S7 E2 Payday Pickpockets
Episode description
Payday Pickpockets
The DooDoo Diva's Smells Like Money Podcast – Payday Pickpockets With John Tonsick
In this episode of the Smells Like Money podcast, we interview John Tonsick, a certified fraud examiner, about the prevalence of fraud in payroll. We discuss how utilities rank among the top five industries with the highest median fraud-based losses. John shares a fascinating story of a payroll fraud case he worked on, involving a payroll manager who embezzled $1.2 million over 15 months. The manager had complete control over the payroll system and manipulated it to transfer money to her personal account. She lived a lavish lifestyle despite her $80,000 salary and was eventually caught when she took $700,000 at once. The company filed a civil suit and won a judgment of $1.9 million. The episode highlights the red flags of payroll fraud and emphasizes the importance of preventive measures and the segregation of duties.
This episode also covers:
All We Need To Know About Payroll Fraud
The Consequences And Legal Actions Taken
Ways To Prevent Payroll Fraud
I hope you find this episode as informative and as exciting as we have.
Please let us know your thoughts about the episode!
Connect with John Tonsick
Website: tonsick.com
LinkedIn: https://www.linkedin.com/in/john-tonsick-cpa-cfe-5720b57/
Email: john@tonsick.com
Connect with Suzan Chin-Taylor, host of The DooDoo Diva's Smells Like Money Podcast:
Website: www.creativeraven.com | https://thetuitgroup.com/
LinkedIn: https://www.linkedin.com/in/creativeraven/
Email: raven@creativeraven.com
Telephone: +1 760-217-8010
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