Does Stealing Hurt The Employees?

What percentage of employees steal?

75%Recent stats suggest that about 75% of all employees have stolen from their employers at least once during their time within their company.

That makes about three-quarters of all employed workers, with 37.5% of them stealing at least twice..

How hard is it to prove embezzlement?

It is easy to accuse an employee of embezzlement, but proving all four elements of the crime can be much more difficult. … Plaintiffs can pursue embezzlement through civil court as well as criminal court. An employer can sue an employee to get restitution, but the state can also prosecute the case.

What evidence is needed for embezzlement?

The defendant acquired the money or property at issue via his or her fiduciary relationship with the victim. The defendant took ownership of the property that was transferred and/or stolen. This is referred to as conveyance. The defendant intentionally took the property at issue.

Does embezzlement have to be reported?

Reporting embezzlement to the IRS is required for both nonprofit organizations and for-profit corporations. The amount of money embezzled is considered taxable income of the employee. … Report the embezzled funds as a loss on your company’s own tax returns.

How does employee theft affect other employees?

Management and employees often become tense and distrustful of one another. Work production might slow as employees fretting over the incident find it difficult to concentrate on the tasks before them. Employees often react to theft by mistrusting the company, which creates a dissatisfied feeling in the workplace.

What are the effects of stealing?

Legal consequences for theft usually include:Criminal fines, which are usually proportionate to the amount stolen; higher theft amounts may result in greater fines.Jail or prison sentences, which may increase or decrease in severity according to the amount stolen.Restitution for some theft cases.More items…•

What should I do if I get caught stealing from work?

Damage controlConsult an attorney. Before you sign anything, you should seek legal advice. … Review your employee handbook. … Talk to your manager. … Admit to theft. … Gross misconduct. … Termination. … Criminal charges. … Apologise.More items…•

What is the average sentence for embezzlement?

If the value exceeds $5,000: 2 years imprisonment and/or 100 penalty units ($11,000 fine) If the value does not exceed $5,000: 2 years imprisonment and/or 50 penalty units (5.500 fine) If the value does not exceed $2,000: 2 years imprisonment and/or 20 penalty units (2,200 fine).

How common is employee theft?

95% of all businesses have experienced employee theft. 3 out of 4 employees admit to stealing from their employers at least once. Nearly 40% (37.5%) of employees have stolen from their employer. 3 out of 10 employee theft cases lasted for more than five years.

How do you control employee theft?

Here are some things you can do:Know your employees. Be alert to key indicators of potential theft such as: … Supervise employees closely. … Use purchase orders. … Control cash receipts. … Use informal audits. … Install computer security measures. … Track your business checks. … Manage inventory and use security systems.More items…•

What are the potential consequences of employee theft?

Review Questions 1. What are the potential consequences of employee theft? Consequences of employee theft could lead to loss of your job, face criminal charges and the restaurant could lose money.

What happens when you steal from your job?

If your employer decides to press charges against you then you can be charged with theft or larceny. These are serious charges and, among other things, will become a matter of public record. You’ll face steep fines, legal fees and even possibly jail time if the crime was large enough to warrant that sentence.