Employee Crime and Insider Threat Management

This report details the findings from a survey of 200 U.S. risk managers regarding the prevalence and management of employee crime, specifically theft and fraud. The survey reveals that 80% of organizations experienced employee crime in the past year, with billing fraud being the most common type reported. The report highlights that a significant number of incidents involve multiple employees, indicating a serious insider threat. Additionally, 88% of organizations notify law enforcement after discovering such crimes, but recovery of stolen assets is often partial. The report also discusses the growing concern over the misuse of artificial intelligence by employees, with 94% of risk managers expressing worry about its potential for facilitating workplace crimes. Despite proactive measures, such as automated monitoring and employee training, many risk managers remain concerned about the effectiveness of existing internal controls. The report emphasizes the need for continuous improvement in risk management strategies, including the importance of crime insurance as a financial safety net.