Employee fraud soars in recession

EMPLOYEE fraud has soared in Ireland since the downturn, yet Irish employers are among the least likely in Western Europe to take legal action against staff.

Some 71% of Irish companies experienced an increase in economic crime in the last year, compared with the 40% European average found in the PricewaterhouseCoopers (PwC) Irish Economic Crime Survey launched yesterday.

Only 50% of Irish staff caught committing serious internal crimes were dismissed, compared to 57% elsewhere. A fifth of Irish respondents said these internal crimes had cost then more than €3.3m.