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Taking steps to identify possible employee fraud

On Behalf of | Aug 17, 2021 | Comprehensive Business Law

Most businesses in New York and elsewhere have employees to help with everyday operations, including company finances.  Such roles may come with increased levels of access. If an employee uses their position to seek personal gain through fraudulent behavior, the financial well-being of the company could suffer severely. Knowing how to identify the possible presence of employee fraud could prove essential to addressing such concerns and safeguarding the future of a business.

Identifying concerns

Since fraudulent behavior could wreak havoc on company finances, identifying and addressing such concerns swiftly is essential. One potential sign of such behavior could involve the presence of inconsistencies in company financial records. These signs could range anywhere from an unexplainable withdrawal of funds to sudden increases in company spending, and investigating such discrepancies could help shine a light on unlawful behavior.

It is good to take note of  employees who appear to be exhibiting secretive behavior. Employees who take part in fraudulent activity may be more inclined to try to hide their actions and keep others from reviewing their work. In some cases, it might not be uncommon for companies to receive tips about such behavior from others, and investigating each tip thoroughly could also prove imperative.

What next?

Business owners who feel that an employee is culpable of fraudulent behavior may wish to take action to protect their interests, but they might not know how best to approach the process. When facing similar concerns, a person in New York could benefit from speaking with an attorney for advice on all his or her available options. An attorney can work with a client in evaluating the situation and developing a strategy to safeguard the company’s legal rights through the proper channels and provide insight on how to protect against similar concerns in the future.


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