There are many causes for embezzlement in organizations today, and financial pressure is certainly one. When employees have debts to pay and financial controls at their companies are weak, they may be tempted to rectify their situations by misappropriating funds. For this reason, it’s important to make sure that hid the crime by altering the books to show the checks were paid to legitimate vendors. Seibert quit when the restaurant informed her that they were performing an audit.
The news provider pointed out that Seibert told the company she stole the money to make payments to another employer who had sued her for embezzlement. The San Diego Reader explained that Breach Security accused the bookkeeper of misappropriation in 2008, and she had agreed to pay the business $450,000 plus interest as part of a “stipulated judgment.”
Tighter financial controls, including the use of accounts payable audits, should be used as part of any plan to reduce the likelihood that employees will mishandle funds.