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Employee theft costs Australian business billions

fraud

If you’ve ever taken a pen, notepad, stapler or even a Post-It note home from the office, you’re part of a problem costing employers $1.5 billion a year: news.com.au


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By Euna Cho

Source: SBS



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If you’ve ever taken a pen, notepad, stapler or even a Post-It note home from the office, you’re part of a problem costing employers $1.5 billion a year: news.com.au


According to an article published in news.com.au, staff and former staff are responsible for 70 per cent of business fraud, while the Australian Retailers Association estimates 55 per cent of stock shrinkage is due to employee theft.

“Employee theft is a reality that all kinds of businesses have to deal with,” said Michael Wilkinson, senior adviser with workplace relations firm Employsure. “It may take the form of a cashier ‘forgetting’ to swipe a friend’s purchase or an employee funnelling thousands of dollars into a personal bank account.”

However, according to Melissa Demarco, workplace law expert, although theft of fraud is considered “serious misconduct” under the Fair Work Act, it is not always the case that theft will justify summary dismissal.

“A retail employee stealing a tin of Milo may justify a verbal warning,” Ms Demarco writes.

Many employers may be tempted to install hidden cameras or other surveillance methods if employees are suspected of taking company property — but Mr Wilkinson warned that “filming employees needs to be approached very carefully”.

Mr Wilkinson explains that employers should be aware that there are different surveillance laws in each state and territory and it is important to understand their obligations and get it right.

Source: news.com.au


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