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Page 1: Chrome River: Expense Fraud infographic

WHAT IS BEHIND BUSINESS EXPENSE

FRAUD? FRAUD?

Expense fraud costs the U.S. economy

$2.8 billion

$2,448Average annual fraudulent amount claimed by those who commit fraud

Percentage of perpetrators caught

17%

................................................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

annually

Who Does It?Which gender submits more false expenses?

Most common traits

73%

27%

Men

Women

Male

Age46

Size of company390 employees

Role White-collar, non-managerial

9.7%Blue-collar

4.8%White-collar,

non-managerial

4.8%Manager

4.1%Director

6.9%Vice

President

13.9%Senior Vice

President/CXO

6.4%CEO/Owner

PERCENTAGE OF PEOPLE IN EACH ROLE WHO ADMIT TO EXPENSE FRAUD:

How Do They Do It?Most common fraudulent claims Most common submission

method

Personal purchases claimed as business

expenses

44.8%Additional

mileage

34.5%

Submitting more than allowed for

an item

29.3%Tips recorded higher

than what was actually given

27.6%

1

2

Gives receipts to an administrator / secretary to compile

Submits images / hard copies of receipts with a spreadsheet

Which Industries Are Hardest Hit?

Percentage of people in each industry who admit to committing expense fraud

Entertainment

Travel & Transportation

Food & Dining

Business Support & Supplies

Legal & Financial

Non-profit

Retail

Construction & Contractors

19%

17.1%

16.7%

10%

TOP Four BOTTOM Four

THE BEST WAY TO PREVENT EXPENSE FRAUD

Use manual submission processes

Submit with an expense management tool

Of those who commit fraud

76%

24%

68%

All data from a Chrome River / SurveyMonkey online survey of 1,072 business travelers, conducted February 2016.

To learn more about reducing your organization's exposure to expense fraud, download the whitepaper

3.2%

3.1%

2.9%

2.7%

Expense management systems reduce expense fraud incidents by

10 Ways to Reduce Expense Fraud

http://info.chromeriver.com/10-ways-to-prevent-business-expense-fraud

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