Incorrect or fraudulent expense claims costing UK businesses over £1bn

19th June 2009

Around £1bn of fraudulent or incorrect expense claims are paid out by UK businesses each year, according to a survey by Globalexpense.

The research of almost 5m expense claims from 140 companies revealed that around a quarter of the expenses submitted by employees are fraudulent or incorrect.

Around £350m worth of claims are completely bogus, while a further £670m are not technically covered by company policy.

"The scandal over MPs expenses has brought the issue into sharp focus. First and foremost we would advise businesses worried about the issue to give staff a clear company policy on expenses," said Martin Edwards, head of employment law at Mace & Jones.

Source: Newbusiness.co.uk