Steve Sorensen Embezzlement- How To Identify Embezzlement In Your Company?

Steve Sorensen Embezzlement- How To Identify Embezzlement In Your Company?

As a business owner trusting your employees is a good sign but when you over-trust your employees, there can be signs of embezzlement that can take place in the business in case you are not careful. When it comes to embezzlement, you might not be aware of the fact that it is taking place freely in your organization and your very own trusted employees who have worked with you for several years are at it. It is crucial for you to be safe and ensure that embezzlement does not take place in your company and spell doom for your business.

Steve Sorensen Embezzlement Prevention Tips-Identify the signs

 

Steve Sorensen is a qualified CFA in the USA and he helps his clients prevent embezzlement and prevent theft. He says that when embezzlement starts, you as a business owner might not even be aware of it. His Steve Sorensen Embezzlement tips are helpful when it comes to curbing this crime and protecting your business. This is why it is crucial for you to stay alert and check out for the following signs.

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  1. Taking work home- This is the first step that most business owners have noticed when it comes to cases of embezzlement in their organization. They state that the crime begins with the employee wanting to take work home. However, it is a common practice today to take work home but if you have employees on financial jobs, you must find out why they wish to take bookkeeping accounts home. Most offenders take work home so that they can create cover for the theft that they commit. It is crucial for you to always check and review payments that are made to a new vendor to be safe.
  2. Shortfalls in your budget or profit- White collar crimes are very hard to detect. However, when it comes to sudden shortfalls when it comes to your profits or budget, you should immediately take note. There is a high possibility that petty cash is being drained from your accounts. As a business owner, do not trust your employees too much if you wish to be on the safe side.
  3. Sudden changes in lifestyle- Most embezzlers are tempted to show off their new car or designer clothes in the beginning. However, this point is not the only proof that the employee is guilty of embezzlement especially if he or she is working on financial jobs but cases have reported that they do resort to sudden lifestyle changes and have an unreasonable behavior. This is something that you as a business owner should note especially if you find unreasonable personality and lifestyle changes all of a sudden.

Therefore, when it comes to embezzlement, ensure that you keep the above points in mind. You never know when it may strike and if you are not cautious it will cost your company dear today and in the long run. When it comes to embezzlement, ensure you follow the above Steve Sorensen Embezzlement prevention tips as they will help you in a large way to check employee theft and protect your organization with success!

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