Worker theft has jumped by a fifth because the rising price of residing triggers a wave of office crime, new knowledge suggests.

Nationwide figures reveal virtually 6,000 employees have been caught stealing from their employer in 2022, up from 5,000 the 12 months earlier than. This quantities to just about 500 incidents each month.

The evaluation was carried out by insurer Zurich UK primarily based on Freedom of Info knowledge from 43 police forces in England and Wales.

London’s Metropolitan Police noticed the very best variety of worker thefts, with 874 incidents final 12 months, whereas the Metropolis of London noticed the fewest, at 18. The largest improve in thefts occurred in Lincolnshire, up from 40 to 71 incidents – an increase of 44%.

Worker theft ranges from petty pilfering of workplace provides to the theft of information and embezzlement of firm funds.

Though general numbers are low, Zurich has seen a rise in business crime claims, together with worker theft, which might depart companies dealing with common losses of £140,000.

Latest claims embrace a £150,000 theft by a hoop of workers at a meals producer and a £50,000 declare from a double-glazing agency defrauded by its finance supervisor.

Rose Sutton, a senior Speciality Traces claims skilled, stated: “As price of residing pressures mount, worker theft has considerably elevated, suggesting some employees might be turning to determined measures to make ends meet.

“The implications of worker theft might be devastating for corporations, leading to diminished earnings, decrease employees morale and in excessive circumstances, even chapter. Shoppers additionally lose out by increased costs.

“No enterprise is resistant to theft within the office, which might go undetected for years, and happen in any respect ranges. Except companies have the proper safety in place, they’ve little likelihood of recovering stolen money and items, and should face different bills, similar to regulatory fines.

“Insurance coverage offers an important security web that may assist companies mitigate the impression of economic losses and resume regular operations faster.”

Corporations can scale back the chance of worker theft by implementing strong fee controls, common audits, and a optimistic work tradition.

Zurich has additionally seen a rise in claims for social engineering, the place fraudsters manipulate workers into making funds or handing over financial institution particulars and passwords.

This contains circumstances the place criminals have hacked a senior worker’s e mail and despatched pressing fee directions with fraudulent financial institution particulars to different employees members and exterior events.

Arunava Banerjee, Cyber Danger Consulting Lead at Zurich Resilience Options, stated: “Fraudsters are utilizing ever extra refined strategies to trick workers into divulging delicate data.

“These techniques can typically be troublesome to detect, making it essential that employers have strong safety measures in place, alongside efficient cyber consciousness coaching to assist employees detect and keep away from these scams.”