INDIANAPOLIS CORPORATE INVESTIGATIONS

Best Ways to Avoid Corporate Theft  

Indianapolis Private Investigation assists in Indianapolis Corporations that have internal theft problems propose ways to prevent theft in your company.

The total cost of employee theft and embezzlement of funds costs corporations billions of dollars a year. In fact corporate theft totals more loss and revenue to than all bank robberies, shoplifters and burglaries combined. Before a corporation thinks that they are safe from employee thefts, they should think again. Security Specialists and Private Investigative firms estimate that up to 30% of employees steal and 60% of employees steal if given the opportunity and motive. The three main reasons corporate theft among employees is one the rise is due to an employees perception that they are being overworked, underpaid, or not being seen in a favorable manner. Other employees do it because they think that they will never be caught. (1)

Corporate theft and fraud has been a large contributor to business failures. In order to curb employee theft and fraud it is important for a corporation to act as a watchdog and look for the signs. Some of the most common signs of employee theft are:

• Sudden change in lifestyle or an increase in the standard of living
• Close relationships with buyers, suppliers, or even outside consumers.
• Staying later or arriving late for scheduled shift.
• Use of drugs and alcohol.
• Borrowing of money from other employees(1)

In addition, for looking for these signs among employees it is also important to know the most common ways that corporate theft occurs. The most common forms of employee theft are

·         Forging receipts,

·         Changing prices on receipts, hiding receipts, keeping loose change,

·         Pilfering merchandise

·         The creation of a fictitious payroll for a fictitious employee,

·         Over billing of expense accounts, and forging of accounting records.(1)

 Know your employees. Conduct through pre-employee screening and an in-depth background check on all employees before you hire them. The cost of hiring a private investigative firm that specializes in corporate theft is a minimal compared to the high risk of loosing revenue by letting and employee go unchecked.  A Private Investigative firm specializing in corporate investigations can also be used to uncover internal theft and embezzlement, schedule and payroll tampering, productivity loss, electronic crimes within a company including identity theft, undercover operations, and fraudulent insurance or worker’s compensations claims. In addition, a corporation can also take internal steps by rewarding employees who report theft, distribute written and clear policies on corporate theft, and partner with employees by always having an open door policy regarding questions or concerns that an employee has. By taking these suggestive steps, corporate theft can be significantly reduced.

Sources used in this article.

“Common Sense Measures Preventing Employee Theft” Author Unknown Accesses on 02/05/07.

Please contact Thomas Lauth for further information 800.889.3463