Top Ways to Protect Your Organization Against Embezzlement

But, given the right circumstance, it’s possible that anyone could give into temptation and take what isn’t rightfully theirs — including funds from your organization.

While we provide insurance to protect you in the event someone embezzles funds, here are ten steps you can take to prevent that from ever happening:

1. Never take money belonging to the Organization home.
2. Deposit money into the bank daily, even if a project is on-going.
3. Two people should always count the money and sign the receipt verifying the amount.
4. Never sign a blank check or a check made out to “cash.”
5. All bills should be paid by check or card, never cash.
6. Give an officer without check signing authority access to the bank account and have them review and approve monthly bank statements.
7. Conduct an annual audit/financial review of the books.
8. Purchase a Bond Policy and follow the requirements.