An embezzlement is an illegal act that occurs when someone steals money from another person or business. It differs from theft in that it usually involves a breach of trust.
It often happens in small businesses that have a close relationship with employees. However, it can happen to larger companies as well. Here is how an attorney can help. Contact Leppard Law today for expert advice and representation. Our team of skilled attorneys is here to help you through any legal situation.
Employee Theft
When you’re a business owner, the last thing you want is for one of your employees to steal from your company. It’s a devastating experience for any business to discover that someone is doing something illegal or unethical.
Fortunately, there are many ways to protect your business from employee theft, and an experienced attorney can help. These legal remedies include criminal investigation, wrongful termination, and civil litigation.
One way to keep confidential information safe is through non-disclosure agreements (NDAs). These documents are a common form of protection for businesses, and courts have often held them valid.
NDAs allow businesses to limit the types of information an employee can reveal and how long they are required to maintain that information. These documents must be drafted by an attorney experienced in business litigation.
A skilled attorney from https://jamesonlaw.com.au/criminal-law/ can also help you protect your company’s trade secrets and other intellectual property. It is critical to your business’s success and can be challenging to accomplish on your own, but with the assistance of an attorney, it can be done.
An experienced attorney can also advise you on handling employee theft, including whether you should investigate the case or simply give the employee a written warning. While this may seem like the most logical course of action, it’s essential to consider the impact on the rest of your business and how a simple written warning or probationary period will affect other employees.
Then, when the investigation is over, a skilled attorney can assist with filing a lawsuit to recover damages for the loss. Depending on the circumstances, the court could award compensation for lost profits, lost time and wages, emotional distress, and other costs associated with the theft.
Fraudulent Expense Reports
There are many ways that employees can use company funds for personal purposes without authorization, and reimbursement fraud is one of the most prevalent forms. While it might seem like a small-scale theft, the losses can add up quickly and devastate a business.
While most employee expense fraud results from human error, some employees are intentionally trying to defraud their employer. If you suspect this may be the case, consulting with an experienced attorney is best.
Fraudulent expense reports can be costly for any business and can easily be recognized by internal staff. To catch this form of employee theft, it’s essential to establish a robust review process and take steps to ensure that only legitimate expenses are reimbursed.
Another effective way to detect fraud is to use a forensic accountant to analyze expense submissions. These professionals can spot mischaracterized expenses, overstated expenses, and fictitious expense claims.
A forensic audit can also uncover cases of double reporting by employees, which can be a sign that they’re trying to get around your system. A strong, reliable audit procedure is your last defence against fraudulent expense reports and can significantly benefit your business.
Fraudulent Payments
Fraudulent payments are a significant cause of business losses and many different types of fraudulent transactions. Some of the most common include credit card and identity theft.
Another common form of payment fraud involves account takeovers. It involves a fraudulent individual accessing an existing customer’s billing information to make purchases or use reward points. It can be done by email, text or over the phone.
It can even happen on an online store or website where customers enter their credit card numbers. This fraud is a form of identity theft and can be challenging to detect, especially if the customer hasn’t paid attention.
Refund fraud is also a common occurrence. In this type of scam, fraudsters request partial refunds from merchants. They may claim they made a mistake when entering the card details, but they want to avoid paying the full amount. It can be particularly dangerous to a non-profit organization or a donation-based business that depends on donations.
The criminal may then send the money to a different address or address where they know it won’t be traced back. It can lead to unexpected withdrawals from the victim’s bank accounts, and it can also mean a loss of trust between the victim and the merchant.
Embezzlement is the crime of stealing or taking property belonging to someone else that has been entrusted to you. It is a serious offence that can be punishable with fines and jail time.
If you think you’ve been the victim of this fraud, contact a skilled tax lawyer immediately to discuss your options. A Lawyer can help you gather evidence and present a compelling argument for your case.
