Payroll Fraud Read more

Five Steps to Prevent Payroll Fraud

Payroll Fraud:

Payroll fraud is not easy to detect and it can takes several forms. A company’s payroll services can be affected with the following three schemes:

1. Falsified Wages:

This type of fraud is very common in payroll service departments. It occurs when the employees misuse the system to increase their wages. They can also add extra hours that were not actually worked.

2. Ghost Employees:

Ghost employees don’t exist in reality. This type of payroll fraud is committed by adding a fictitious employee on the payroll of the company. The executor of this fraud then embezzles company funds in a way that by cashing in on the wages paid to that fictitious employee.check http://citifmonline.com/2015/05/11/govt-to-review-sanctions-for-payroll-fraud/

3. Commission Schemes:

Sales teams can dig holes in …