MANAGEMENT

Detailed explanation-1: -Monetary theft In businesses that deal with a lot of cash, like those within the retail industry, monetary theft is the most common type of employee theft. Examples of how this can occur include: Overcharging and pocketing the difference.

Detailed explanation-2: -Employee theft is defined as any stealing, use or misuse of an employer’s assets without permission. The term employer’s assets are important because it implies that employee theft involves more than just cash. In many industries, there are much more important things than cash that employees can steal from a company.

Detailed explanation-3: -Employee theft is a major risk of crime that deteriorates the operations of many businesses. While many people may think that most theft losses come from non-employees, 90% of all significant theft losses come from employees (Willis North America).

Detailed explanation-4: -Employees may steal large amounts of money, workplace supplies, equipment or intellectual-property. Just as serious are employees who steal by completing inaccurate timesheets, claiming reimbursement for items not purchased, fraudulently transferring funds or misusing a corporate credit card, cheques or taxi vouchers.