Not Again! - Bookkeeper Fraud

We just received another call from a devastated business owner. Their trusted bookkeeper had been stealing money directly from the company bank account—again.

If this sounds familiar, it's because it is. We receive calls like this far too often, and the circumstances are frighteningly similar.

• The bookkeeper had full access to internet banking.

• Transactions were hidden using the director's loan account or disguised as business expenses.

• They were a "trusted employee"—often with years of service.

• Cheques required two signatures, but internet banking had no such control.

What We See Time and Again

Here’s what we uncover in nearly every investigation:

• The fraud had been happening much longer than suspected.Most owners believe the theft started in the past few months. Our forensic reviews often reveal it began two or three years earlier, starting with small transactions and growing bolder over time.

• The losses are always larger than expected.In one case, what was believed to be a $30,000 loss over three months turned out to be $750,000 stolen over three years—and that was in a small business.

• The bookkeeper knew exactly how to cover it up.Weak financial controls, lack of oversight, and poor-quality financial reports all create the perfect environment for fraud.

The Three Key Ingredients for Bookkeeper Fraud

Every case of fraud we investigate includes these common risk factors:

1. Opportunity – unrestricted internet banking access, minimal oversight.

2. Capability – knowledge of how to manipulate accounts and reports.

3. Concealment – poor or delayed financial reporting, and owners too busy to ask questions.

How We Help: Forensic Accounting & Fraud Investigation

At Dolman Bateman, our forensic team helps uncover the full scope of employee fraud. We:

• Prove and document the actual loss

• Prepare expert evidence for civil proceedings to recover stolen funds

• Work with police and prosecutors to prepare criminal cases

• Provide expert witness reports for court

• Implement improved accounting systems to reduce future fraud risk

If you suspect that something isn't right in your books, or you're shocked by how much your bookkeeper "just resigned" with little notice, it’s worth a confidential chat.

Contact Arnold Shields Today

If you’re concerned about potential fraud or irregularities in your business accounts, don’t wait. Early action can significantly increase your chance of recovery.

📞 Call Arnold Shields on (02) 9411 5422

📧 Or email: ashields@dolmanbateman.com.au

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Disclaimer:

The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. While every effort has been made to ensure the accuracy of this content at the time of publication, tax laws and regulations may change, and individual circumstances vary. Dolman Bateman accepts no responsibility or liability for any loss or damage incurred as a result of acting on or relying upon any of the information contained herein. You should seek professional advice tailored to your specific situation before making any financial or tax decision.