Types of Payroll Fraud

The types of payroll fraud possible are dependent on the ingenuity of the perpetrator, the scale of the payroll and the complexity and structure of the payroll processing systems. The challenge for fraudsters is how to get money out of the organisation, into their own hands without being detected.

GhostsGhosts
Creating an additional fake person(s) in the payroll and re-directing the falsified payroll payments to the fraudster’s benefit.

Terminated employees
Continued use of terminated employees on the payroll to make improper payments to the fraudster.

Timesheet manipulation
Creating new fake clocking records or manipulating existing timesheet records timesheet before payroll processing.

Payroll Entitlements manipulation
Manipulation of clocking times, additions and deductions to payroll entitlements of personnel to the advantage of the fraudster. This type of fraud will depend on the nature of the business. It can be prevalent in situations where allowances are varied and substantial in dollar value relative to base pay.

Solution

BundyPlus specialises in employee timesheet solutions helping business tackle payroll fraud. We design and manufacture a range of industrial Australian made employee terminals, budget imported time clocks, T&A desktop software, cloud and mobile applications all with local support.

Payroll processing becomes simpler, eliminates paper timesheets, reducing mistakes, time theft (buddy badging) and best of all, auditable. Our experienced team will help identify the right time clock (biometric fingerprint, proximity, magnetic card or PIN pad) and software to suit your business.