Georgia Tech has fired an employee who rang up $25,000 in personal charges on a state purchasing card and failed to repay it. The disturbing part is that Georgia Tech was unaware of the abuse until state auditors notified them.
The state auditors uncovered the fraud during a sweeping investigation into purchase-card use by Georgia Tech employees, conducted in cooperation with the state attorney general’s office and the Georgia Bureau of Investigation.
Thousands of state employees use the cards, which carry credit limits of up to $350,000.
The university is reviewing its purchase-card policies and is seeking reimbursement from the employee, who has not yet been charged with a crime.
Advice: Protect your company by auditing the accounts of all employees with purchasing power.