https://www.wwspi.com/
Insurance

Don’t Let Payroll Ghosts Haunt Your Company

Most ordinary people have heard of ghostwriters and Casper the Friendly ghost, but they have never encountered the term ghost employee. Sadly, more and more business owners are running into the now all-to-common term and the associated payroll scam. There is no specific type of businesses that are specifically targeted; it happens to large and small companies alike, and it can be a deadly and destructive drain on revenue.

All About the Ghost

An employee ghost is an empty account that gets paychecks paid to it each month because the company believes the ID number is a valid person. The money grows in the account until the perpetrator becomes inclined to pick it up. Sometimes the person closes the account, other times, he or she continues to run the scam for several more months – defrauding your company of valuable resources. Source: https://www.wwspi.com/

How To Fight the Ghost

For the first line of defense, immediately remove employees that are terminated or resign. As a second defense strategy, make sure there are two individuals taking care of payroll and all associated duties. For additional protection, locate insurance to cover theft, embezzlement, and payroll schemes.
Don’t let ghosts haunt your company. Fight back before they can rob your business of essential working capital.

nms (Author)