There are many ways corporate fraud is used to steal money from a business or company. While theft of products from inventory or the retail shelf is well known, there are also other ways people steal money. Most corporate fraud schemes manipulate the company's accounting system to steal money. Payroll fraud is a common corporate fraud that involves stealing money through the payroll system. An employee may commit payroll fraud to collect payroll money that they have not earned through the payroll system. An employer may commit payroll fraud and collect government financial support for non-existent employees. An employer may also create incorrect payroll records to evade taxes. A carefully maintained payroll system that is transparent and easy to audit is a good preventive measure against payroll fraud. One must also know what is payroll fraud to understand how to prevent payroll fraud effectively.
