WHO IS MOST LIKELY TO EMBEZZLE FROM YOU?

EMPLOYEES YOU TRUST!  Maybe even your favorite employee. The one who is there when you arrive and is there when you leave. Such dedication! I am sorry to say it; however, it is absolutely the truth. The reason why is because the criminal mind is very clever. Look at it this way:  Let's say someone is in prison for theft. Their world has gotten really, really small in prison in a small cell. So small that they pay attention to two or three things....very close attention to these few things. After just a short amount of time...............

they know everything there is to know about these few things inside and out. The prison guard on the other hand has many responsibIlities on their mind. So many things that they can only give each thing a small amount of time. In a 40 hour work week, the prisoner can easily spend 13 or so hours on each of three things.  The guard can spend probably 1-3 hours on each thing at the very most. Get the picture?  The criminal mind will NOT miss an opportunity because they pay very close attention. They have to; otherwise, they would either miss the opportunity or would immediately get caught.

Solution:  Create good internal controls, get help in understanding what that means in your industry and in your office.  Get clear on what needs to be done.  An outside third party who is an expert in creating and implementing these controls is who should be hired based on a recommendation from someone you trust (NOT an employee handling the $$). A sensitive employee would not be offended by a third party.  MANY EMPLOYERS DO NOT AND WILL NOT IMPLEMENT GOOD INTERNAL CONTROLS FOR FEAR OF UPSETTING OR OFFENDING EMPLOYEES WHO HANDLE THEIR MONEY! 

DON'T FALL INTO THIS TRAP...DON'T BE THE NEXT VICTIM!!!!

Comments

[Suzi Raines]

Hi Jean~

Thanks so much for your comments on my blog. It is great to see yours up and running, as well. I like it - simple and easy to follow! I hope you get to do some more sessions at the academy soon...I would really like to hear your talk sometime. Will you by any chance be speaking at the free seminar in September? That might be a great way to get some good exposure...get it? Exposure for the naked accountant!! ;)

It was good hear from you! Have a great day~

Suzi Raines

[Stephen Holt]

This is very sound advice. Hiring a third party based on the advice of the person handling the money can completely remove that person from the ability to be objective. In other words even if they are not of criminal intention they may see an opportunity.

Stephen

[Tom Burris]

Yep. And they will look you right in the eye while doing it too!!!

Happened to my wife's old boss. Nearly ruined him.

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That was my thought,too.

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