In any kind of business that issues payroll checks to employees, the possibility of payroll fraud exists. There are various ways payroll fraud can be perpetrated. The Association of Certified Fraud Examiners 2015 Report to the Nation on Occupational Fraud and Abuse refers to payroll fraud as “any scheme in which an employee causes his or her employer to issue a payment by making false claims for compensation.” Falsified Wages How It’s Done Falsified wages involves employees claiming compensation for hours not worked or falsifying their timesheets or timecards in some fashion. Accounting or payroll personnel with access to the payroll system can manipulate the rates of pay or the hours worked. They may even pay themselves bonuses when none are warranted. By falsifying their wages, employees could pilfer from an organization and personally profit. Safeguards to Prevent It.
The black and white swans of Payroll is unique course that educates personnel managing the payroll process the threats and vulnerabilities facing their activity. The course also enlightens them on FRAUD that can be perpetrated in the absence of controls. and vulnerabilities