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Regardless of the size of a company, no one is immune to embezzling. Every industry is vulnerable to embezzlement in some shape or form. Embezzlement occurs more often than not. Companies find themselves in situations where assets are missing or books weren’t kept honestly. If left unsolved, embezzlement can continue to harm your company for years to come. This can eventually end up running a business, especially a small one, into bankruptcy. Instead of letting dishonest employees or partners take advantage of your company, hire a private investigator to handle your embezzlement cases. Here is how a PI can help stop embezzling.
What Is Embezzlement?
Embezzlement is dishonesty when it comes to appropriating or secreting assets, typically financial. It is a financial fraud that may range from minor to extremely sophisticated schemes. Embezzlement is premeditated and methodical while attempting to minimize the risk of detections. While it is most commonly committed by employees, business partners have also been known to embezzle. Once the guilty party is identified, he or she can be prosecuted for criminal fraud or civil fraud.
Background Checks
Private investigators lower the risk of embezzlement before it is even a problem. They do this by simply running background checks. When it comes to hiring new employees, it is important for employers to know about their past, especially past employment. Hiring the wrong person can end up costing your company. Background checks cover criminal records, past employment, credit reports, references, education, drug and health screening, and identity verification. Background checks help to point out any early warning signs or past incidents that may point to future embezzlement. By hiring a PI, you can help lessen the risk of having to suffer from embezzlement.
Discover Complex Embezzlement
While some embezzlement classes are simple and easy to deal with, others are not. Often times, embezzlement schemes are extremely complex and require expert planning to pull off. This means that those behind the embezzlement are good a covering their tracks, which makes it nearly impossible to catch them. Private investigators make sure that even the most complex embezzlement cases don’t go unsolved. PI’s are trained to prove these cases of embezzlement to ensure that the guilty party is brought to justice.
Obtain Digital Evidence
When it comes to an embezzlement case, evidence is crucial. Private investigators are trained to obtain digital evidence from multiple devices including server files, laptops, and cell phones. This step of obtaining digital evidence is especially critical to be done before notifying the employee of the investigation. Once you have the evidence you need from your PI, it won’t matter if the suspect attempts to cover up any evidence or provide dishonest information. Your private investigator provides you with all of the necessary evidence to make it a clear, cut case of embezzlement.
Identify the Guilty Party
Besides being able to run background checks and run other tests, private investigators are trained to identify the guilty party. Employees that embezzle often give off a few red flags. These red flags may include: working alone, refusing to take time off, living beyond their means, and sneaking physical items from the office. While some of these red flags don’t mean much, they sometimes can point PI’s in the right direction on who to investigate. Along with observing common red flags, private investigators conduct interviews and research. While observations don’t hold up in court, interviews hold as recorded evidence and can help identify and convict the embezzlers.
Provide a Third View
The initial reaction that most business owners have when embezzlement occurs is shock and denial. This is because the guilty party is often a person who has been with the company for several years and has built up trust in his or her co-workers. Hiring a private investigator to find out the truth when it comes to embezzlement can help eliminate any unnecessary confrontations and possible additional criminal charges. PI’s provide a sort of third perspective on the situation to ensure that the guilty party is guilty and that there is no grey area in the case.
Embezzlement cases can be difficult and sensitive. They involve a broken trust between employer and employee, which is why you should turn to the professionals. At All Private Investigations, we take embezzlement seriously. When it comes to cases of embezzlement, we take the necessary steps to find the thief and bring him or her to justice. Often, if these cases are done by an amateur, that gives the guilty party the opportunity to destroy incriminating evidence. Don’t let your employees continue to steal from your company. Contact the professionals at All Private Investigations today at 631-759-1414.