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(800) 773-7100

Our Mission

City National's mission is to provide the ultimate banking experience for successful entrepreneurs and professionals through an uncommon dedication to extraordinary service, proactive advice and total financial solutions.

Preventing Embezzlement

No matter what size business you have, maintaining controls protects you and reduces your risk.

What Can You Do?

Functions Suggested Actions...
Audit Periodically audit your check stock to ensure all unused checks can be accounted for.
Bank Accounts For a better audit trail, you may want to have separate accounts and separate employees for accounts payable and accounts receivable.
Bank Statements Examine statements immediately when they come in the mail (or online) in order to monitor fraudulent account activity.
Segregation of Duties Have someone independent of check-writing responsibilities reconcile your bank accounts. Rotate personnel on a quarterly basis.

Always provide dual approvals on wire and ACH transactions. This ensures more than one employee is reviewing these types of transactions.
Check Stock Keep your check stock locked up at all times. When checks are printed, every check should be accounted for, including voided, jammed and cancelled checks.
Document Management Protect all documents by locking them up and always maintaining a "clean desk" policy. If documents need to be discarded, shred them!
Employees Screen new employees by having background checks performed before making a job offer - even for part-time employees or contractors.
Paper vs. Electronic Investigate areas where moving to electronic processing and operations will reduce risk and increase controls by making it tougher to destroy and hide important documents.
The "Trusted" Employee More times than not, the "trusted" employee is responsible for embezzling funds. They get forgotten about because they've been around a while and they know the system.
Protect All Accounting Documents Secure check stock, signature equipment, invoices, statements and other critical information.