Think it’s not? Think again because small businesses – those with less than ten employees – are ten times more likely to experience embezzlement than larger corporations. Embezzlement is running rampant in the U.S. It is estimated that one out of every three U.S. businesses have been victimized, are currently being victimized, or will be victimized by this type of crime.
Our featured guest in this Episode of The Small Business Trends Radio is Barry Webne. Barry is a respected authority on the detection and prevention of occupational fraud and white-collar crime.
What makes Barry an expert? He was convicted of bank fraud for embezzling more than $1 million dollars. And he says it’s easy to detect and prevent this crime – with tips from an expert.
- The typical embezzlement scheme? — This usually takes place within an accountant or controller position and lasts approximately 18 months. The average embezzlement scheme usually nets the embezzler about $150,000 and, typically, many feel that they’ll never get caught. And the truth is – many are caught by accident. Either by taking a day off or simply being careless.
- Who is the embezzler? — Surprisingly, it’s your ideal employee. The one who is always on time, churns out perfect work and is a whiz of a multitasker – this is the profile of a typical embezzler. Most feel overworked, underpaid and overwhelmed and many are suffering monetary pressures within their personal life. Sound like any of your employees?
Barry shares his personal insights on the psychological traits, behaviors and tendencies of an occupational criminal and believes that no company or organization – large or small, profit or non-profit – is safe.
Think it can’t happen to you? Think again and educate yourself on what to look for by clicking the red and yellow player below and listen to Barry’s full interview for tips on how to spot this crime or avoid it altogether.
IMPORTANT UPDATE: After this radio show was recorded we learned that Barry Webne, the guest, was brought up on a new set of charges involving embezzlement. Charges are pending in Federal Court in Toledo, Ohio as of February 2008.