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Reasons why embezzlement happens

When people hear about someone embezzling, they often have a picture in mind of what type of person the embezzler is. Likely they assume, he is a white, middle-aged male holding a prominent leadership position at the company. While this is certainly a common demographic, it is not the only one.

2017 study by the insurance company Hiscox reveals interesting trends among embezzlers. For example, small businesses, not large corporations, are the victims 68 percent of the time and the culprit in these cases is usually female. The reasons for the varied demographics among embezzlers may be attributable to the many reasons for engaging in the act.

Ego

Some people choose to take company assets simply because they can. They may not think that it is a big deal and may even enjoy the thrill of getting away with it. Others may believe that they deserve the money because of who they are and what they have done for the company. In fact, according to Hiscox, common traits among embezzlers are intelligence, dedication and ambition.

Revenge

On a related note, some workers may take a hit to their pride from some form of injustice by their employers. These employees may not have received a promotion, pay raise or any recognition at all. Another scenario may be the business owner is a truly unlikeable person or significantly richer than everyone else in the community. In order to regain a balance on their personal scales of justice, employees may justify embezzlement.

Desperation

Not everyone who embezzles is a wealthy corporate leader. Many on the bottom economic rung become involved because of financial hardship. With no room for growth and no other employment options, they may resort to taking funds to pay for personal expenses such as medical bills, student loans or even a gambling addiction.

Regardless of the reason for the conduct, anyone who faces charges of embezzlement must rely on a strong defense to avoid or reduce the many adverse consequences that would come from a conviction.

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