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Financial Executives Institute

   Financial Executive

March 1, 2000

STICKY FINGERS 

    Employees not only steal, they out-steal shoplifters. So say studies from Michael G. Kessler & Associates, an international investigative and forensic accounting firm. 

 The collective price tag, which includes falsifying expense reports and time sheets, pilfering office supplies and taking inventory, is over $120 billion annually. Motivation includes greed (49 percent), vindictiveness (43 percent) and need (8 percent). 

    Furthermore, 92 percent of employees say they'd lie on a job application that asked whether they stole from a previous employer. Sixty-eight percent say they'd never disclose that they were discharged from a previous job due to theft. And 66 percent say they'd steal if they saw others doing so without consequence -- so provide a strict written theft policy and follow through on it.