According to a recent study by the Association of Fraud Examiners, organizations worldwide lose 5 percent of their revenue to fraud each year. The study also found that fraud is extremely costly – the median loss caused by occupational fraud was $140,000 and that more than one-fifth of these frauds involve losses of at least $1 million.
As the usage of personal devices by employees has become virtually ubiquitous companies have become confronted with a growing array of challenges and opportunities when it comes to detecting and proving fraud. However, organizations must be precise in their efforts to use technology to prove the guilt of employees, to ensure that the rights of the employee are not violated and innocent employees are not wrongly accused.