Handling of employee fraud.

[Bitcoin.com97]

You can get rid of 1 or 2 employees who are known to be cheating, but there's no need to keep them. It's unlikely that all your employees would be tricking you if there wasn't something wrong with your leadership style or you've entrusted the wrong people with crucial tasks (usually involving company secrets). If that happens, it's just one sign that your company is doomed. But the greater damage has already been done, and it's usually only realized too late.

You are very correct , keeping such employee will only doom your investment,and those people don't really care about you and your business,what they are after is what they get from cheating you in the organization,so if such person is been caught,the best thing to do is get rid of them ,with that even people who want to join in such act  will be careful, sometime competitors don't crumble business but the people working for them ,such people should not have a place in any organization.

[Somto9Light]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

This just reminds me of a day I went to buy petrol from a petrol station, immediately I got there, I met an angry customer, literally displaying her displeasure and dissatisfaction with their services and she was literally shouting and yell at the pump attendant. The noise attracted the attention of their superior, whom I believed was their manager, I couldn’t get exactly what they were saying because I was on the other stance buying petrol, but from my observation, it appeared that this pump attendant had defrauded the customer by not punching in the requested/accurate amount so she could take some money for herself, I didn’t stick around to know what really happened cos it was none of my business, but that was actually the last time I saw that lady there, so I assumed my assumption was correct and she had been fired.

[L E G E N D A R Y]

This just reminds me of a day I went to buy petrol from a petrol station, immediately I got there, I met an angry customer, literally displaying her displeasure and dissatisfaction with their services and she was literally shouting and yell at the pump attendant. The noise attracted the attention of their superior, whom I believed was their manager, I couldn’t get exactly what they were saying because I was on the other stance buying petrol, but from my observation, it appeared that this pump attendant had defrauded the customer by not punching in the requested/accurate amount so she could take some money for herself, I didn’t stick around to know what really happened cos it was none of my business, but that was actually the last time I saw that lady there, so I assumed my assumption was correct and she had been fired.

I bet that the customer who had experienced that, or even some people saw the whole thing go down might not want to come back there again. This issue of staff’s dishonesty and fraud isn’t something to be taken lightly at all, because if that becomes the order of the day in any establishment, even if it is just one person who’s involved in such an act, it’ll take a matter of time before other staffs begin to join that one staff, and it’ll take time before such establishment collapses. Any staff who’s not willing to work honestly or go as far as defrauding customers should be taken seriously.

[Webetcoins]

When an employee fraud happens, there isn't really anything that makes you keep that person anymore, it's just already happened and no matter how good that person is, you should avoid that person.

I think it's clear that we are going to see things be a lot more worse if you keep that person. Because at that moment you are putting the thought "I did a fraud and they still kept me, then I could do it again" and they will. If you keep that person, I guarantee you that they will try to do it again.

[Yeesha]

You can get rid of 1 or 2 employees who are known to be cheating, but there's no need to keep them. It's unlikely that all your employees would be tricking you if there wasn't something wrong with your leadership style or you've entrusted the wrong people with crucial tasks (usually involving company secrets). If that happens, it's just one sign that your company is doomed. But the greater damage has already been done, and it's usually only realized too late.

You are very correct , keeping such employee will only doom your investment,and those people don't really care about you and your business,what they are after is what they get from cheating you in the organization,so if such person is been caught,the best thing to do is get rid of them ,with that even people who want to join in such act  will be careful, sometime competitors don't crumble business but the people working for them ,such people should not have a place in any organization.

One of the best way to maintain the stability and standardisation of your business or company is by providing a conducive environment with skilful, experience, kind and loyal employees, because loyalty is what makes a business to grow steady and firm. Examining the characteristics of your employees is actually very crucial, including their abilities, capabilities and their level of loyalty, tolerance and commitment. To run a business to the greatest level it requires several factors such as sharing ideas, utilisation, resources management, and so on. Employ good/ great and trustworthy people to ensure that your business is in safe hands. Some people are so wicked and will not hesitate to steal from you.

[sunsilk]

You are very correct , keeping such employee will only doom your investment,and those people don't really care about you and your business,what they are after is what they get from cheating you in the organization,so if such person is been caught,the best thing to do is get rid of them ,with that even people who want to join in such act  will be careful, sometime competitors don't crumble business but the people working for them ,such people should not have a place in any organization.

You don't have to keep employees who are dishonest to you and your business. Because it will be bad to your business keeping the employees who are alike to that.

The money that you're going to invest on them will be put into waste and will be a reason for the destruction not just to your business but also to your sanity.

You need not to be friends with your employees and there's a need to do better judgement that you'll choose the business than of your employees. There's a boundary between you as the boss and them as the employees.

[Cookdata]

When an employee fraud happens, there isn't really anything that makes you keep that person anymore, it's just already happened and no matter how good that person is, you should avoid that person.

I think it's clear that we are going to see things be a lot more worse if you keep that person. Because at that moment you are putting the thought "I did a fraud and they still kept me, then I could do it again" and they will. If you keep that person, I guarantee you that they will try to do it again.

A dishonest person shouldn't be in your business in once caught. If you see a person that you trusted so much have the mind to fraud you, don't even try to give them second chance, that chance you are giving them is like you are enabling them for another around. The best thing you can do is to forgive them but don't forget, sack them and let them go look for another job. Some people might change but the fact that you can't read people's mind, it's better you let them go.

Some people are naturally programmed to be a bad influence and it has nothing to do with character or whatsoever, there are people that are down to earth but if you work with them, you will regret every decisions that you have taken. Just like some scammers do, they win your interests and trust before they strike and this isn't something they do at a time. They take their time before they execute it, now imagine ever trusting a person that goes through this process to steal from you.

[hafiztalha]

Employee unethically defrauds the organization or company in which he works for his own benefit. If a company wants to develop its organization, then for this it should, if it suspects an employee, give some proof against him and investigate him so that he can avoid losing his company and at the same time, he should act according to his surrounding environment so that he can avoid damaging the environment around him. For this, it is also important that he can see the financial system of his organization to see whether the one who is controlling it is correct or not. Employee fraud can be a problem for any company, so a company should keep its control of its organization strong so that no malfunction can occur in its work.

Employee want to make extra money because they are poor e comically and they want to run their circuit which is not possible with job. People are doing their jobs but they are not satisfied with their job because they want to earn more and they can sell the secrets of your company if you are not available in your country and of you want to make your business strong always keep on eyes on your employees. Employees are doing job for money and they have not emotional attachment with your company and if your company will be in loss they will demand their income and always don't trust on your employees who are new. You should focus on your experience about people because it is necessary to win  to achieve big in life.

[justdimin]

When an employee fraud happens, there isn't really anything that makes you keep that person anymore, it's just already happened and no matter how good that person is, you should avoid that person.

I think it's clear that we are going to see things be a lot more worse if you keep that person. Because at that moment you are putting the thought "I did a fraud and they still kept me, then I could do it again" and they will. If you keep that person, I guarantee you that they will try to do it again.

I disagree, it depends on the person and the job. For example, if you manage a bakery for example, and you hired a chef that does everything, from bread to croissant to scone to whatever basically that person does it all. And you started small, like very small place with barely a room, no place to sit, just people come in, buy and leave. You man the register and he does the items.

You work together for 20 years, and now you have a much bigger place, you gave him 3 apprentice to help him, you hired 2 different people for the register to work in shifts, all thanks to him working there for 20 years and helping you build the business, at that point he might be getting a salary but he is like a partner.

If in that case, someone "steals" 100 bucks, would you mind? Sure you would say don't do that again, but would you fire? As you can see, there are some special cases where you may not be able to fire that person right away, and wait until something bigger happens and allow smaller things to fall between the cracks.

[MRY]

Employee want to make extra money because they are poor e comically and they want to run their circuit which is not possible with job. People are doing their jobs but they are not satisfied with their job because they want to earn more and they can sell the secrets of your company if you are not available in your country and of you want to make your business strong always keep on eyes on your employees. Employees are doing job for money and they have not emotional attachment with your company and if your company will be in loss they will demand their income and always don't trust on your employees who are new. You should focus on your experience about people because it is necessary to win  to achieve big in life.

One method of capital loss prevention is to supervise workers. Entrepreneurs ought to be very careful of new workers whose loyalty has yet to be established. In my opinion, the work systems should be transparent to eradicate cheating. It takes time to establish a trust, and they should not be admitted fully till they show they are upright themselves.

[Cheema02]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

To stable and growing a business along with good management internal controls on employees and every thing is very important. There are many example of industries who fail not just the external competitions but their business get flopped due to weak organization and poor management and mis behavior of their employees at internal level. If strong management gives clear directions and regular audits and encouraging their employees efforts in the form of some extra pay then it's gives a positive point to the progress of the industry. Along with authentic management a specific inspection system is also developed to detect frauds and serious losses. So when internal system works well and employees trusted on their owners and owners gives a good payback then industries grows and get long term success.

[ndutndut]

The case of internal or employee fraud has destroyed lots of businesses and in as much as other factors can contribute to it This is one of the main issues and the employer has to be blamed for all that. workers should be employed not based on sentiment or personal relationship, this is what has led to the collapse of a lot of businesses today, People should be employed based on competence and they should be monitored.

Cases like this exist in nearly every business or company. Employee fraud such as theft, financial manipulation, false attendance, and so on often arises because of opportunity not because employees had malicious intent from the start.

So, to prevent this from happening, business owners or managers must be able to prevent it from occurring from the start by establishing clear and strict rules. For example, in creating SOP, segregating duties, not letting one person control everything, and creating a transparent system. What I mean is, prevent it with a good system coupled with rapid detection and decisive action. Because as you said, a business won't collapse just because of competition, but can also be destroyed by internal issues that aren't properly managed from the start.

[JoyceBTC]

When an employee fraud happens, there isn't really anything that makes you keep that person anymore, it's just already happened and no matter how good that person is, you should avoid that person.

If you have the plans to retain an employee after discovering his fraud activities you leave him with no option but to do more than he did,  he's already aware that you are definitely going to sack him one day whatever he's going to be doing is to keep stealing more so they when he's sacked he's going to have something to continue his life. No good employee will want to push you out of business by stealing from you the person is bad you should never accept them back, if you accept a criminal they will always do more after pleading for a second chance.

[letteredhub]

Snip

... so I assumed my assumption was correct and she had been fired.

There shouldn't be tolerance for any employee that attempts to defraud a customer even it's the first time to have exhibited such a behaviour it should be crushed before it spread and get other diligent workers corrupted.
Something about this fraudulent attitude of the pump attendant is that it's not the pump attendant name that gets the disrepute but th companies name and this can scare off other customers when they see this happening they just assume that that's how the entire filling station is operated. The next thing is the company experiencing shortage in patronage.

[Bright0515]

The biggest mistake that an employer can make is not handling the business and over watching everything, if you as an employer don't scrutinize and carefully monitor your employees there are lots of things that would go wrong and you might not figure it out. A lot of people are smart and they are ready to take advantage of every opportunity that they get to do something dubious. Always make Sure that you monitor the work of your staffs consistently.

[Junii]

Yeah i agree with u internal controls plays a vital role in the rise and fall of a company because even if a company has no serious competition in the market yet also weak internal controls causes fraud and poor accountability which can leads to low productivity and then financial losses. For good sales or competition against other companies a good product plus affordable price plus good customer support is all needed the rest depends on the internal controls of the company. If it hires honest employees and properly checks and monitors them the business has a much better chance of growing and if the internal control is weak and there is no check and accountability then a good company may fall.

[Marvelockg]

I think it's clear that we are going to see things be a lot more worse if you keep that person. Because at that moment you are putting the thought "I did a fraud and they still kept me, then I could do it again" and they will. If you keep that person, I guarantee you that they will try to do it again.

When an internal trust is broken, giving such a person a second chance can bring about worse from him but at the same time, sending him away means that you should carry out some level of restructuring such that the information such person has access to does not become the means through which he scams the organization with after he has been dismissed off his duty. when an internal trust is broken, the way to handle such case is above sending the perpetrator of the act away. you have to send them away and still ensure that they don't remain a threat to the business while they are out of the business and this will also involve them signing an undertaken that they will stay clear anything that has to do with the business because further threat will make them the first suspect.

[Emjay24]

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

You didn't mention how to properly prevent fraud, fraud is prevented by a well structured sales and accounting section in the pattern that no fund leaves the Treasury without being properly accounted for automatically from within the system and there exists an efficient feedback loop to ensure funds aren't mismanaged, auditing should be constant to checkmate the excesses of those in the accounting section as well as IT guys should only be allowed access to accounts on close supervision. In a firm that deals with goods, payment collection should be narrowed to only very few persons and cameras should be watching 24/7 to validate that such payments are made through accurate channels only and properly recorded in the stock management software so that descrepancies in available amount and recorded amount would be easy to notice and track.