When I worked at WF there was large scale Pcard embezzlement and collusion among employees to use the company credit card for personal expenses, i.e. food, vacations, and other personal expenses.
Has the bank begun the auditing and restricting use of PCards by criminal team members?
The last time I was there some guy in the Corporate Risk group would take trips to London and book travel the day before in business class for a $9,000 round trip ticket. Also, I knew employees who were in collusion and would lie for one another so they can take week long vacation trips and party and have orgies with men they picked up at bars in NYC.
Everything on a P card under $75 does not need a receipt but there is a daily limit to what you can spend and any travel is fully documented as to why the need for travel. Also, the criteria and allotment in department expense has been cut way down as also disclosed by the previous commenter
They cutting costs and laying of people so yes.