Theft as Servant Best Practices

"Theft as a Servant" refers to situations where an employee steals from their employer. Here are some best practices to help prevent "theft as servant" situations:

1. Conduct background checks: Conduct pre-employment background checks to identify any criminal history or past incidents of theft.

2. Establish clear policies: Establish clear policies that outline the consequences of theft, as well as the process for reporting suspected theft and conducting investigations.

3. Implement internal controls: Establish and enforce procedures and policies that limit the opportunity for theft to occur, such as separation of duties, dual approvals for transactions, and regular audits.

4. Monitor financial activity: Regularly review financial statements, bank statements, and other financial records for unusual transactions or patterns that could indicate theft.

5. Educate employees: Educate employees on the risks of theft and the importance of ethical behaviour in the workplace.

6. Encourage reporting: Establish an anonymous whistleblower hotline or other reporting mechanism to encourage employees and others to report suspected theft.

7. Respond quickly: If theft is suspected or detected, respond swiftly and decisively to limit the damage and prevent it from occurring again.

8. Engage outside experts: Consider engaging external auditors or forensic accountants to assist with detecting and preventing theft.