Embezzlement

(preview from the book)

When I present this information in person, I ask those who are business owners or managers to raise their hands.  Then, I quickly count how many hands are raised and I ask them to raise their hands again if they “are being embezzled today, right now, at this very moment?”

In larger groups, there is always at least one hand raised.  When the rest of the group notices, there is often a quiet rumbling of sympathetic comments.  Before the noise dies down, I offer a surprising statistic.  “Research done by the American Institute of Banking suggests that on any given day, one business in four is being embezzled!”  After doing a quick calculation, I tell my audience, “That means in this group there are probably x number of you who are being embezzled.”  Then, pointing to the one (or more) who raised their hands, I add, “They are the only ones who know!”

It is a shock to most business owners to learn how many businesses are embezzled.  Experts with experience in this area think the rate may be even higher than one in four.  Because many are never detected, there is just no way to know exactly what the real number is...

Copyright © 2005 by Arnold S. Grundvig, Jr. 

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