Listen Now: New App Exposes Expense Report Fraud
Expensing a high price bill? Make sure you can defend every item on it.
Most companies allow employees to file expense reports for things they bought because of work. But sometimes people take advantage of the perk and it seems the holidays bring out the worst offenders.
Appzen is an A.I. platform that examines millions of reports to find out-of-policy expenses submitted to the travel and expense department. And according to USA Today, there were some that aroused suspicion.
For example, gold-plated cufflinks. The explanation was that they were a gift to a famous rapper, unclear if that rapper actually received them. One employee tried to expense more than two hundred dollars of exercise clothes, hoping no one would catch on.
Strip clubs are one that show up a lot but they are usually listed as “dba” or “doing business as” on the receipt. Going hand in hand with that is cigars. One manager bought them for employees to celebrate a great quarter but the expense violated company policy.
One of the worst might be a private helicopter ride. The excuse was to beat traffic, but the company wasn’t buying.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
Popular Reports, Articles & Videos
Latest CBS Radio Reports
Brian's diverse experience and unique perspectives combine with his pleasant and personal manner to engage audiences on many levels. From his days as an Air Force squadron commander to his long career as a business journalist, commentator and public speaker, Brian's approach to speaking and presentation is thought-provoking, inspirational and creative.
"The Technology Tornado: Media & Communications in the Modern Era"
Phoenix Convention Center
August 28th, 2019