Non-Cash Asset Misappropriation by Employees

 

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Although cash is the preferred target for employee theft, supplies, inventory and all sorts of equipment are tempting as well. These frauds range from a box of paper clips to the unauthorized use (or outright theft) of expensive furniture and/or equipment.

• Unauthorized Use of Equipment -- The company truck would sure make it easier and cheaper to move my mother-in-law this weekend. I don't think anyone would mind, do you? I'm a good driver so no damage will come to it. No, I'm not on the company vehicle insurance and mine lapsed last month, but I'll be real careful. (Hmmm! How much does a negligent homicide cost these days????)
• Inventory Shrinkage -- Remember the old joke about the guy who pushed an empty wheelbarrow out of the factory every day for a month. Then he was fired. The security guard was called on the carpet for letting inventory theft happen. He said he checked each time the miscreant punched out and saw nothing whatsoever being sneaked out of the plant in the wheelbarrow. "What was he stealing?" the baffled guard asked. "Wheelbarrows, you dummy!"
• Fake Sales and/or Purchases -- Those same wheelbarrows could be "sold" to a fake customer landscaping company with a phony purchase order and invoice, and shipped right out of the warehouse to a storage facility the fraudster employee rented to receive them.