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Embezzlement, Hackers, and Scams

Tuesday, June 11, 2013

People steal money. It’s just plain fact these days. Trust your employees, but verify. Ensure proper internal controls are setup so that you are not the next victim.

Working with movers all across the country, no one and no region is immune.  In the past four to five years, since the economy turned, we’ve seen a drastic increase in employee embezzlement and internet/email scams.

3 Real Life Examples:

  • Bookkeeper used real and fake vendor names to wire money into his own personal account –the Total amount stolen was $500,000+
  • Disgruntled employee with company credit card – Charged $25,000+ in personal expenses
  • Hacker got into owner’s email and installed a key stroke tracking program, which led to a series of unauthorized wire transfers  – Total amount of money involved in the wire transfers was $70,000



  • Internal Controls – Talk to your accountant about your internal controls,
    it’s not enough these days to hire “trusted” employees, checks and balances need to be present.
  • Avoid Scams – Keep an eye out for scam emails and do not click on anything unless you know and trust where it came from.  Consult with your IT person to setup additional controls and educate employees on what to look out for.
  • Insurance – Make sure you’ve got the right insurance coverage.  All 3 of the examples above could be covered under 3 separate types of coverage that doesn’t cost much to cover.  This coverage is not usually built in (or at least not at an adequate limit).


Material posted on this website is for informational purposes only and does not constitute a legal opinion or medical advice. Contact your legal representative or medical professional for information specific to your legal or medical needs.

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