Do we need to file a SAR for confirmed employee theft?
Among credit risk, market risk and operational risk, developing a good operational risk management program seems to be the most challenging. Can't our existing compliance processes (e.g., AML, Red Flags, GLBA, etc.) contribute to operational risk management?
I am the Internal Auditor at a small bank. We had $3,000 stolen from a teller's drawer by another employee. I think I know who took the money because I have collected supporting evidence. All of the evidence is circumstantial. What are my options with this teller? I am new to this position and have had training in finding fraud, but not in dealing with it. I do not want to violate her rights but would like to question her. Please advise.
I have had several large employee thefts during the last year. Do I need to send out a 1099 or other government form for the "non-reported income"?