Cash is king for light-fingered workers
Almost two-thirds of small businesses have been victims of employee theft, and 40% of the time, the employee took money, according to University of Cincinnati criminal justice researcher Jay Kennedy. He said the cash thefts reported in a recent study ranged from $5 to $2 million. The average take was $20,000.
Most of the money thefts were part of embezzlement schemes that lasted an average of 16 months before the employee was caught. Only 2% of thefts involved retail salespeople raiding the cash register.