Embezzlement is a painful and emotional setback, which can have long-term negative effects on a company’s financial position.

In this episode of the Prime Resources Podcast, BDR financial coach and trainer Kasey Stanley explains how embezzlement can occur within a business and how to prevent it. Kasey outlines best practices you can follow to safeguard your business along with helpful insights on what important steps to take if you experience embezzlement.

(02:46) – What is embezzlement?

(03:22) – Circumstances embezzlement can occur

(04:56) – Ways to prevent embezzlement

(07:23) – Example of embezzlement situations

(08:53) – What owners can do to help detect embezzlement early

(16:16) – Separation of duties for different companies and accounting team sizes

(19:28) – What to do if embezzlement occurs

(23:30) – Final thoughts