From KPAX, “Teeling told MTN News that the calls never stop, adding that 90% of his caseload involves employee embezzlement. It’s generally not sophisticated and it’s often that valued employee who does it — the last person you’d ever expect.
“I just felt violated and really felt hurt. And then I’m thinking what about other employees, what’s going on here?” said Bill Underriner of Underriner Motors in Billings.
It took Underriner, and out of state accountants, four months to figure out just how much his former bookkeeper had embezzled over a three year period.
No business is immune, with the FBI reporting that every single bank or credit union in Billings has been a victim of theft. It’s often a mistake – a fluke – that the employee even gets caught.
“I had a bank teller that had stolen quite a bit of cash from a local community bank,” Teeling recalled. “The way she did it was at the end of each day, she made a false entry into the books and records to cover up her theft. But at 8:01 the next morning she had to be at work to reverse out that entry.”
Look at bank statements and all incoming mail. The owner should receive and open bank statements. Also, be wary of unpaid bills, letters from the IRS or other notices of unpaid bills. Employees often steal by paying personal bills with company checks or other transactions. Often, company bills end up getting delayed. Watch for bounced checks, complaints from vendors and balance bank statement each month.”