Employee Dishonesty

The following rather frightening numbers come from QuickBooks “goddess” Susan Gunn. She recommends Fidelity Bonds for all employees handling money. The sad fact is that the same features of digital technology that make it faster and easier for us to do business also make it faster and easier for thieves to steal from us. Most likely your system has audit trails and other features built in to help discover and track dishonest transactions. However most of us need an expert like Susan to help us use them.

At LEAST 3 out of 5 practices are currently being embezzled in some regard. Some embezzlers are padding payroll, some are through petty cash, some are more complicated with a much greater dollar volume.

The average practice employee theft is currently averaging $250,000.00 prior to discovery.

via Employee Dishonesty Bonds, Advanced Book and Sad News.

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