A former administrative assistant for [employer] was recently sentenced to three years in state prison for charging $243,000 on a company credit card for luxury personal items at upscale retailers including Gucci, Louis Vuitton, and Victoria’s Secret. The [defendant] worked mostly from home, arranging employee training, travel, and parking while between 2013 and 2016. She […]
February 1, 2018 |
embezzlement, Embezzlement and Internal Fraud, Uncategorized |
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Be forewarned that embezzlement crimes are happening to every kind of organization imaginable! As shocking as it may seem, according to a 2017 study by global specialty insurer Hiscox, last year workplace embezzlement cases cost companies an average of $1.13 million. Even as you read this, an embezzler or another internal fraudster may be ripping […]
Think acts of embezzlement are not thriving in houses of worship throughout the United States? If you answered no, well think again! To help prove my point, let’s start by simply “googling” Church Embezzlement, and don’t be surprised to find results reading somewhere around 499,000. Next, let us take a brief look at five church-related […]
If you think business credit card fraud in operations such as yours is not a problem, think again. This form of internal fraud/embezzlement is not only widespread — it’s legendary. Simply Google the words, “business credit card fraud” and don’t be surprised to find results showing “about 16,200,000”. My studies show that any employer’s credit […]
Acts of employee embezzlement can and does cripple and destroy entire organizations, whether it be the smallest little league operation or largest multi-billion dollar corporation, medical facility or private practice, school or university, religious or non-profit organization, law enforcement or government agency. All organizations, without exception, are vulnerable to acts of employee embezzlement. Perhaps you […]
Even as you read this, an embezzling or other internal fraudster may be ripping off your organization. I mean right this minute! But how would you know? That is the question, is it not? If you believe your operation is not at risk to embezzling, be forewarned these crimes are happening to every kind of […]
The world has always had a goodly share of liars, cheats, thieves and embezzlers. However, embezzlement crimes by highly trusted employees have reached an all-time high. These ultimate betrayals of trust show no signs of reversal unless a dramatic change takes place throughout the business world. These crimes are happening to every kind of organization […]
Hi Folks: Something is wrong with my blog site! Over the past few weeks I have not received a single post regarding my published articles. When I say not a single feedback message, I mean zero, zilch, zip, nothing in feedback. While in the past I received approximately 100 responses per week regarding those articles […]
This morning I received an Immediate Release notification from the Department of Justice, U.S. Attorney’s Office, District of Minnesota about an embezzlement scheme. In bold print, “Former CFO Of [City] Industrial Contractor Charged With Embezzling More Than $5.7 Million” The story behind this alleged scheme differs little, if any, from those crimes that I have […]
Folks, as you know I previously wrote two posts (3-17th and 3-4th ) relating to poor internal controls and insufficient management oversight/monitoring. Well, once again I am posting another embezzlement crime that should not have happened: First, it is important to say that this scheme was able to take place over a period of thirteen […]