Handling embezzlement in the workplace

December 26, 2018

When embezzlement hits, many companies are taken by surprise.

Conducting a calculated and methodical investigation can be key in recovering lost funds. And with the average loss ringing up at $357,650, according to Hiscox, it’s critical for firms to have plans in place to deal with a theft.

Create a team early on of parties that will be involved in the investigation, bringing in outside experts such as legal counsel, a forensic accountant and private investigator if necessary, says Domenique Camacho Moran, a law partner who heads the employment group at Farrell Fritz in Uniondale.

“You want to make sure the data is preserved,” she says.

Also don’t rush to accuse someone without being able to back it up, she says.

Often the first thing the owner wants to do is confront the suspect, she says, but that could compromise the investigation.

You need to gather facts, talk to witnesses, she says.

  • Related Practice Areas: Labor & Employment
  • Featured Attorneys: Domenique Camacho Moran
  • Publications: Newsday