Mike Bohinc

Accountant and Chief Financial Officer of Norhio Plumbing

October 20, 2022 3:30 pm

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Fraud in the Workplace – 5 Common Types of Employee Fraud

According to the Association of Certified Fraud Examiners, companies lose 5% of their annual revenues to fraud which translates to approximately $1 trillion in losses each year! Small businesses (less than 100 employees) suffer higher instances and higher losses ($150,000 average) than larger companies. Unfortunately, we’ve heard many horror stories of fraud in the contracting industry over the last 10 years. There are 5 common types of fraud perpetrated by employees. See how they occur in our industry and learn procedures you can implement to reduce your chances of becoming a victim of fraud.

Michael Bohinc is an accountant and Chief Financial Officer of Norhio Plumbing, his family’s company in Aurora, Ohio. He is an advisor-coach for the Service Nation Alliance and Alliance Premier. Michael has received the following awards in recognition of his work and service: 1) Contractor’s Service Award from the Ohio PHCC & 2) Servant Leader Award from the Service Roundtable. The Servant Leader Award is rarely presented and recognizes outstanding individuals who lead through service to their industry and the people in their industry. He is the youngest to ever receive each of these awards.