Fraudulent Fuel claims crippling business News - Fraudulent Fuel claims crippling business
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25 February 2011

News - Fraudulent Fuel claims crippling business

By Ben Turner @ 06:26 :: 1594 Views :: 0 Comments :: Article Rating
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For many sales professionals the administration involved with claiming fuel miles is a case for fuel cards, but for Sales Directors and Financial Directors there may be a more worrying reason to look at this area.

Fuel cards are vital in the fight against fraudulent fuel claims which are expected to rise as austerity measures kick in, says leading fuel card reseller The Fuelcard Company

New research has revealed that around 25 percent of all fuel claims could be exaggerated, costing fleet businesses millions of pounds every year at a time when budgets are already stretched.

Jakes de Kock, Marketing Director of The Fuelcard Company said fuel cards could help to reduce fraud amongst business drivers.

“Fuel cards can significantly reduce fraudulent fuel claims by taking the responsibility for claiming fuel expenses out of drivers’ hands completely. Rather than relying on the honesty of their employees, fleet managers can see exactly when, where and how much fuel was purchased on a monthly invoice, making it virtually impossible for their drivers to fabricate journeys or exaggerate their fuel claim.

“Using a fuel card will also prevent employees from buying any unauthorised extras such as magazines, or food as only fuel can be bought using a fuel card,” he added.

Fraud costs the UK economy £136 million every year, which amounts to serious losses for businesses struggling to manage tight budgets.

Common ways of committing mileage fraud include exaggerating the length of journey times, claiming for a journey which they made but was funded by a colleague, making unnecessary journeys and fabricating journeys completely.

“At a time when the cost of fuel is higher than ever, it is imperative that fleet managers root out any dishonest employees who could be costing their business money. Investing in fuel cards is a good way to do this and will also streamline the entire expense process, reducing the need to sort through dozens of receipts or expense forms every month,” said de Kock.

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