A Note on Embezzlement & Theft

It is always interesting and rewarding for me when I hear a member share the value they received from a past CFBC workshop. It’s amazing to see the lasting effects of powerful nuggets of information we get from our speakers and peers.

Last week at Community In Forum, a member shared a few of the things she remembers from attending an Embezzlement and Theft program that the CFBC hosted in 2011:

  1. Avoid using computerized signatures or stamps to sign checks. Always hand sign them!
  2. Have bank statements sent to your home address instead of your business address.
  3. Make sure you get copies of your checks so you can verify signatures.
  4. Make sure there is an approval process on wire transfers and ACH’s.

I remember this workshop well and the impact that the panelists had on me too. Each of them had some sort of theft experience and it was all conducted in a different manner. In my family business, we had an experience with theft too. An employee was falsifying time sheets and the way we discovered it was through an APP that tracked his mileage. When the mileage didn’t add up we started digging and closely tracking him. Needless to say he no longer works for us but after going through it I felt foolish and vulnerable for being so trusting. It was certainly a lesson learned!

Cray, Kaiser Ltd. recently shared an article on Preventing Business Fraud and it served as another reminder for me to do a mental check to make sure we’re safe. I hope you find these reminders and tips helpful!

Judy Headshot 2015 FINAL
Have a joyful day,
Judy Hogel
CFBC Executive Director

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