Embezzlement Articles in Online Newspaper Cover Prevention, Detection and Other Issues Confronted by Businesses Concerned About or Victimized by Employee Theft

The Summit Daily News has recently run a series of helpful articles on embezzlement (note: you may be required to complete a quick and free registration process to access the articles).

A February 5th article discussed strategies for preventing embezzlement at one's place of business by, among other things, establishing controls that forestall dishonest practices, testing the controls to ensure the absence of loopholes, and setting up a good recordkeeping system (preferably with the help of an experienced accountant) to document losses in the event an employee does embezzle funds.

Another article offered examples of common embezzlement schemes such as (i) check kiting, and (ii) lapping (which involves the temporary withholding of receipts for accounts receivable payments).

A third article tells a fictitious story of embezzlement at a medium size business to illustrate the betrayal felt by executives when a trusted employees steals from the company and the conflict that often confronts management after a theft is discovered in terms of reporting the perpetrator to the police.

There are other articles as well (see the links at the bottom of each article).