COA Solutions - Business Accounting Software

Even the most optimistic of your employees is likely to concede it has not been an easy twelve months.

Sales are down, the UK economy is in debt and unemployment is rising. In hard times, how far would a depressed employee go? Would one of your workers commit fraud?

Research from the UK’s fraud prevention service CIFAS suggests an economic slowdown and a rise in fraud certainly go hand in hand, with a 40% increase in people being falsely impersonated last year compared with 2008.

Yet again, another billion-dollar scandal has come to light, this time involving Texan billionaire and cricket sponsor, Sir Allen Stanford. One is reminded of the tech bubble bursting and the slew of corporate failures that came to light then, with the likes of Enron, Worldcom and the rest, and it suggests the unpleasant possibility that there are more to come.