Embezzlement

Overview/Description
 What is one of the most common types of fraud impacting financial institutions? Embezzlement. This course will address why embezzlement is such a big problem and what the consequences of embezzlement are. Viable strategies for reducing the risk of embezzlement at financial institutions will also be presented.

Target Audience
 Bank employees responsible for internal process controls and employees who work with business clients

Expected Duration
2.5 hours

Lesson Objectives:

What is Embezzlement?

  • identify the importance of knowing what embezzlement is and how it occurs.
  • identify the characteristics that define embezzlement.
  • identify the ways in which embezzlement occurs.
  • identify methods to discover embezzlement.
  • identify characteristics of a person who is likely to commit embezzlement.
  • recognize the warning signs of possible embezzlement.

    • When Embezzlement Happens

  • recognize the importance of understanding the negative results of embezzlement and how to respond when it happens.
  • identify who is directly impacted by embezzlement.
  • match the correct embezzlement responses to their corresponding definitions.
  • identify the best course of action to take when embezzlement is discovered.
  • identify the characteristics of trust.

    • Safeguards

  • select reasons that safeguards are important.
  • match the actions that can lead to becoming an accomplice to embezzlement to their corresponding definitions.
  • identify methods for screening employees.
  • identify three strategies for investigating employees while protecting their rights.
  • identify safeguards for controlling the opportunities for embezzlement.
  • use appropriate strategies to explain the need for safeguards to personnel.

    • Course Number: FS0404