Employee dishonesty has been on the rise for the last few years now. Unfortunately, with the economy struggling like it is, my opinion is this issue will continue with the trend and only get worse. Desperate times cause people to believe they have to do desperate things to survive.

According to the 2008 Report to the Nation on Occupational Fraud and Abuse, US companies lose up to 7% of their annual revenue each year due to employee dishonesty. This is a significant amount to any business, whether small or large. A 7% hit to a smaller company could be the difference from profitability to bankruptcy. If a larger company absorbs a 7% hit, it is obviously losing out on a large amount of money that was rightfully earned.

In business every dollar counts, especially in our current economy. Make sure you are taking precautionary measures to minimize the threat of employee dishonesty in your company. Please click here if you would like to receive a quote regarding employee dishonesty coverage.

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