Employee Theft
Whether you’re part of a small family business or a large business enterprise or a CEO of a financial institute or a retail outlet, there’s bound to be a lot of employees to help with keeping their businesses running smoothly.
Although most people think of themselves as an honest employee, it’s estimated that 95% of all companies will meet the unfortunate fate of employee theft at one time or the other. The fact is, the more staff that are present, the more vulnerable companies are to becoming a target of money laundering, embezzlement, fraud, and the good old five-finger discount.
Employee theft can cause a lot of damage to a company and is considered a felony, yet, most companies don’t seem to have the high level of prevention in place that a home invasion or shoplifting does.
While employee theft may not be an area of concern for a retail store owner, it’s a commonly known fact that thefts are almost always an inside job. Imagine how bad this can be if you work at a bank!
A scarier reality is that robberies aren’t always about the money either. Stolen identities are all over news headlines and a fear that every person has. Preventing theft within facilities such as law enforcement agencies or healthcare facilities is extremely crucial since these companies hold a lot of personal and confidential information.
Having a breach of security inside of an organisation where millions of people put huge amounts of trust into professional hands could cause people to panic or much, much worse, put innocent people’s lives at risk just like the infamous Tylenol Murders.
Top 10 Ways Employees Steal
Over the years, better ways to counter employee theft has developed but so has employee theft! What’s worse is that pilfering continues to evolve every time a new system is put into place to prevent the type of theft that recently occurred instead of preparing for future robberies. Take a look at the top 10 most common ways employees (the bad ones) rob businesses blind:
Since the world doesn’t hold a magical, perfect anti-theft system that can provide you with a holistic security solutions against every type of robbery, the best solution that can be put into action is to always be two steps ahead of a criminal mind.
Although most people think of themselves as an honest employee, it’s estimated that 95% of all companies will meet the unfortunate fate of employee theft at one time or the other. The fact is, the more staff that are present, the more vulnerable companies are to becoming a target of money laundering, embezzlement, fraud, and the good old five-finger discount.
Employee theft can cause a lot of damage to a company and is considered a felony, yet, most companies don’t seem to have the high level of prevention in place that a home invasion or shoplifting does.
While employee theft may not be an area of concern for a retail store owner, it’s a commonly known fact that thefts are almost always an inside job. Imagine how bad this can be if you work at a bank!
A scarier reality is that robberies aren’t always about the money either. Stolen identities are all over news headlines and a fear that every person has. Preventing theft within facilities such as law enforcement agencies or healthcare facilities is extremely crucial since these companies hold a lot of personal and confidential information.
Having a breach of security inside of an organisation where millions of people put huge amounts of trust into professional hands could cause people to panic or much, much worse, put innocent people’s lives at risk just like the infamous Tylenol Murders.
Top 10 Ways Employees Steal
Over the years, better ways to counter employee theft has developed but so has employee theft! What’s worse is that pilfering continues to evolve every time a new system is put into place to prevent the type of theft that recently occurred instead of preparing for future robberies. Take a look at the top 10 most common ways employees (the bad ones) rob businesses blind:
- Straightforward theft of goods and money
- Under-charging customer accomplices
- Providing sensitive information to outside accomplices such as credit card information and personal bank account information for identity theft
- Adjusting medicine delivery inventory and selling the remainder for personal profits
- Under-ringing purchases at the cash register
- Law enforcement officers taking bribes to destroy evidence or leak inside information regarding ongoing investigations
- Deliberately damaging goods to buy at staff discount
- Using company resources for personal business such as take home vehicles and company fuel
- Switching perfect items with knock-offs in the warehouse or store
- Adding last-minute items to the receipt but not ringing it up
Since the world doesn’t hold a magical, perfect anti-theft system that can provide you with a holistic security solutions against every type of robbery, the best solution that can be put into action is to always be two steps ahead of a criminal mind.