Survey Finds Median Employee Theft Loss of $280,000 for US Organizations
US Organizations with less than 500 employees experienced a median loss of $280,000 per year due to employee theft across a wide range of industries, according to the 2015 Hiscox Embezzlement Watchlist, which examines employee theft cases that were active in the US federal courts during the previous calendar year.
The study found that embezzlement is not just a problem for large organizations or the financial services industry; 80 percent of victim organizations had fewer than 100 employees, and losses were suffered across a wide variety of industries, with an average total loss of $842,403.