Employee Theft…..Skimming and Larceny – Atlanta Georgia

Money is the top target of employee theft schemes.  There are two cash theft schemes that employers need to understand, skimming and larceny.

Larceny and Skimming…sounds like two cartoon characters doesn’t it?  Unfortunately these two employee theft acts have much more devastating consequences for small businesses.

“Skimming” is considered an OFF BOOK fraud.  This means that the theft is conducted prior to the cash hitting the accounting ledgers of the business.  Because the money is taken before it is recorded, the employee theft cannot be traced through a direct audit trail.  That makes catching the culprit a little more difficult.   This affects persons of employ such as tellers, wait staff or anyone who handles cash transactions directly from customers.

“Larceny” is the taking of monies after it has been recorded.  One example of this is reversing transactions on a cash register. Employee theft may be committed by the person running the register by returning fictitious merchandise or voiding transactions.  This allows for the cash transactions in the register to appear lower than they are supposed to be.

Employees can also steal cash from the daily deposit.  This is a very common type of larceny.  Small business owners especially should be aware that if they allow employees access to bank deposits, the threat is very real that some of the cash from that day will not make it into the bank.

Worried about employee theft ?  Call us for advice at 1.770.426.0547 or contact us at employee theft – Atlanta Georgia