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View Full Version : Bank Teller Steals over 1 Million Dollars!


19Sandy
2-3-17, 8:43pm
It took the bank 10 years to learn this information! The alleged thief changed documents (how?) to slowly steal this money over 10 years. Now, what kind of a bank doesn't notice this after a month? Places that I have worked investigate if there is 1 dollar difference at the end of a banking day. Honestly, whoever was in charge at this bank as accountants are a bunch of dimwits!
sweetana3
2-3-17, 9:32pm
probably for a lot of the same reasons that Madoff was able to steal so much for decades.
Simplemind
2-3-17, 11:46pm
There are so many ways of taking money so that it doesn't show as a shortage.
jp1
2-5-17, 6:48pm
Clearly the bank's audit procedures left something to be desired. There should have been multiple people responsible for auditing the bank's cash holdings, not the same person month in and month out for ten years.
LDAHL
2-6-17, 9:34am
Clearly the bank's audit procedures left something to be desired. There should have been multiple people responsible for auditing the bank's cash holdings, not the same person month in and month out for ten years.

In the accounting game, that's referred to as segregation of functions. I'm wondering too where the bank examiners were in all this.
bae
2-6-17, 2:04pm
Clearly the bank's audit procedures left something to be desired. There should have been multiple people responsible for auditing the bank's cash holdings, not the same person month in and month out for ten years.

Seriously.

Each year we place into our records a small number of "bad" items in our records, subtle ones - a reversed pair of digits, or a < $1 discrepancy, or some other such stuff. Each year the independent auditor has discovered these salted transactions.