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THEFT

The document discusses different types of theft that can occur in a business context, including identity theft, employee theft, and fraud. Identity theft involves stealing someone's personal information like social security numbers to profit off of them without consent. Employee theft encompasses stealing any company assets, including cash, supplies, merchandise, or trade secrets. Fraud involves deliberate deception to unlawfully gain benefits. Examples provided include employees stealing from their employer by deleting items or not scanning them fully, as well as recent cases of identity theft and fraud.

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Jatin Nandal
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52 views11 pages

THEFT

The document discusses different types of theft that can occur in a business context, including identity theft, employee theft, and fraud. Identity theft involves stealing someone's personal information like social security numbers to profit off of them without consent. Employee theft encompasses stealing any company assets, including cash, supplies, merchandise, or trade secrets. Fraud involves deliberate deception to unlawfully gain benefits. Examples provided include employees stealing from their employer by deleting items or not scanning them fully, as well as recent cases of identity theft and fraud.

Uploaded by

Jatin Nandal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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THEFT

Presented by:
Lakshay Kapoor
MBA 2nd Year
35115210009
DEFINITION
Theft, in law, a general term covering a variety of specific types of stealing,
including the crimes of larceny, robbery, and burglary. Theft is defined as the
physical removal of an object that is capable of being stolen without the
consent of the owner and with the intention of depriving the owner of it
permanently.
Section 378 in The Indian Penal Code
Whoever, intending to take dishonestly any moveable property out of the
possession of any person without that person’s consent, moves that property in
order to such taking, is said to commit theft.
TYPES OF THEFT IN BUSINESS

Identity
Theft

Employee
Fraud
Theft
• Identity theft and identity fraud are terms used to refer to all types of crime in
which someone wrongfully obtains and uses another person's personal data
in some way that involves fraud or deception, typically for economic gain.
Unlike your fingerprints, which are unique to you and cannot be given to
someone else for their use, your personal data especially your Social
Security number, your bank account or credit card number, your telephone
calling card number, and other valuable identifying data can be used, if
they fall into the wrong hands, to personally profit at your expense.
SOME EXAMPLES OF RECENT CASES
• Central District of California. A woman pleaded guilty to federal charges of
using a stolen Social Security number to obtain thousands of dollars in credit
and then filing for bankruptcy in the name of her victim.
• A man was indicted, pleaded guilty to federal charges and was sentenced
to 27 months' imprisonment for obtaining private bank account information
about an insurance company's policyholders and using that information to
deposit $764,000 in counterfeit checks into a bank account he established.
66C. PUNISHMENT FOR IDENTITY
THEFT
Whoever, fraudulently or dishonestly make use of the electronic signature,
password or any other unique identification feature of any other person, shall
be punished with imprisonment of either description for a term which may
extend to three years and shall also be liable to fine which may extend to
rupees one lakh.
[* Inserted vide Information Technology Amendment Act, 2008]
EMPLOYEE THEFT

Theft is defined as any stealing, use or misuse of an employer’s assets without


permission. The term employer’s assets are important because it implies that
employee theft involves more than just cash. In many industries, there are
much more important things than cash that employees can steal from a
company. Below are some of the different assets that employees normally
steal from their employers:
• Money – the most common asset stolen from employers.
• Time – Occurs when an employee is paid for time that he/she did not work.
This usually happens through falsifying time keeping records, or when
employees are not working while on the job (although difficult to prove).
• Supplies – Common examples of theft of supplies include office supplies
(paper, pens, computers, etc.) and restaurant supplies (food, condiments,
silverware, etc.).
• Merchandise/Company Property – Theft of products that are to be sold.
• Information – Stealing product designs and trade secrets.
EXAMPLE
5 Walmart employees arrested in shoplifting scandal
WALTON COUNTY, FL (WALA) -Walton County Sheriff's Deputies arrested
five Walmart employees, ranging in ages 19 to 25, following an organized
attempt to steal items from the store.
The crimes occurred between Aug 11th and August 22nd on more than one
occasion involving all five suspects. One of the suspects admitted in her
statement that it was "an associate thing" and that they were "looking out for
one another".
The scam went as follows; one employee would bring items to the register
where their friend was working and scan items and then delete the items from
the transaction. Also, at times they would make the motion like items were
being scanned without actually scanning them. The items would be placed in
bags and the employee would leave the store with the unpaid items
FRAUD

A false representation of a matter of fact—whether by words or by conduct,


by false or misleading allegations, or by concealment of what should have
been disclosed—that deceives and is intended to deceive another so that
the individual will act upon it to her or his legal injury.

Fraud takes place when a person deliberately practices deception in order


to gain something unlawfully or unfairly. In most states, the act of fraud can
be classified as either a civil or a criminal wrong. While fraud is most
commonly committed to obtain benefits of value, it sometimes occurs solely
for the purpose of deceiving another person or entity. For instance, if a person
makes false statements, it may be considered fraud, depending on the
circumstances.
EXAMPLES OF FRAUD
• Bizman in custody in Rs 8 crore fraud case :- Businessman Ashok Mittal, who
was arrested in connection with Rs 19 crore fraud in Chandigarh, has been
taken in one-day police custody by Panchkula police in the case of another
forgery of around Rs 8 crore.
• Rs 2,000 crore Hawala scam unearthed in Mumbai :- The Directorate of
Revenue Intelligence (DRI) has blown the lid off a hawala scam, wherein
documents of common people were stolen to transfer large amounts of
money out of India.

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