Office Magic Newsletter
Dynamite Your Status-Quo to Achieve Breakthrough Success.
One reason that embezzlement can go undetected is that the embezzler seems to be the very model of your ideal employee.
Take That Vacation Time -- Or Else!
Kerviel told investigators, "A trader who doesn't take vacation is a trader who doesn't want to let anyone else look at his book."
As we say in our report, "It Won't Happen in My Practice: Just Do This Stuff to Protect Against Embezzlement:"
<< The profile of the typical embezzler matches the profile of the ideal employee. That's right. It's paradoxical. The classic embezzler has every appearance of a superstar employee. She comes early, stays late, refuses vacation, and even refuses help. She might travel a long distance to come to work for you. It sounds too good to be true, and sometimes, it is too good to be true. >>
Indeed, the Federal Deposit Insurance Corporation (FDIC) recommends that banks mandate two-week vacations for employees as a safeguard against fraud. They say that "perpetration of an embezzlement of any substantial size usually requires the constant presence of the embezzler in order to manipulate records, respond to inquiries from customers or other employees, and otherwise prevent detection."
Split up duties, check the work, and do everything we say in our simple checklist in our report!
Coming Next Month
We do and we do and we do for you folks.
Pat, Ginny, and Lorraine