Employee Embezzlement: The Hidden Threat That Can Sink Your Business
Download MP3 Example of Embezzlement Gone Wrong:
- A midsize newspaper company in Central Oregon's Willamette Valley fell victim to employee embezzlement.
- The stolen funds forced the company to shut down, lay off its entire staff, and stop printing the newspaper.
Why Embezzlement is So Devastating:
- Profit margins for most companies range between 15% to 25%.
- High-margin businesses may have 30%, while low-margin ones like restaurants and grocery stores hover around 10%.
- If someone steals 20% of a company's funds, even a healthy 15% profit margin won’t sustain operations.
Lessons for Businesses of All Sizes:
- No matter the size, companies need strong preventive measures to avoid fraud and embezzlement.
- Perform due diligence and implement best practices to safeguard finances.
What To Do If Fraud is Suspected:
- Investigate any suspicions of employee fraud or embezzlement thoroughly.
- Taking proactive steps can protect your business from financial ruin.
For more insights and resources, visit our website. Protect your company’s future today!
