Misappropriation of Cash by Employees

 

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The most common employee occupational frauds in small businesses are misappropriations of cash. Examples include check tampering, revenue skimming and fraudulent disbursements by fake invoicing, along with payroll schemes, billing scams and more. These frauds are grouped in three general classes:

• Employee Larceny/Embezzlement -- Larceny and embezzlement are cash theft schemes perpetrated after the cash has been recorded in the company's books.
• Employee Skimming -- Stealing unrecorded sales receipts is dubbed skimming, and it can take many forms.
• Phony Disbursements by Employees -- False billing frauds currently represent the largest dollar losses in small businesses. Other renditions are payroll fraud, check tampering, false payees and many, many more.