You may have seen a recent news story about a bookkeeper in Kent who stole nearly £100,000 from her employer. (see the link below if you didn’t)
She did it over a couple of years, hiding behind emotional stories and clever use of company accounts.
It’s the sort of tale that makes every business owner’s stomach turn — not just because of the money involved, but because it shows how easily trust can be exploited. And while this case made headlines, the truth is smaller, quieter versions of the same thing happen all the time.
People are living the high life on the hard earned money often putting businesses and jobs at risk. Don’t even get me started on the lenient sentences these fraudsters get when caught.
The good news is you don’t need complicated systems to protect yourself. With a few sensible checks, you can make it much harder for fraud to slip through the cracks.
- Separate the duties
In the case above, one person had far too much control. Where possible, split financial tasks so no one person controls everything. For example, the person who approves payments shouldn’t also be the one making them. If possible don’t give anyone access to the bank other than you.
- Review your bank accounts properly
If you have given someone access to your bank or credit card then don’t just skim the statements — look at the transactions in detail. Check who was paid, what for, and whether it makes sense. In that this case, unusual payments were disguised as something else. A closer look might have caught it sooner.
- Make the most of your software
Accounting platforms like Xero or QuickBooks can flag up odd spending patterns, but only if you run the reports. Get into the habit of checking supplier payments and expenses monthly.
- Keep personal and business spending separate
One of the tactics fraudsters often use is slipping personal costs through as business ones. Avoid that entirely by making a firm rule: company cards and accounts are for business only, no exceptions.
- Pay attention to behaviour, not just numbers
In the Kent case, the fraudster often explained away her actions with dramatic personal stories. If someone regularly uses excuses to avoid scrutiny, that’s a red flag.
- Get an outside eye
Even if you handle your own books, ask your accountant to review them periodically. A fresh perspective can highlight things you might overlook.
- Encourage openness
Often colleagues spot unusual behaviour first but don’t feel able to raise it. Creating a culture where people can speak up safely is a powerful defence.
Final thought
Fraud cases like this one grab attention because they’re dramatic, but the real lesson is simple: trust is important, but checks and balances protect everyone. A few practical safeguards can keep your finances secure — and your peace of mind intact.
Read the full article here.
