I fired two people

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Question:

I am a CEO of a small financial institution! Recently we had our first internal fraud, money was missing at our branch. I reviewed where the branch manager and head teller didn’t follow our procedures allowing money to be stolen. I fired them both on the spot. Now this morning we have discovered more money is missing! I didn’t stop the internal fraud how should I proceed?

Answer:

You never fire anyone when conducting an internal fraud examination. Once a person is released, they have no reason to help you during your investigation. We recommend you suspend people with pay until the investigation is completed. Now when the examination is conducted properly you will find your embezzler. The problem is going to become will the people you released bring a lawsuit against the financial institution.

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