Cheating employees are one of the greatest expenses that an organization has to bear. Well, almost every company waits to become a victim, and then they plan to acquire a cheating control system.
A global fraud reporter has been observing the trend of cheating employees since 1996. They have been creating statistics on corruption and fraud by employees. Further, they state that every year there is an increment of 5% fraud and corruption cases in the organizations that damage their repute, brings down the revenue, and reduces profit. Certainly, detecting the cheating results in involuntary loss of profit.
There are over 40 types of fraud and corruption issues that businesses face. The problem is that every type is different and organizations have to adopt a different pattern each time to curb that action.
Every business has more than one department. A law firm tells that most of the offenders, cheater, and thieves are the high-ups. Along with that, the accounting and finance are among the common departments where cheating takes place. Though the cheat cases even include the working class, their number is still less.
Ahead of that, the cheating types qualify under these categories:
- Asset fraud
- Vendor corruption
- Account mishandling
- Payroll mishandling
- Data breach
- Corruption and bribery
Businesses learn about the cheating process after suffering a serious blow. Cheating is a hidden process and the cheaters attempt to conceal it for their benefit. Most of the cheating employees tend to leave the organization soon as they are done. Indeed, the business is only left to suffer. At times the cheating is so much serious that it leaves the business to bear the brunt of bankruptcy and legal issues.
Before it is too late, the management and the business owners should get a preventive solution.
Secrets to Detect Cheating Employees:
As said above, every cheating requires a different method of investigation. However, there is a secret to detecting cheating employees. That is a preliminary action to save the business from a grave loss. Well, that secret is known as OgyMogy employee monitoring app. Let us define it by putting it under every cheating category.
Asset Fraud is the Most Common:
Asset fraud covers a lot of cheating perspectives that employees carry on in organizations. This is a process in which the assets of the company are damaged; assets in a way, all the tangible and intangible assets. They can be the hardware, vehicles, software, and even intellectual property. Asset fraud includes:
- Documents forgery
- Tampering of checks
- Stealing inventory and cash
- Misuse of service
- Inappropriate reimbursement of expenses
- Personal expenses transacted to a business account
- Procurement and payment embezzlement
- Proclaim fraud on benefits
Prevention of these frauds can keep a company away from a series of miscellaneous expenses made for the luxury of employees. Well, employing OgyMogy for this kind of cheating can help the management intervene at the right time. For example, an accountant is trying to modify the reports to show a loss in the monthly transaction. OgyMogy can reveal it to the management that the reports have tampered and the figures are incorrect. It is an employee monitoring software that sits secretly inside the computers, smartphones, and tables of employees and tracks all activities. Hence, any tampering or embezzlement will surface before it brings any benefit to the cheating employees.
Data Breach is Devastating:
Data breaching and theft appears to be a new term for several business owners, but this has been around for a long time. Employees steal data and sell it to the rival companies. In response, the victim company suffers an operational loss. Further, data breaching includes thieving of intellectual property, breaching of customer and clientage information, and provision of highly confidential information (such as banking details of customers) to third parties.
Identification of these offenses can trouble the employee in his career. Along with the employees, businesses even suffer a series of legal issues. To stay away from all this, better get OgyMogy. It prevents jeopardizing your business venture. Further, OgyMogy alerts the management and employers if an employee is trying to access the secure folders in the business network. The host members can instantly check what the employees are doing and upon finding anything suspicious they may intervene.
Well, OgyMogy helps businesses to stay firm on their mission and focus on their operations. Rest all remains on OgyMogy as it will keep you posted on every hidden cheating act in your office.