From CBS News Money Watch by Rachel Layne August 23, 2017:
A new Hiscox study of employee theft in 2016 shows the most damaging schemes involved small amounts of money swiped over years or even decades. Twenty-nine percent of employee thefts took place over more than five years, with that percentage rising to 37 percent in financial services. Vendor fraud produced the largest losses, with the most common method being funds theft. The average embezzlement and loss stretching over five years or more was $2.2 million, while those who stole for more than a decade took an average of $5.4 million. The study also shows thieves do not fit the profile that most company managers expect. Thieves tend to be “egotistical risk-takers” who are curious, smart, and want detailed knowledge of how the company works. “We list diligent and ambitious, staying late, working through vacation, or never taking vacation” as common characteristics of employee thieves, says Doug Karpp, the national product head for crime and fidelity at Hiscox. “Some of those are counter-intuitive.” Middle-aged employees in the accounting or finance area were the most likely to steal from any company — thieves have a median age of 48.
Signals someone might be stealing may come from those who “flaunt their wealth,” according to the report, showing off a lifestyle that is beyond what their salary can buy, such as new cars every few months or extravagant jewelry.