Employee Theft

wiki-thiefLet’s talk about Employee Theft — won’t happen to you? —  You might want to think again …

An AICPA survey found that 82% of all small businesses suffered employee theft— to the tune of 125,000 dollars per crime.  Astonishingly, most of the thieves were not prosecuted! Another study revealed that a typical organization loses 5% of its revenues to fraud each year!!!!

So what can a business owner do?   The Association of Certified Fraud Examiners has created an anti-fraud deterrence and detection program that you can use in your place of business to prevent fraud.

Its 5 key action items are:

  1. Set up a Fraud tip hotline for anonymous reporting — far and away this is how the vast majority of theft is discovered.
  2. Utilize Surprise fraud audits.
  3. Institute separation of duties.
  4. Properly screen and vet new employees.
  5. Setup employee support programs for the inevitable human conditions that can lead to theft.

Employee Theft —  it can happen to any company — even yours.  There’s a lot more to learn — if you’d like to talk further, give me a call.


Related posts:

Employee Theft & Fraud — Part 1 of 2

Employee Theft & Fraud — Some Telltale signs – Part 2 of 2

Who is your Typical Thief?


Connect with Roger on Google+


Share This: