Problem Gambling—4 Facts for Lancaster, Lebanon Businesses

How much money can your business afford to lose to an employee’s gambling addiction?

$30 million?

That’s how much an Atlanta, GA real estate law firm lost after alleged embezzlement by one of its former managing partners. The accused man reportedly took money from several of the firm’s accounts as well as from those belonging to a related title company, according to the Atlanta Journal-Constitution.  He allegedly wired $4 million to casinos. An attorney for the accused man has called the allegations “false.”

We don’t know if the accused man struggled with compulsive gambling or what the outcome of this situation will be, but it’s a good reminder for Lancaster and Lebanon businesses that employees with gambling addiction can create significant problems for a company. Consider these problem gambling facts:

1. Gambling in the workplace is a serious productivity drain—the March Madness tournament alone is estimated to cost businesses up to $1 billion in productivity each year.

2. Gambling was a motivating factor in 33% of major U.S. embezzlement cases in 2012. Compulsive gamblers cannot control the urge to bet, much like someone addicted to drugs can’t control the urge to use. The result? A person addicted to gambling may turn to fraud or theft to find the money to gamble or cover personal bills.

3. Gambling-related fraud doesn’t need to run into six or more figures to harm a business. Ask yourself: How much can my company afford to lose? $1,000? $10,000? $50,000? The fact is that any loss is too much.

4. You can take action to prevent gambling-related fraud. Learn more by visiting these resources:

Need more information? Contact Compass Mark at (717) 299-2831. Our team provides education, prevention, and confidential treatment guidance to employers in Lancaster County and Lebanon County.

 

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