It's hard to know how close the figures published by Captio are to reality. The fact remains that the European report published by the T&E management platform puts forward figures that are significant enough to attract the attention of European companies, and this was surely one of the aims of this study entitled "The impact of the European social model on employment". The cost of internal fraud in European companies' expense management ". Based on a panel of 130 companies and 6070 employeesfor expense claims totalling 1.3 million eurosCaptio believes that "12.8% of the charges analysed are potentially fraudulent". and specifies that SMEs are the most exposed. The fraud rate is estimated at 13% for small companies, compared with 10% for large accounts. The digital management platform for business travel expenses even gives a figure of over €40,000 (41,314.60 euros, to be precise) the average annual cost for a European SME, compared with 27,870.77 euros for large companies. Even more eloquent: Captio puts forward the figure of 7223 euros per employeeon average. We believe that the lack of expense management tools and policies in SMEs [explains] why they suffer more cases of fraud," says Joaquim Segura, CRO and co-founder of Captio. Visit double costs (29%) and old costs (33%) are thought to be the main culprits behind this financial abyss, ahead of the weekend spending (12%), according to the Captio study, available online.
12.8% of charges analysed are potentially fraudulent
