Employee Embezzlement[/b]
What is it?[/b]
Employee embezzlement takes many forms like payment of impermissible personal expenditures, the diversion of employer funds, or as simple as cash stolen from deposits. Long-term and substantial employee embezzlement is undertaken by employees who not only have access to cash or credit, but who also have the ability to hide the theft on the employer's books.
Why Employee Embezzlement?[/b]
This is usually the result of the growth and success of a business - the employer or key executive no longer has the time to handle day-to-day bookkeeping activities.
How to Avoid Employee Embezzlement?[/b]
Diligence in the hiring process for any employee having access to business financial resources, including deposit accounts and bookkeeping information is essential
Evaluation of employee's work history, and any personal financial problems including bankruptcy, foreclosure or significant judgments or liens
Conduct a criminal background or credit check for such employment hires.
Sending employees on compulsory vacation
Checking of commercial insurance carriers by employers & sue employee for the losses
On suspect of employee Embezzlement[/b]
Having a low key approach by employer to avoid aspersion claims
Speaking with the attorney before the conduct of internal investigation within leagall boundaries.
What is it?[/b]
Employee embezzlement takes many forms like payment of impermissible personal expenditures, the diversion of employer funds, or as simple as cash stolen from deposits. Long-term and substantial employee embezzlement is undertaken by employees who not only have access to cash or credit, but who also have the ability to hide the theft on the employer's books.
Why Employee Embezzlement?[/b]
This is usually the result of the growth and success of a business - the employer or key executive no longer has the time to handle day-to-day bookkeeping activities.
How to Avoid Employee Embezzlement?[/b]
Diligence in the hiring process for any employee having access to business financial resources, including deposit accounts and bookkeeping information is essential
Evaluation of employee's work history, and any personal financial problems including bankruptcy, foreclosure or significant judgments or liens
Conduct a criminal background or credit check for such employment hires.
Sending employees on compulsory vacation
Checking of commercial insurance carriers by employers & sue employee for the losses
On suspect of employee Embezzlement[/b]
Having a low key approach by employer to avoid aspersion claims
Speaking with the attorney before the conduct of internal investigation within leagall boundaries.