Ridout Barron

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Business fraud could take many forms, which could all be related

Business fraud often involves employees who are abusing their position within a company for their own gain. Common examples include theft, embezzlement, altering documents, appropriating company assets, and the like. A lot of times, these things are all related, and multiple types of fraud could be involved in the same case.

For example, employees who are embezzling money often want to cover their tracks. They may have figured out how to take the money without getting caught -- skimming some off of the top when making a bank delivery, for instance -- but they don't want to leave a clear paper trail that leads back to them. For this reason, these employees may alter financial documents to hide the loss of funds. This is why theft can often go on for months or years before it is discovered.

Additionally, some types of fraud can gradually turn into other types. For example, employees could start appropriating company assets for their own use. In the construction industry, this could mean taking power tools home to use on personal projects. At first, employees may rationalize this as simply "borrowing" tools when they're not at work. When they start keeping them indefinitely, though, it has turned into theft that can seriously harm the company. Employees may not set out with the goal of stealing, but that doesn't mean they won't end up there.

When any type of fraud happens in Alberta, it's important for company owners to protect their businesses and their assets. If you want to learn more about how you can do that, we urge you to get in touch with us as soon as you can.

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Ridout Barron
1827 14th Street SW
Calgary, AB T2T 3T1

Phone: 587-315-8454
Fax: 403-271-8016
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