Search for Unknown Bank, Saving, Brokerage & Offshore Accounts
Enforce a Civil Judgment for Collections, Levies, Liens, or Garnish
Surveillance of an Individual, Business or Workers’ Comp
Insurance Carriers, TPA’s, Law Firms, Employers & Municipalities
Stryker will work with our clients to outline and define the scale of the embezzlement project, identify the scope of work and create an action plan outlining what procedures we will perform. The purpose of a detailed action plan is to outline a strategic process of evidence acquisition (evidence management) that can be explained, preserved and presented as evidence during judicial proceedings. During this process we conduct interviews with implicated personnel to uncover key details. Stryker will also conduct background research and where appropriate interrogation to uncover key information relevant to the investigation.
Employee Theft… you might think your employees would never steal from you, but you couldn’t be more wrong–employee theft costs U.S. businesses up to $200 billion each year. Learn how to protect your business. Most employees are very honest. But unfortunately, inside many companies, there are a few workers looking to steal money or products from the company. Employee theft costs U.S. businesses up to $200 billion in annual losses, according to one estimate by Tatiana Sandino, an associate professor in accounting and management at Harvard Business School. A very real threat, employee threat can do serious damage to a small business’s bottom line.
Embezzlement is the act of dishonestly withholding assets for the purpose of conversion (theft) of such assets by one or more individuals to whom such assets have been entrusted, to beheld and/or used for other purposes. Often it involves the trusted individual embezzling only a small proportion or fraction of the total of the funds or resources he/she receives or controls; in an attempt to minimize the risk of the detection of the misallocation of the funds or resources. When successful, embezzlements continue for years (or even decades) without detection.
- One out of every 36 employees was apprehended for theft from their employer in 2011. (Based on comparison data of over 2.8 million employees.)
- Apprehensions: Survey participants apprehended 71,505 dishonest employees in 2011, up 3.3% from 2010.
- Recoveries: Dollars recovered from dishonest employee apprehensions totaled over $47 million in 2011, an increase of 5.6% from 2010.
- Apprehensions: 69,373 dishonest employees were apprehended in 2010, down 0.4% from 2009.
- On a per case average, dishonest employees steal almost 6 times the amount stolen by shoplifters ($665.77 vs $113.30).
- The average dishonest employee case value in 2011 was $665.77, a 2.29% increase over 2010’s average case value ($650.84)
The FTC’s Criminal Liaison Unit helps prosecutors bring more criminal consumer fraud cases.
The FTC’s civil enforcement actions shut down fraud and get restitution for consumers or disgorgement to the U.S. Treasury. Examples of FTC fraud cases include:
- telemarketing scams
- mortgage and other debt relief rip-offs
- bogus health products
- sweepstakes scams
In many of its cases, the FTC often develops evidence that proves these defendants knew about the fraud. That evidence often supports criminal fraud prosecutions and includes:
- victim statements
- undercover sales calls and purchases
- certified bank, business, and phone records
- insider testimony
Catching Dishonest Employees as a Supervisor
- Carefully document each instance of theft.
- Look for inconsistencies in your records.
- Pay extra attention to special register functions.
- If cash is being stolen, instate a register-counting system.
- When possible, consult video surveillance data.
- Hold one-on-one employee interviews for information.
Consider hiring an outside investigator for an internal audit.
Confront stealing employees only when you have convincing evidence.