Embezzlement is not just a problem for large enterprises – businesses with fewer than 150 employees were 10 times more likely to be victimized by fraud than those with 250-500 employees, according to the 2016 Hiscox Embezzlement Study.
The financial services industry is hard hit by embezzlement cases; 17 percent of employee theft in organizations with fewer than 500 employees occurs in this sector. For professional services businesses, the median loss as a result of employee theft was highest -- $615,101.