- 1 Embezzlement maximum punishment charges:
- 2 Different ways to commit the crime of embezzlement:
- 3 Embezzlement of funds in the company explained to all:
- 4 Embezzlement is a very common problem in companies:
- 5 Good practices in the company:
- 6 Good practices in the company against embezzlement/misappropriation:
Discover how to get out of embezzlement charges and maximum punishment embezzlement:
The embezzlement punishment is minimum/start from 25000$. Its depend on the embezzlement/felony type. If embezzlement is severe then embezzlement charges are high and vice versa.
Embezzlement maximum punishment charges:
It is the only one of the three offenses that include prison sentences, specifically from two to six years, as well as a disqualification from six to ten years.
However, if it causes “serious damage or obstruction to public service” the penalty could reach eight years in prison and eight years and disqualification. Read also: is embezzlement a felony or misdemeanor
Different ways to commit the crime of embezzlement:
- When they are responsible for any concept of funds, income or effects of Public Administrations.
- When legally designated as depositories of public funds or effects.
- When they are the administrators or depositories of money or property seized, kidnapped or deposited by the public authority, even if they belong to individuals.
Embezzlement of funds in the company explained to all:
So, we will dedicate our article portion to talk about embezzlement in the company. We will try to understand this crime of an economic nature based on its simplest definition. The misappropriation of funds consists in keeping a money that is not yours and that has been entrusted to you.
For example, if an official steals money from public coffers or a bank employee, money is left in the cash. In both cases they are in charge of that money, they have to manage it sensibly. But that money is from the taxpayer or the client respectively.
Embezzlement can be understood as spending money on inappropriate concepts. For example, expenses unrelated to the activity of the company, expenses that are not related to the corporate purpose of the company; and a long etcetera. Read also: is embezzlement a felony or misdemeanor in NC
Embezzlement is a very common problem in companies:
The misappropriation of funds is the most common fraud in companies, as revealed by a study by PricewaterhouseCoopers. From a survey conducted among more than 1,200 large companies in 50 countries. It was found that, because of business fraud, on average, they lost 2.2 million dollars a year each. Apart from this average value, many declared costs higher than 10 million and 400 could not quantify the losses as the business fraud.
Good practices in the company:
Starting from an idea of integrity is essential in the company. The tone is marked by the address. If the visible head is intact, it will motivate that behavior in the lower layers. Not necessarily an exemplary boss enjoys exemplary employees, but what is almost certain is that a remiss boss will cascade his style towards the lower substrates of the company. -If he does this, why not do it?
The company must have in writing a Code of Ethics or Conduct. Yes, in writing. That there is a place where “what can not be done” is collected. We will be giving an endorsement that has been said, with written evidence. We express our vocation to be compliant with the good duty of our activity.
Good practices in the company against embezzlement/misappropriation:
A strong anti-corruption control is typical of the companies that work with us in the compliance line. We study in the day to day of the company in which the person can relate with public officials and we establish in what form it should be done, a protocol.
We elaborate an effective policy so that crime situations do not occur in those cases in which we can anticipate them. It is about putting obstacles and difficulties to those who want to ignore the law and, in the process, embarrass the firm. Read also: Is embezzlement a felony in California
Design policies for the delivery and receipt of gifts travel, monitoring of accounting records … More or less there is evidence of where problems may arise. That does not allow extinguishing 100% but a lot of it.
Impose an internal channel of reports where people who interact with the company can give notice of inappropriate behavior; to influence the importance of documenting processes to maintain a strong control; perform internal audits; monitor the processes; assign roles and privileges to each position clearly and with defined boundaries;
The philosophy of compliance seeks to mitigate the commission of crimes in the company and when not when in spite of it being committed, guarantees that the company did everything in its power, took all possible measures to avoid it.