Resources
FAQs
1. What is the "Fraud Triangle"?
The term "Fraud Triangle" was coined in the 1950s by Donald Cressey. Cressey was one of the nation’s leading experts on the sociology of crime. Cressey stated all frauds need three elements to take place: opportunity, pressure and rationalization. Business owners can limit opportunity to some extent but pressure and rationalization are not easily contained.
- Have bank statements sent to either the business owner’s home or to a P.O. Box which can only be opened by the business owner.
- Use Positive Pay for small businesses (contact your local banker regarding this service). Another banking service that is becoming more available is scanning checks from your office to your bank for direct deposit. This limits your employees' ability to deposit your check into their own account via ATMs. The iPhone even has an app for this!
- Institute mandatory vacations. If your employees are not taking vacation, is it because they don’t want to get caught when another employee does their job? Most embezzlement suspects are described as “hardworking, conscientious and always there to help others out”.
Submit your question via the Contact page.
The resources listed below are not a substitute for professional advice. Please do not hesitate to contact Kelly with other useful websites or information.