<\/a>]<\/li>\n\n\n\n<li>Employers lose approximately <strong>4.5 hours per week per employee<\/strong> to time theft. [<a href=\"#sources\">12<\/a>]<\/li>\n\n\n\n<li><strong>75% of companies<\/strong> lose money from \u2018buddy punching\u2019, the most common type of employee time theft. [<a href=\"#sources\">13<\/a>]<\/li>\n\n\n\n<li>Employees do time theft in various forms like late starts, early leaving, extended breaks, and personal activities at work. [<a href=\"#sources\">13<\/a>]<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cyber-and-data-theft-statistics\">Cyber and Data Theft Statistics<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>According to the US Department of Commerce, <strong>63% of cyber attacks<\/strong> are caused by employee or contractor negligence.<\/li>\n\n\n\n<li><strong>57% of data<\/strong> breaches are caused by insiders who have access to information. [<a href=\"#sources\">14<\/a>]<\/li>\n\n\n\n<li>Misuse of privileges is the reason behind <strong>20%<\/strong> of cyber incidents. [<a href=\"#sources\">14<\/a>]<\/li>\n\n\n\n<li>The average cost of an insider attack is <strong>$17.19 million as of 2022<\/strong>. [<a href=\"#sources\">15<\/a>]<\/li>\n\n\n\n<li>Major cyber breaches occur in the healthcare, IT, and Finance sectors. [<a href=\"#sources\">15<\/a>]<\/li>\n\n\n\n<li><strong>30% <\/strong>of well-performing companies experience 30 or more cyber incidents in a year. [<a href=\"#sources\">15<\/a>]<\/li>\n\n\n\n<li>Reducing cybercrime is a high priority among 68% of merchants. [<a href=\"#sources\">9<\/a>]<\/li>\n<\/ul>\n\n\n\n<p>To cope with losses due to cyber security breaches companies should have cyber liability.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cost-of-employee-theft\">Cost of Employee Theft<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"427\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-theft-bankrupcy-1024x427.png\" alt=\"employee theft causes one-third of all business bankruptcies\" class=\"wp-image-13001\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-theft-bankrupcy-1024x427.png 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-theft-bankrupcy-300x125.png 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-theft-bankrupcy-768x320.png 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-theft-bankrupcy.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><em>Employee theft is an increasing concern among companies with alarming losses.&nbsp;<\/em><\/p>\n\n\n\n<p><em>Thefts and frauds can lead companies to take loans or even bankruptcy.&nbsp;<\/em><\/p>\n\n\n\n<p>Covid has drastically impacted the situation.&nbsp;<\/p>\n\n\n\n<p>During 2019, the average retail theft cost for businesses was<strong> $369.42<\/strong>. [<a href=\"#sources\">16<\/a>]<\/p>\n\n\n\n<p>It has increased to<strong> $440.48<\/strong>, <strong>19% after 2019<\/strong>. [<a href=\"#sources\">16<\/a>]<\/p>\n\n\n\n<p>It\u2019s confirmed that <strong>33% of corporate bankruptcies<\/strong> in the US are linked to employee theft. [<a href=\"#sources\">17<\/a>]<\/p>\n\n\n\n<p>Employee theft causes<strong> one-third<\/strong> of all business bankruptcies in the US. [<a href=\"#sources\">14<\/a>]<\/p>\n\n\n\n<p>Total business losses from bankruptcies amount to <strong>$50 billion annually<\/strong>. [<a href=\"#sources\">17<\/a>]<\/p>\n\n\n\n<p><strong>$42 billion<\/strong> is the total loss due to <strong>employee fraud<\/strong>. [<a href=\"#sources\">14<\/a>]<\/p>\n\n\n\n<p>Businesses lose<strong> 5% of their annual revenue<\/strong> to employee fraud and abuse. The average loss per case is about<strong> $1,509,000.<\/strong> [<a href=\"#sources\">5<\/a>]<\/p>\n\n\n\n<p><em>Let\u2019s explore the connection between the age of fraudsters, gender, position in the company, and median losses in detail:<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Occupational fraud caused by owners\/executives is most financially damaging as these people have access to critical information, data, and finances. Though it is the <strong>least common fraud (20%)<\/strong>, the median loss is approximately <strong>$600k<\/strong>. [<a href=\"#sources\">5<\/a>]<\/li>\n\n\n\n<li>Employee thefts where you have been working for the company for <strong>six years or more<\/strong> caused <strong>twice the median loss ($200k)<\/strong> compared to the newer employees with tenure of <strong>five years or less ($100k)<\/strong>. [<a href=\"#sources\">5<\/a>]<\/li>\n\n\n\n<li>Male thefts cause more losses <strong>($150k<\/strong>) than <strong>female thefts ($85k)<\/strong>. [<a href=\"#sources\">5<\/a>]&nbsp;<\/li>\n\n\n\n<li>University graduates or<strong> higher degree holders<\/strong> cause more losses (4195k) than lower degrees of educated employees <strong>($100k)<\/strong>. [<a href=\"#sources\">5<\/a>]<\/li>\n\n\n\n<li>Employees aged 55 or above caused median losses of <strong>$425k. <\/strong>[<a href=\"#sources\">5<\/a>]<\/li>\n\n\n\n<li>Loss caused by employees aged 40-54 is around <strong>$150k. <\/strong>[<a href=\"#sources\">5<\/a>]<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"900\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/cost-theft-stats.png\" alt=\"cost of employee theft statistics\" class=\"wp-image-13003\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/cost-theft-stats.png 800w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/cost-theft-stats-267x300.png 267w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/cost-theft-stats-768x864.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"employee-theft-by-industry-statistics\">Employee Theft by Industry Statistics<\/h2>\n\n\n\n<p><em>Are you wondering, Which methods are most likely to be used by employees for thefts?<\/em><\/p>\n\n\n\n<p><em>This highly depends on the type of industry. The method of stealing and significant loss is different for each industry.<\/em><\/p>\n\n\n\n<p><em>Here is what we found about employee theft by industry:<\/em><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Industry<\/strong><\/th><th><strong>Median loss<\/strong><\/th><th><strong>Number of cases registered in a year<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Mining<\/td><td>$475k<\/td><td>26&nbsp;<\/td><\/tr><tr><td>Energy<\/td><td>$275k<\/td><td>60<\/td><\/tr><tr><td>Real Estate<\/td><td>$254k<\/td><td>45<\/td><\/tr><tr><td>Banking and Finance<\/td><td>$100k<\/td><td>386<\/td><\/tr><tr><td>Communications<\/td><td>$115k<\/td><td>15<\/td><\/tr><tr><td>Education<\/td><td>$65k<\/td><td>101<\/td><\/tr><tr><td>Insurance<\/td><td>$70k<\/td><td>85<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"employee-theft-prediction-and-prevention-statistics\">Employee Theft Prediction and Prevention Statistics<\/h2>\n\n\n\n<p>Employee theft cases have been increasing every day. The losses are alarmingly high due to business rise in the IT sector and cyber crimes.&nbsp;<\/p>\n\n\n\n<p>Employers must be aware of the types and methods of crimes to prevent them.<\/p>\n\n\n\n<p>It is better to predict and prevent fraudster cases, there is too much work associated with dealing with thefts and recovering.<\/p>\n\n\n\n<p><em>As they say, \u2018Prevention is better than cure.<\/em>\u2019<\/p>\n\n\n\n<p><strong>48% of fraud<\/strong> cases were detected via tips from college employees. [<a href=\"#sources\">16<\/a>]&nbsp;<\/p>\n\n\n\n<p><strong>70% of cases<\/strong> lasted more than a year before being discovered. [<a href=\"#sources\">16<\/a>]<\/p>\n\n\n\n<p>Loss prevention teams have prioritized different crimes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>61% cited organized retail crimes [<a href=\"#sources\">9<\/a>]<\/li>\n\n\n\n<li>59% prioritized e-commerce and cybercrime<\/li>\n\n\n\n<li>58% prioritized internal theft<\/li>\n\n\n\n<li>54% prioritized return fraud<\/li>\n<\/ul>\n\n\n\n<p>There were<strong> no attempts<\/strong> made to conceal crimes in <strong>12% of cases<\/strong>. [<a href=\"#sources\">15<\/a>]<\/p>\n\n\n\n<p>There were no charges, only convictions for <strong>58% of cases<\/strong>, and only 45% of embezzlement cases had charges. [<a href=\"#sources\">15<\/a>]<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"tools-for-employee-theft-prevention-and-detection\">Tools for Employee Theft Prevention and Detection<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In <strong>33% of case<\/strong>s, phone hotline and email were used by whistleblowers. [<a href=\"#sources\">5<\/a>]<\/li>\n\n\n\n<li>Retail theft statistics show that <strong>52%<\/strong> are allocating additional technology resources, <strong>36% <\/strong>of prevention budgets, and <strong>30%<\/strong> are adding loss prevention staff. [<a href=\"#sources\">9<\/a>]<\/li>\n\n\n\n<li>The top five loss prevention systems as of 2019 include<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Burglar Alarms &#8211; 92.1%<\/li>\n\n\n\n<li>Digital Video Records &#8211; 84.1%<\/li>\n\n\n\n<li>Armored Car Deposit Pickups &#8211; 68.3%<\/li>\n\n\n\n<li>POS Data Mining &#8211; 65.1%<\/li>\n\n\n\n<li>Live Customer Visible CCTV &#8211; 61.9%<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-companies-handle-workplace-thefts\">How Companies Handle Workplace Thefts<\/h3>\n\n\n\n<p>After companies discover employee theft, they usually go with the following steps:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>29% of companies<\/strong> laid off employees<\/li>\n\n\n\n<li>Meanwhile, <strong>27% increased<\/strong> their spending on auditing<\/li>\n\n\n\n<li>26% lost customers and time discussing security and audit requirements<\/li>\n\n\n\n<li>25% went on to purchase or enhance current insurance coverage<\/li>\n\n\n\n<li>24% switched auditors. [<a href=\"#sources\">7<\/a>]<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"employee-theft-fa-qs\">Employee Theft FAQs<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-percentage-of-employees-steal-from-their-employers\">What percentage of employees steal from their employers?<\/h3>\n\n\n\n<p>75% of employees are reported for stealing from their employers at least once. Employee theft is costing US employers up to $50 billion annually. And more than 30% of business bankruptcies are due to employee theft.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-are-the-most-common-things-stolen-from-the-workplace\">What are the most common things stolen from the workplace?<\/h3>\n\n\n\n<p>The most common stolen office equipment and things include: Writing accessories, electronics, critical documents, cash, and even furniture.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-do-you-mean-by-employee-time-theft-how-often-does-it-occur\">What do you mean by employee time theft? How often does it occur?<\/h3>\n\n\n\n<p>Employee Time Theft usually occurs when an employee uses paid working hours for non-work-related activities.&nbsp;<\/p>\n\n\n\n<p>Scrolling social Media, using wifi for activities other than work, arriving late, leaving early, taking very long breaks, and reducing productivity are all time thefts.<\/p>\n\n\n\n<p>One in four employees admits to reporting more hours than they actually work.&nbsp;<\/p>\n\n\n\n<p>Employers lose approximately 4.5 hours per week per employee to time theft.&nbsp;<\/p>\n\n\n\n<p>75% of companies lose money from \u2018buddy punching\u2019, the most common type of employee time theft.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-is-embezzlement\">What is embezzlement?<\/h3>\n\n\n\n<p>Embezzlement is a type of employment theft where an individual misappropriates assets entrusted to them. In this white-collar crime, the person is authorized with assets legally but uses those assets for illegal purposes. Chequekiting, kickbacks, cash skimming, and overbilling are all examples of embezzlement.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-do-company-statistics-say-about-handling-workplace-thefts\">What do company statistics say about handling workplace thefts?<\/h3>\n\n\n\n<p>After companies discovered employee theft, 29% of companies laid off employees. Meanwhile, 27% increased their spending on auditing, 26% lost customers and time discussing security and audit requirements, 25% went on to purchase or enhance current insurance coverage, and 24% switched auditors.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"conclusion\">Conclusion<\/h2>\n\n\n\n<p>Employee theft includes all the ways in which an employee might steal from their employers.&nbsp;<\/p>\n\n\n\n<p>Employers need to understand types, prevention, and prediction methods to handle employee thefts.&nbsp;<\/p>\n\n\n\n<p>Employee Thefts cause huge monetary losses for companies.&nbsp;&nbsp;<\/p>\n\n\n\n<p><em>Better safe than sorry, right!?<\/em><\/p>\n\n\n\n<p>75% of employees admit to stealing from their employers at least once.&nbsp;<\/p>\n\n\n\n<p>Employee theft is costing US employers up to $50 billion annually. Employee Theft is more common than we actually realize.&nbsp;<\/p>\n\n\n\n<p>Businesses lose 5% of their annual revenue to employee fraud and abuse. The average loss per case is about $1,509,000.6<\/p>\n\n\n\n<p>According to employees&#8217; POV, they steal from their employees because of negative reviews, HRrealted crisis, and low wages.&nbsp;<\/p>\n\n\n\n<p>71% of thefts are motivated by money. Major types of employee thefts include time thefts, cyber and data thefts, embezzlement, and retail thefts.<\/p>\n\n\n\n<p>There are various methods to tackle employee thefts regardless of industry type. Companies should install proper security and insurance to handle theft crimes.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sources\">Sources<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>CalRest. <a href=\"https:\/\/www.calrest.org\/labor-employment\/employee-theft-why-do-employees-steal\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Employee Theft: Why do employees steal?<\/a><\/li>\n\n\n\n<li>CNBC. <a href=\"https:\/\/www.cnbc.com\/2017\/09\/12\/workplace-crime-costs-us-businesses-50-billion-a-year.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">This crime in the workplace is costing US businesses $50 billion a year<\/a><\/li>\n\n\n\n<li>SMG. <a href=\"https:\/\/smg.com\/docs\/default-source\/default-document-library\/resources\/are-happier-employees-less-likely-to-steal.pdf?sfvrsn=c356c331_8\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Are happier employees less likely to steal?<\/a><\/li>\n\n\n\n<li>SHRM. <a href=\"https:\/\/www.shrm.org\/resourcesandtools\/hr-topics\/employee-relations\/pages\/workplace-theft-on-the-rise-.aspx\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Why Is Workplace Theft on the Rise?<\/a><\/li>\n\n\n\n<li>ACFE.<a href=\"https:\/\/acfepublic.s3-us-west-2.amazonaws.com\/2020-Report-to-the-Nations.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> 2020 Global study on occupational; fraud and abuse<\/a><\/li>\n\n\n\n<li>GlobalNews wire. <a href=\"https:\/\/www.globenewswire.com\/news-release\/2017\/08\/23\/1091456\/0\/en\/Employee-theft-cost-US-businesses-an-average-of-1-13-million-in-losses-according-to-2017-Hiscox-Embezzlement-Study.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Employee theft cost US businesses an average of $1.13 million in losses, according to 2017 Hiscox<\/a><\/li>\n\n\n\n<li>CUTimes. <a href=\"https:\/\/www.cutimes.com\/2019\/03\/29\/hiscox-study-confirms-prominence-of-u-s-employee-theft\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Hiscox Study Confirms Prominence of U.S. Employee Theft.&nbsp;<\/a><\/li>\n\n\n\n<li>Hayes International. <a href=\"https:\/\/hayesinternational.com\/news\/annual-retail-theft-survey\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Annual Retail Theft Survey<\/a><\/li>\n\n\n\n<li>NRF. <a href=\"https:\/\/cdn.nrf.com\/sites\/default\/files\/2019-06\/NRSS%202019.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">National retail security survey<\/a><\/li>\n\n\n\n<li>Worldpay.<a href=\"https:\/\/www.fisglobal.com\/en\/gs?q=merchant-solutions-worldpay\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> Merchant&nbsp; Solution<\/a><\/li>\n\n\n\n<li>Software advice. <a href=\"https:\/\/www.softwareadvice.com\/hr\/industryview\/time-theft-report-2015\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Time Theft Report.<\/a><\/li>\n\n\n\n<li>&nbsp;Cision. <a href=\"https:\/\/www.prnewswire.com\/news-releases\/wasted-workday-employees-lose-over-two-weeks-each-year-due-to-it-related-issues-300239058.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Wasted Workday: Employees Lose Over Two Weeks Each Year Due To IT-Related Issues<\/a><\/li>\n\n\n\n<li>Solink. <a href=\"https:\/\/solink.com\/resources\/types-of-time-theft\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">9 types of time theft<\/a><\/li>\n\n\n\n<li>Verizon. <a href=\"https:\/\/www.verizon.com\/business\/resources\/reports\/insider-threat-report\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Insider threat report<\/a><\/li>\n\n\n\n<li>Varonis. <a href=\"https:\/\/info.varonis.com\/hubfs\/Varonis%202019%20Global%20Data%20Risk%20Report.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">2019 Global data risk report<\/a><\/li>\n\n\n\n<li>Loss Prevention Magazine. <a href=\"https:\/\/losspreventionmedia.com\/shedding-light-on-retail-theft-statistics\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Shedding Light on Retail Theft Statistics.<\/a><\/li>\n\n\n\n<li>Forbes. <a href=\"https:\/\/www.forbes.com\/sites\/jiawertz\/2022\/11\/20\/shoplifting-has-become-a-100-billion-problem-for-retailers\/?sh=4c9dbf62d624\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Shoplifting Has Become A $100 Billion Problem For Retailers.<\/a><\/li>\n<\/ol>\n\n\n<p>[ratemypost]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is your business a thief&#8217;s den? Maybe you are a victim of employee theft without even knowing it. As 95%\u2026<\/p>\n","protected":false},"author":6,"featured_media":13005,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[172,164],"class_list":["post-12986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-statistics","tag-theft","tag-workplace"],"_links":{"self":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts\/12986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/comments?post=12986"}],"version-history":[{"count":0,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts\/12986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/media\/13005"}],"wp:attachment":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/media?parent=12986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/categories?post=12986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/tags?post=12986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}