Thursday, September 23, 2010

Embezzlement: It Can Happen To You

The Abilene Reporter-News published an article today about how common embezzlement schemes are today and what organizations can do about it. According to the article, several Abilene-based businesses, including Hendrick Health System, Cary Services, Pee Wee Jets Pop Warner Football Team and KGNZ Radio, all recently experienced embezzlements by trusted employees. The article suggests the following steps to prevent embezzlement:

  • Conduct background checks;
  • Separate accounting duties;
  • Require time off for accounting staff;
  • Require multiple signatures; and
  • Conduct surprise audits
The article also quotes Marquet International statistics from our Annual Report On Embezzlement.

FraudTalk profiled the Hendrick Health System case here.

Read the whole article here.

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