Back to Blog
Credit Card Processing

Signs That May Indicate POS System Employee Theft Is Occurring

August 22, 2019 • by jclarknationalprocessing-com

There are all kinds of businesses that accept various payment forms. They take cash, credit/debit cards, checks, and online payments. Whenever money is exchanging hands, unfortunately, employee theft can occur. Of course, most business owners like to think that they hire honest, hard-working, and respectable workers, but sometimes, a rotten egg can slip through the hiring process here or there. They steal a few bills from time to time as they feel as if the organization owes them. These instances should not be taken lightly. They can cost the establishment loads of money in the long run if left unchecked. According to an article published in Security Magazine, in 2016, U.S. businesses that experienced employee theft lost an average of $1.13 million. This figure is nothing to shake a stick at as numbers like these can cause a company to have to shut their doors for good in a hurry. So, sole-proprietors, partnerships, and corporations need to take certain precautionary measures to ensure they don’t fall victim to such a scheme.

Watch For These Signs Or Hire A Merchant Services Company To Help With The Endeavor

1. Voids, Refunds, And No Sales

If the POS system shows instances of refunds, voids, or no sales time after time, employee theft could be the problem. For one, the worker could be pocketing the cash. Then again, he or she could also be giving discounts to friends, family members, and co-workers. Check to see if these issues are happening more when a particular cashier is on the schedule. Then, the culprit is likely him or her. Also, if your company has invested in a security system, review the security camera footage to see if you can catch them in the act.

 2. Be Mindful That Money Is Not The Only Thing People Steal

In accessing the inventory control module of your POS system, you will quickly be able to observe what products have needed to be purchased as of late. It is possible that the store could have has a sale, and consumers bought the items. However, if the numbers don’t add up, you may have an employee theft problem on your hands. So, use your terminal for more than just accepting transactions and nip worker fraud in the bud early on. 

Blog Search
Most Read Blog Articles
The Key Disadvantages of POS Systems Every Business Owner Should Know The Key Disadvantages of POS Systems Every Business Owner Should Know July 21, 2021
Voice Authorization Basics Voice Authorization Basics July 20, 2021
Is Apple Pay Safe? It’s Safer Than Most Credit Cards Is Apple Pay Safe? It’s Safer Than Most Credit Cards September 13, 2021
High-Risk Check Processing High-Risk Check Processing July 20, 2021
Understanding What Registered ISO/MSP’s Are Understanding What Registered ISO/MSP’s Are July 21, 2021
Blog Categories
All posts 163
ACH 27
Cash Discount 12
Chargebacks 6
Clover 1
Credit Card Processing 123
Credit Card Reader 9
Educational Resources 10
EFT Payment 18
Featured 6
Fees 4
Funding 4
Interchange-Plus Pricing 2
Other 26
Recurring Payments 1
Regulation 2
Security 12