What You'll Learn
- Why dental office embezzlers fall into two distinct psychological types: the "Needy," who steal out of financial desperation triggered by events like addiction, a spouse's job loss, or divorce, and the "Greedy," who steal for an emotional "endorphin rush" rather than financial need.
- The real case of a Greedy embezzler who kept stealing from her employer even after winning a seven-figure lottery jackpot, proving the theft was never really about money.
- How Greedy embezzlers often resent their employer's wealth and status because they see themselves as the dentist's intellectual equal, using theft to level the perceived inequity.
- The telltale spending signs that expose a Greedy embezzler, from top-end BMWs and boats to a "Shoe of the Month Club" membership bought with the practice owner's own stolen money.
What You'll Learn
- Why dental office embezzlers fall into two distinct psychological types: the "Needy," who steal out of financial desperation triggered by events like addiction, a spouse's job loss, or divorce, and the "Greedy," who steal for an emotional "endorphin rush" rather than financial need.
- The real case of a Greedy embezzler who kept stealing from her employer even after winning a seven-figure lottery jackpot, proving the theft was never really about money.
- How Greedy embezzlers often resent their employer's wealth and status because they see themselves as the dentist's intellectual equal, using theft to level the perceived inequity.
- The telltale spending signs that expose a Greedy embezzler, from top-end BMWs and boats to a "Shoe of the Month Club" membership bought with the practice owner's own stolen money.
The Mind of the Embezzler
I’ve often said that our embezzlers fall neatly into two categories, which I labeled the “Needy” and the “Greedy.” Let’s take you inside the mind of the embezzler. The Needy are exactly what you expect; some life event has made their finances unworkable, and they are stealing to preserve the basics of life. Some of the events that might prompt this include an addiction, a spouse losing his or her job, or a divorce. Stealing is done because the thief feels that they have exhausted their other options.
The Greedy are a bit different (and fascinating — I keep threatening to write a book about them — perhaps this column is the start :-). These people steal to scratch an emotional itch, not a financial one. We are completing an investigation now where the thief won a seven-figure lottery prize, and after winning the money– get this — kept stealing. These thieves get some kind of “endorphin rush” when they steal, and it becomes addictive.
The Greedy thieves I have met are smart people and, in many cases, are close to being the intellectual peers of the dentists for whom they work. I think that at some level they resentfully compare your wealth and status to their own, and decide to address the inequity that they perceive.
In contrast to the Needy, Greedy thieves tend to flaunt their “winnings.” We have seen everything from top-end BMWs to boats to membership in the “Shoe of the Month Club” bought with YOUR money.
Have questions about your practice? Click the button below
Understanding How They Think Helps You Stop Them.
The best embezzlement prevention combines financial controls with an understanding of embezzler psychology. Prosperident's proactive strategies address both—so you're protected at every level.
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I’ve often said that our embezzlers fall neatly into two categories, which I labeled the “Needy” and the “Greedy.” Let’s take you inside the mind of the embezzler. The Needy are exactly what you expect; some life event has made their finances unworkable, and they are stealing to preserve the basics of life. Some of the events that might prompt this include an addiction, a spouse losing his or her job, or a divorce. Stealing is done because the thief feels that they have exhausted their other options.
The Greedy are a bit different (and fascinating — I keep threatening to write a book about them — perhaps this column is the start :-). These people steal to scratch an emotional itch, not a financial one. We are completing an investigation now where the thief won a seven-figure lottery prize, and after winning the money– get this — kept stealing. These thieves get some kind of “endorphin rush” when they steal, and it becomes addictive.
The Greedy thieves I have met are smart people and, in many cases, are close to being the intellectual peers of the dentists for whom they work. I think that at some level they resentfully compare your wealth and status to their own, and decide to address the inequity that they perceive.
In contrast to the Needy, Greedy thieves tend to flaunt their “winnings.” We have seen everything from top-end BMWs to boats to membership in the “Shoe of the Month Club” bought with YOUR money.
Have questions about your practice? Click the button below
Understanding How They Think Helps You Stop Them.
The best embezzlement prevention combines financial controls with an understanding of embezzler psychology. Prosperident's proactive strategies address both—so you're protected at every level.
About the author
David Harris
Forensic CPA, CFE, CFF, FIADFE — Chief Executive Officer, Prosperident
David Harris is the Chief Executive Officer of Prosperident, the world's largest dental embezzlement investigation firm. A Forensic CPA, Certified Fraud Examiner, and Certified in Financial Forensics, he has led investigations into financial crime in dental practices since 1989 and speaks regularly to dental audiences across North America on detecting and preventing embezzlement.
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