CSIS Insurance Services, Inc. Blog
More often than not, a business becomes a victim of embezzlement because someone in the company is desperate. This is usually the case unless a professional thief specifically targets your company. On the other hand, one motive for this act is the desire to have a wealthy lifestyle.
Who Are The Possible Perpetrators
Before the embezzlement, your bookkeeper is good at their job and even has a great personality. But, a financial problem one day can suddenly change their way of thinking.
But, there is another person to blame for this crime, and that is you. You need to perform due diligence and be always on your toes. If you did not notice the first fraud and embezzlement, then the perpetrator will also notice that you are unaware. Therefore, this could be the start of a series of embezzlements.
One thing is clear; embezzlers do not follow a specific profile. They do not act like thieves, most particularly do not look like one.
Signs That Your Company May Be A Victim Of Embezzlement
1. Workaholic - They do not want to take a vacation because they are afraid someone may temporary take their place and discover the crime.
2. Financial Difficulties - They are often requesting for advance salaries and are verbal about having trouble making ends meet. A gambling habit is also a reason for problems.
3. Extravagance - You know how much they are making and yet they have just purchased the most expensive car and suddenly have an expensive taste in clothes, food, jewelry, etc.
4. Territorial - They do not like other people going near their work area especially if they are working. They are territorial with their computer, desk, and job.
5. Disgruntled - They always complain about being not paid well by the company, and no one appreciates the work they have done. Overall, they are looking for pity from other people and have low morale.
One of the most effective ways of preventing embezzlement in your company is to keep track of your own books and do not give the job to only one person. It is best to divide and alternate tasks, so it is easy to see any errors.
If you are sure that there is embezzlement in your company, go to the authorities immediately and sue them in court. You have the right to get your money back.
We can conclude that embezzlement is unpredictable. This is exactly why you need to purchase a business owners policy to protect you from such crime. At CSIS Insurance Services, Inc., we work hard in making sure that our clients are well-protected with policies that they can afford. To learn more about how we can help you, please contact our agency at (888) 501-2747 or Click Here to request a free quote.
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