Employee Theft and Civil Recovery in Criminal Proceedings

Businesses often entrust employees with access to bank accounts and payment systems. That trust can create risk.

The issue

An accountant or bookkeeper may misuse payment access by making payments to themselves under the appearance of payments to creditors.

Possible recovery steps

The first step is often to check whether the organisation has commercial crime insurance or fidelity guarantee cover. These policies may respond to employee theft, depending on the wording and facts.

The business may also consider criminal proceedings and civil recovery steps to recover the stolen funds.

Practical point

Evidence is critical. Bank records, payment instructions, internal approvals and access logs should be preserved as soon as suspected theft is discovered.