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Beware of Fraud

From time-to-time we hear stories of fraud occurring in breweries, such as the woman accused of embezzling from a Montana brewery last year. It’s important to remember fraud can happen to anyone, and you need to take steps to protect yourself and your brewery.

One of the best things you can do is implement a system of checks and balances. Don’t let one person be in charge of all of the money! Rotate duties if possible. It’s also a good idea to know what behavioral red flags to be on the look out for. According to the ACFE 2012 Report to the Nations the top behavioral red flags to be on the lookout for, include:

  • Living beyond one’s means

  • Having financial difficulties

  • Unusually close association with vendors or customers

  • Control issues or an unwillingness to share duties

  • Divorce or family problems

To learn more about preventing fraud in your brewery, contact Kit Powell, Certified Fraud Examiner.

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