Employee theft costs U.S. businesses $50 billion a year, CNBC reports, citing data from Statistic Brain. Small businesses are especially at risk for employee theft, says CNBC, because it often goes undetected.
CNBC also reported on a new study by Hiscox, a global specialist insurer, which found that American companies lost on average $1.13 million to employee theft in 2016. Hardest hit were small and midsize companies, whose median loss last year was $289,864. These businesses made up 68% of employee-theft cases.
