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The recognised standard

CICM Legal Partner DWF looks at unreported and unrecovered debt

SHOPLIFTING – there’s a term most people are familiar with and it is recognised that major retailers, many of whom we act for, are the victim of this criminal behaviour. What is less recognised is that theft often occurs by those we trust most, those we employ and those we work with. This takes many forms such as expense fraud, stealing cash or goods that you have within your business or defrauding your IT systems. In fact, statistics show when theft is carried out by colleagues, the values are significantly higher than the type of incident we associate with shoplifting, with an average colleague theft accounting for a loss of £1,031 (per British Retail Consortium Crime Survey published 2015). That is before you take into account the cost to your business in respect of the time and resource spent investigating the incident, and the time spent dealing with the HR disciplinary process.

Where DWF is instructed to recover loss resulting from theft, it is often also asked to recover monies owed as the result of an overpayment of salary (overpayments due to late notice changes to payroll, excess holidays taken, non-repayment of loans and non-return of property etc.) as well.

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