Fraud Done By Staff

see ranjan are you a colllection guy or a HR person? as per RBI/banks guidelines any internal/external theft has to come in notice/roaster within 24-48 hours of local RBI body, secondaly if the sum is 15Lacs then the matter cant be upheld automatically its the NCM(National Collection Head/Mgr's) duty to sort out such cases and to me he would or on his instruction RCM/ACM certainly would have initiated a police complaint in this matter. Over to that if the guy is from some collection agency then the agency is liable to submit the entire money against the customers cash memos else they can face the music under economic offence and your NBFC can share the info with local RBI body and other banks(IBA).

See, these are routine matters in collections, banks and police also knows that... but really very surprising is that a days collection can be 15lacs through a single hand in any NBFC where a ticket size of a loan and EMI's are comparatively low? what EMI's was he collecting? I dont think a business loans EMI can make it to that..?

anyways.. Its not at all a HR's direct matter, filling a report will again be an onus of collection head and sales head and in police/court its company's lawyer who will address it. don't worry!!

• Rs. 15 lakhs is a very big amount. have you reported this incidence to your higher-ups? What is their response and advise ? If not reported yet, report it immediately ?

• Logically if amount is lost stolen from someone's possession then he needs to initiate FIR and other actions. If amount is lost stolen from office then cashier / accountant / manager needs to lodge FIR.

• If you are smelling something otherwise, you yourself can lodge the FIR and name the suspect. You must be having your seniors to guide you in these types of incidences, seek their advise.

How can a person keep 15lakh cash at home ?
If its 1.50 lakh then also how customer gives cash ( when cheque /DD bank Transfer is possible).?
The employee should not be blamed for this . Seeing cash any one can do this.
Y ur company is not going to lodge FIR ?
Collecting cash and converting them from Black to white the employee must have sensed so just kept the money with him, as employee know if employer goes for taking legal action company will also be in trouble.

Rajan Sir to be frank I feel this case is goofed up and i feel you are not getting the point and neither following the advice of members, you are just asking how to go from it and how to proceed etc etc so first tell us your position and power and who you are and what have been assigned to you in this case, are you really aware of the seriousness of this incident, in accounts even a goof up of 100 rs is a matter of question of integrity and loyalty of the cashier, accountant, collection boy.. Something is really fishy and if you are not a part of this scam then take immediate action, scam means this is just a goofed up story, and you are also enquiring from insurance means you just think if insurance pays you money it is solved for you, because the money of 1.5 lakhs already goofed up and shared amongst some employees of ur company like the fraud, scam which politicians do, and insurance pays 1.5 lakhs to company so neither company also not in loss, and people getting free money, loss is insurance company , you should act within 1 hour and solve the crime. I am working as Assistant Accounts in one govt organisation and we strictly follow GFR, GAR Rules, so whatever money we collect as receipt on one day it should be deposited same day or next day to the bank. And for all transactions you can use cheque, netbanking and other facilities I dont really understand how come your executive collect 1.5 lakh and keep it in his room instead of depositing it in bank, and how a customer can give 1.5 lak cash unless its some black money, being from accounts field this case is not at all possible where are your rules regarding collection and deposit of cash installment receipts.

• As stated by poster it is Micro-finance / Retail Finance Company, where EMIs could be anything between Rs. 1000 to 7000. In case of default collectors do collect EMIs and penalty in cash. But collectors have to deposit cash with the office same day.

• 1.5 lakhs can be a day's collection but 15 lakhs is a unimaginable figure.

• In case of insurance of cash, theft, burglary, fraud etc., Police FIR is must. Insurance company will not entertain such claims without FIR.

Dear Ranjan,

It seems the changing version is rousing suspicion in you. So is it to me. On your part you state what exactly your staff told you in your statement to the police during their investigation. As an officer of an intelligence agency, I assure you that will save you.

Secondly, if you have a vigilance or security department, just get to the details of his and his near relations' bank details and see them. If he is coming to office, let those vigilance/security persons intimidatingly deal with him to elicit the truth. Best if this is done by the police and your security officers in the P.S. He will surely spill beans. Rest all will follow, such as seizing the amount if available in cash, blocking the account if deposited in bank account and so on.

Prima facie, you dont have to worry much because the amount was not handedover to you or atleast there is no such record! But dont sleep happily because you will have to answer why you did not approach the police forthwith. It appears that no complaint has been filed. Why? What is your position in the company? Why have you/your company not run to the police station immediately on coming to know of the loss? What considerations were there in the delay?

Complaint has to be lodged in the police station of jurisdiction.

Sincerely,

PV Ramana

u should keep your bosses in loop .. as he may tap you even in a story .
so dont hesitate in talking to ur seniors abt it .
Rdgs
Himani

Dear Sir,
Call the employee in person esp to your chamber and enquire about the incident with the presence of some of your colleagues and get written confession about what happened with some witnesses. The confession given in writing will be a good record for later reference. And then again ask your boss or immediate superior to enquire about the incident again after some days. Compare the confessions given to you in writing and the confession given to your boss or immediate superior. The truth will be revealed.
OUr experience:
1. To conceal one truth one has to tell several lies.
2. Person who speaks truth will stand on his statement even after several months.
3. Fabricated strory will be easily revealed when enquired on different occasions.
4. Statement which is got in writing will put the culprit in trouble.