Sadly, in the past 12 months, I have been hired to investigate or assist in investigating employee embezzlement more times than in the past 15 years combined. Embezzlement is the theft or misappropriation of funds or property placed in one’s trust, belonging to one’s employer. Employee theft costs are on the rise, and they are getting more sophisticated in their methods. They justify their actions by saying they aren’t hurting anyone.
Employee theft or embezzlement can come in many forms, not all of which are preventable. The key to reducing employee theft costs is early detection. Once detected, many employers comment that signs had been there all along. And if only they had “seen the signs sooner.” What are some of the forms of employee theft? What signs should you look for to detect employee theft?