Committing employee theft is a business fraud that can result in heavy penalties. Being accused of this white-collar crime can significantly affect your career. Thus, it will be best to be informed to avoid actions that may lead to such a charge.
The following are four types of employee theft:
Cash theft is the most common employee theft, and it mainly occurs in retail establishments. For example, when an employee sells a product but doesn’t record the transaction (skimming) or charges a high price to pocket the extra amount. Cash theft also occurs when one takes cash from the safe, register or petty cash drawers. Some employees do this with the intent of returning the money later, but it’s unlawful and should be avoided.
Inventory theft occurs when an employee steals products from the office for personal use or to sell. For example, when one steals cleaning supplies to take home or equipment to sell to another business. Most businesses have measures to keep equipment safe and pay employees reliable wages to prevent this theft type, but it still happens.
Theft of services
Providing unauthorized discounts or free services constitutes a theft of services. Most employees commit this employee theft for their family and friends.
Examples of time theft include changing timekeeping records to be paid for hours not worked, extending lunch and breaks, working during unapproved overtime, unauthorized clocking in and out, mobile phone usage, using the internet for non-work activities and excessive socializing. Some of these mistakes can be solved with a warning or termination of employment, but others can get an employee into legal trouble.
Misunderstandings at work can lead to a theft accusation. If you are charged with any employee theft crime, you need the right experience and knowledge to defend yourself.