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5 signs of possible internal fraud

 

More than 1 small and medium-sized business in 4 in Canada has been the victim of workplace fraud in 2011. There are many different ways of embezzling, but the result is always the same: The company ends up losing some of its hard-earned money through illegality.

Unfortunately, 1 small and medium-sized business in 10 has no way of detecting fraud and 6 small and medium-sized businesses in 10 do not conduct periodical risk assessments.

You must remain vigilant! Many of these thefts are jointly planned by a couple of long-standing employees. After a few undetected thefts, they grow in confidence having not been caught and become even more cunning... going after larger and larger amounts!

5 Situations that should raise an eyebrow… or two

If any of these 5 scenarios apply to you, then it’s time you conducted your own little investigation...

1. 

You write blank cheques during your absences

2. 

You excuse unexplained differences in expenditures

3. 

You notice variations (even small ones) in the cash register

4. 

Your inventory does not balance

5. 

You allow several people uncontrolled access to the cash

Worried? Check it out for your own peace of mind. Then, follow the tips below to regain control of the situation and better protect yourself. If you have additional questions about internal business embezzlement and what measures can be taken, please don’t hesitate to contact us.

 

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