1111 S.W. 2nd Avenue, Portland, OR 97204
What is embezzlement?
It is generally described as the intentional misuse or misappropriation of funds or property entrusted to an employee. In most cases an employee steals money or property from their employer.
If I’ve discovered an embezzlement, who should I call?
Call the police non-emergency number (503) 823-3333 in Portland) to report the theft. You should report the crime in the jurisdiction of occurrence. Have spreadsheets, copies of checks (front and back) and other financial documents ready for the officer who is taking the report. Be sure to request the officer come to your business location to take the report, do not report embezzlements over the phone.
Will the police investigation serve to discover all of the financial losses?
Police will investigate the crime, but we are not certified public accountants (CPA’s). You may require the services of a forensic accountant. You should contact an accountant or you may wish to obtain a referral from the Association of Certified Fraud Examiners at
http://www.acfe.com/home.asp . You may have to initiate civil action against the suspect to obtain a monetary judgment.
Where can I get help for properly setting up or improving my business procedures?
You may wish to contact a qualified business consultant, or a Certified Public Accountant. You can get additional information on business from the Better Business Bureau, Http://www/bbb/org or Http://www.oregon.gov whichserves Oregon businesses, or the Service Corps of Retired Executives, at their web site, http://www.scorepdx.org/brc.htm . There are other providers of information and services available.
The following information is a starting place for basic prevention. While this is not a forum to address all the potential areas prone to embezzlement, we hope the material will bring the topic to prominent attention.
Require financial oversight
Detection of Fraud