Area in which a small business or service can be vulnerable:
• Long term, long time employees in
your financial division that never take a vacation
You might
believe this to be a good thing, but any scheme or plan to systematically
divert funds takes care and maintenance.
An employee who is so much in control may be hiding something.
How to
Address This: Force all employees to
take a two week vacation. Not split –
the full two weeks. Most fraud schemes
will fall apart if left unattended for two full weeks and your substitute can
inform you of any aberrations.
CAVEAT: If you have two employees who cover each other’s position, bring
in a third to fill the vacationers spot.
You might have fostered a team approach to your theft.
By Maura Phelan (maura@lpvlaw.com)
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