Stealing From the LIttle Sisters of the Poor?

A sure sign of economic troubles is the increase in thefts across the country.  Recent local headlines about stealing from both for-profit and nonprofits include:

•  A former bookkeeper for the Little Sisters of the Poor in Louisville has been charged with embezzling more than $200,000 from the charity! 
• The former treasurer of the Beechwood Booster Athletic Group was charged with allegedly stealing more than $10,000 from the Group. 
• A University of Louisville employee has been fired as a result of the theft of $96,228 from the U of L Athletic Department.
• A former payroll supervisor for a pipes and tubes manufacturer in Newport was sentenced to two years and nine months in prison for stealing hundreds of thousands of dollars from the company.  She worked as the payroll supervisor and had access to the company's payroll system and payroll bank account.

When the going gets tough, the dishonest get craftier.

Do you have adequate controls in place to make sure your business is not subject to these types of thefts?  Does your insurance policy have adequate protection for employee theft?  Don't put it off. Make sure your business is not in the headlines for the wrong reason.