Scribd
Upload
64 views13 pages

Harsh Agarwal (20BBAR0044) Nayan Agarwal (20BBAR0958) Rishabh Mittal (20BBAR0058) Sahil Singhania (20BBAR0679) Shiven Anand (20BBAR0878)

This document outlines a presentation on employee theft. It includes sections on what employee theft is, why it matters for businesses, common types of employee theft, ways to combat theft, and conclusions. Employee theft is defined as unauthorized taking of money or property from the workplace. It can significantly impact small businesses, with some statistics showing 30% of businesses fail due to theft or embezzlement. Common types of theft include larceny, skimming, and fraudulent disbursements. The document recommends background checks, supervision, access control, and surveillance systems to prevent theft.

Uploaded by

Rishabh Mittal
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
64 views13 pages

Harsh Agarwal (20BBAR0044) Nayan Agarwal (20BBAR0958) Rishabh Mittal (20BBAR0058) Sahil Singhania (20BBAR0679) Shiven Anand (20BBAR0878)

This document outlines a presentation on employee theft. It includes sections on what employee theft is, why it matters for businesses, common types of employee theft, ways to combat theft, and conclusions. Employee theft is defined as unauthorized taking of money or property from the workplace. It can significantly impact small businesses, with some statistics showing 30% of businesses fail due to theft or embezzlement. Common types of theft include larceny, skimming, and fraudulent disbursements. The document recommends background checks, supervision, access control, and surveillance systems to prevent theft.

Uploaded by

Rishabh Mittal
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
You are on page 1/ 13

 Group 8: 3rd Sem, Sec A

 Mentor :Roopa Traisa

 Harsh Agarwal(20BBAR0044)
 Nayan Agarwal(20BBAR0958)
 Rishabh Mittal(20BBAR0058)
 Sahil Singhania(20BBAR0679)
 Shiven Anand(20BBAR0878)
CONTENT

i. What is Employee Theft?


ii. Why Does Employee Theft Matter?
iii. 10-10-80 Rule
iv. Types of Employee Theft
v. Combating Employee Theft, How to protect your business
vi. Cutting Edge Solutions to Theft Problems
vii. Avoiding a Lawsuit 
viii. Conclusion
ix. References
What is Employee Theft?

Employee Theft : the unauthorized taking, control, or transfer of money/property


from the work place, by an employee. 

 Small businesses are more vulnerable

 The reason why 1/3 of businesses fail each year = employee theft

 It takes 18 months, on average, to catch an employee who is stealing


Why Does Employee Theft Matter?

Though it may be timely and costly to protect valuable assets, there


are several reasons why it's important for a small business to do so.
Here are some eye-opening statistics to consider :-

 According to the Better Business Bureau and law enforcement statistics, 30% of
businesses fail because they experienced employee theft or embezzlement.

 A typical business loses 5% of its yearly revenue to theft.


• 22% OF WORKER FRAUD CAUSES
 BUSINESSES TO LOSE OVER 1 MILLION
DOLLARS.

• SMALL BUSINESSES ARE ESPECIALLY


IMPACTED BECAUSE THEY HAVE FEWER
RESOURCES TO PROTECT THEIR ASSETS
 AND RECOVER FROM A FINANCIAL LOSS.
CREATING A ZERO TOLERANCE POLICY BY
UTILIZING ALL OF THE PROTECTIVE
MECHANISMS AT ONE'S DISPOSAL IS
ESSENTIAL TO AVOID BECOMING ANOTHER
STATISTIC.
10-10-80 Rule 

 0 percent of people will never steal no matter what, 10 percent of people will steal
at any opportunity, and the other 80 percent of employees will go either way.

 Fraud prevention experts say that every business is susceptible to fraud


based on the 10-10-80 rule. Basically, you're right that some of your
employees would never steal from you — about 80% of them
(maybe). ... The characteristics of someone who may steal from you given
the right opportunity may surprise you.
Types of Employee Theft

1. Larceny is the stealing of cash or property

2. Skimming is stealing before the cash or property is recorded in the company's


books.

3. Fraudulent disbursements - schemes in severals forms; ie: billing and payroll


Employee Theft can happen in many ways. Some of the most common are listed
below.
Combating Employee Theft, How To Protect
Your Business
1. Perform background checks on applicants

2.  Consider giving an "honesty test“

3. Supervise employees

4. Make it difficult for employees to steal

5. Make a fraud-avoidance plan and set the rules

6.  Be alert to disgruntled or stressed employees, or those who have indicated that they are
having financial difficulties
Cutting Edge Solutions to Theft Problems 

 Problem: Taking ₹ from the register


 Solution: Internet Protocol Cameras

 Problem: Pilfering products


 Solution: Radio Frequency ID Tags

 Problem: Cheating on time cards


 Solution: Biometric ID System
Avoiding a Lawsuit

1. Conduct an investigation to determine if an actual theft occurred.

2. Figure out the extent of the theft and the methods used.

3. If you discover a theft and can pinpoint the employee doing the stealing immediately,
eliminate his or her access and/or remove him or her from the workplace.

4. Try to recover the money or property (Check insurance policy).

5. Take preventative actions to avoid theft and losses from happening again.
Conclusion

 Employees can steal money, time, supplies, merchandise, or information from their
employers.

 Employee theft causes bankruptcy, financial loss, litigation, and other problems. It is one
of the fastest growing crimes in the United States

 Preventing theft can be timely or costly, but the benefits outweigh any inconveniences or
expenses.

 To prevent occupational fraud/theft, use good hiring practices, implement a buddy system,
set up a surveillance system, monitor trash removal, create a report/reward system, and
form relationships with employees.
References

• Barling, J., Greenberg, L. (n.d.) Employee theft. Retrieved from


http://web.business.queensu.ca/faculty/jbarling/chapters/empl oyee%20theft.pdf

• NFIB the voice of small business. Retrieved from


http://www.nfib.com/business-resources/business-resources- item?cmsid=29624

• Pullen, J. (2012, October 24). Entrepreneur. Retrieved from


http://www.entrepreneur.com/article/224728

• Schaefer, P. (2012). Business know-how. Retrieved from


http://www.businessknowhow.com/manage/employee- theft.htm
THANK
YOU!

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy