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 […]
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 […]
I believe that no internal fraud can take place within any organization without the fraudster: 1) holding a position of trust, 2) having little or no supervision or oversight, and 3) being perceived as honest and trustworthy. Together, these three elements foster acts of dishonesty and betrayal. Who’s committing these crimes? Don’t be fooled […]