Law360, New York (August 1, 2016, 5:09 PM EDT) -- When we hear the terms "embezzlement" or "white collar crime," we often think of large corporations and financial institutions. The truth is, the majority of employee theft occurs at small and mid-sized companies — but that’s not to say the cost is small.
In fact, 69 percent of all federal embezzlement cases that were active in 2015 occurred in companies with fewer than 500 employees. Of those cases, the median loss was $294,354, according to the 2016 Hiscox Embezzlement Study. An astounding 20 percent of these losses involved $1 million or more.
Who’s Getting Caught Red Handed?
The average white collar...
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