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"Dethroned" and "Black Mischief" scream the latest headlines recounting Lord Conrad Black's alleged diversion of more than $80 million from Hollinger International, the media company he presided over for many years. Although most of the recent high-profile white collar criminal cases involve sophisticated earnings manipulations, the Hollinger scandal reveals a far less glamorous age-old form of fraud that remains as widespread as ever: Employee embezzlement. "Employee fraud can no longer merely be considered a minor annoyance or the cost of doing business," says Hope R. Metcalf, an attorney in the White-Collar Defense, Investigations & Corporate Compliance Practice Group at Wiggin & Dana LLP (New Haven, Conn.). "All employee fraud — even for relatively small dollar amounts and minor infractions — creates significant business and legal risks and corrodes firm culture. Prevention and early detection is particularly crucial for public companies in light of the Sarbanes-Oxley Act's reporting and compliance controls requirements." Metcalf is available to write an article outlining how to prevent and detect employee wrongdoing at any level. It will dissect the most common types of embezzlement and describe steps companies can take to prevent, detect, and respond to this type of employee misbehavior.
Channel: Jaffe Legal News Service - Articles for Publication
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