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Who Are You Hiring? The Shocking Cost of Résumé Fraud

Resume fraud has become increasingly common due to the competitive job market. 

 

Starting from slight exaggerations and small white lies in yesteryears, job applicants have gone beyond all limits with résumé fraud and fraudulent thanks to the advent of high-tech scams and the internet. Now, a mere enhancement in education credentials is only a minor fraud, as job hunters have gone as far as coming up with fake employment histories, job references, degrees, diplomas, and specialized licenses.

 

You’ve heard the old saying, “honesty is the best policy,” but the rising dishonesty in the occupational sector indeed suggests this virtue has gone missing almost entirely.

 

A Few Most Alarming Statistics on Corporate Fraud:

 

Let’s switch perspectives to corporate fraud and take a look at some of the most alarming statistics you might have recently come across. According to the U.S. Department of Commerce;

 

  • 75% of workers “steal” from their workplace repeatedly.
  • Internal thefts at the workplace are 15 times more likely to occur than external thefts.
  • Losses due to embezzlement reach higher than $4 billion each year.
  • Employee theft leads to the failure of 30% of small businesses.

Source: business.com

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