How to Prevent Payroll Fraud

Did you know, according to Forbes magazine’s Payroll Fraud: A Big Threat and How to Avoid It, 27% of businesses encounter payroll fraud, with small businesses being victim more often than large businesses. ┬áIt can be small- skimming a little money here and there off the payroll, or it can be huge, like someone double-paying themselves. Payroll fraud’s results can be pretty easily mitigated with a double check system- have someone not involved in your company’s payroll look over the numbers every quarter to check that things add up. As we get closer to the holiday season- a busy time for many businesses and a busy time for your payroll- don’t forget to take precautions and do have someone check over your payroll.