L Squared Insurance Agency Blog: employee theft
View the latest blog posts from L Squared Insurance Agency.
Tuesday, November 27, 2018Are You Covered for Employee Theft? Law Firms, Accounting Firms, Title Agencies and other small organizations spend a large amount of resources to combat the theft of funds from cyber criminals and other con artists. These outside thefts are well publicized by the media. READ MORE >>
Wednesday, August 29, 2018Many Law Firms carry large balances in Escrow Trust and IOLTA accounts. What would happen if those funds disappear? Law firms may rely on a “trusted” employee to manage the funds, balance the accounts, deposit funds and write checks. Unfortunately this “trusted” employee is a leading cause of loss. READ MORE >>
Monday, February 19, 2018As a former auditor, it always amazes me why people would risk so much for so little. But they do and you read about these thefts all the time. The pressure is always on to outdo ones neighbor and provide the ‘good life’ to themselves, a spouse and/or kids comes into play with the need for some easy money. READ MORE >>
Monday, October 30, 2017From a Law Firm Trust/IOLTA accounts, to business checking accounts, and to fraudulent payments to vendors an embezzler is every business nightmare. Nothing can destroy a business quicker that having an embezzler working for you. A recent article from Property Casualty 360 discusses the 5 warning signs on an embezzler: READ MORE >>
Tuesday, August 30, 2016Whether it is office supplies, time theft, privileged information or money, employee theft can create a significant cost for firms. According to the U.S. Chamber of Commerce approximately 75% of all employees steal from work in some way, and about 30% of all corporate bankruptcies are a direct result of employee theft. READ MORE >>
Monday, August 22, 2016In a recent blog referenced a study by Hiscox Insurance about employee embezzlement with small companies. The following link references the study previously mentioned: http://www.hiscox.com/shared-documents/14537-US-2016-Hiscox-Embezzlement-Study.pdf READ MORE >>
Wednesday, August 17, 2016Many Law Firms and other small organizations are concerned about outside threats of theft. The outside thefts are well publicized by the media. But there is a dirty little secret that small entities ignore. People are surprised to learn the number one cause of theft for most small organizations is their own employees. READ MORE >>
Tuesday, July 5, 2016Depending on the type of practice an attorney has, the Law Firm could be carrying large balances in Escrow and IOLA accounts. With smaller law firms, the firm may be relying on a “trusted” employee to manage the funds, balance the accounts, deposit funds and write checks. READ MORE >>
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