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When Office Admin and Bookkeepers are Charged with Embezzlement

Jean Zick, Partner at Juna Financial explains how business owners are defrauded by their own employees. In one situation a business owner was a victim to two different book keepers that embezzled a lot of funds. Jean explains the controls that a business owner should have to avoid fraud.

Many times admins are given the power to keep the records, write checks, and to audit the finances. Lack of interior controls and failure of having multi-person authentication and checks can lead to catastrophic monetary loss.

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