How can Employee Embezzlement be identified ?

What is embezzlement?
Embezzlement is described as the phenomenon of workplace theft in which an employee, who is entrusted with the safety of tangible or intangible property, steals that very same property. It is independent of the hierarchy of the position as it can be done by anyone- senior managers creating fake invoices to lower-level employees such as mere cashiers pocketing a few dollars. Some of the note forms or types of embezzlement's include:

After payroll
Vendor fabrication
Creation of false employees
Misusing credit cards
Pocketing cash
Forging or altering cheques
Unauthorized signing off transactions
Kickbacks from vendors or clients

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How can Embezzlement be identified?

Identification of any kind of workplace theft or embezzlement is certainly not an easy task, as the person who did this will take radical steps to keep the evidence under the carpet. But this is certainly the first step in the identification of the person and the theft; and as the preventive measure too. Though these signs or symptoms are an indicator, that embezzlement is undergoing.
Business-level:-

Missing documents
Inconsistency in accounting
Unusual activity

Employee-level:-

Irregularity in working hours
Refusal towards vacations
Seeking independence
Change in lifestyle

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It is crucial to understand that all the signs mentioned above are indicators of any type of embezzlement that may be cooking inside the firm. This doesn’t guarantee that it may be happening for sure and that too by a certain employee. Proper research and investigation must be done, preferably by a Certified Fraud Examiner before putting allegations and pressing charges.

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At NSKT Global we provides the complete range of advisory services to the SMEs as well as to the established businesses. Dealing in the industry for over 10 years. In countries across globe Namely UAE, USA and India.
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