Tag Archives: embezzlement

Ask the Experts: Fraud and Embezzlement

Approximately 76% of districts that purchase Crime coverage only buy the minimum. While $5,000 may seem sufficient, you don’t need a lot of imagination to think of a scenario in which you’d find yourself grossly underinsured.

Posted in Coverage | Also tagged , Comments Off on Ask the Experts: Fraud and Embezzlement

Embezzlement Costs Special Districts Millions

The U. S. Department of Commerce has released figures indicating that employee theft costs U.S. businesses over $40 billion per year, playing a significant role in 95 percent of business failures and nearly a third of all business bankruptcies. Special districts, like most other governmental and business entities, are always vulnerable to internal threats that can come from employees, including managers and even board members. Yet, many organizations still believe it couldn’t possibly happen to them.

Posted in Coverage, Loss Prevention | Also tagged , , , Comments Off on Embezzlement Costs Special Districts Millions

Trust, But Verify: Protecting Your District from Embezzlement

Recently, two well-publicized cases of employee embezzlement and dishonesty of public workers in Colorado have put the spotlight on special districts. In one instance, an employee was implicated in the embezzlement of over a million dollars, and in another, a former fire chief was charged with the theft of over half a million dollars in Read More

Posted in Coverage, Loss Prevention, Training | Also tagged , , , , Comments Off on Trust, But Verify: Protecting Your District from Embezzlement