How to stop employee credit card abuse

Mogul of Pineapples · 11:12 PM

The Motley Fool had a piece today about how business owners and managers can prevent credit card fraud by their employees using the company credit card the wrong way.

http://www.fool.com/personal-finance...dit-abuse.aspx

I myself don't have a company credit card nor give anyone access to one, but the tips in here sound logical. Setting the rules ahead of time on paper before employees get the cards seems like a good start.

AnthonyBarone · 01:16 PM

Did you see that part about this Georgia Tech employee racking up over 300 grand on the company credit card buying a jet ski and a $2000 margerita maker? How in the sam hill can someone get away with this. Basic oversight should have caught that kind of fraud long ago. Then that number about over 40% of credit card purchases by federal employees are improper. You have got to be kidding me on this.

Floppster · 05:15 PM

Quote:

Originally Posted by AnthonyBarone

Did you see that part about this Georgia Tech employee racking up over 300 grand on the company credit card buying a jet ski and a $2000 margerita maker? How in the sam hill can someone get away with this. Basic oversight should have caught that kind of fraud long ago. Then that number about over 40% of credit card purchases by federal employees are improper. You have got to be kidding me on this.

Where we come right to this:
FOXNews.com - Investigators: Federal Employees Charged Millions in Questionable Expenses on Credit Cards - Politics | Republican Party | Democratic Party | Political Spectrum

Cucumber · 12:01 AM

Honestly like I don't even get why 90% of these frickin people even have company credit cards. Like why do postal workers need credit cards??!?! I mean it's not like they have equipment or supplies they need to buy. Seriously there is no logical reason here for why they have them. All this does is drive down pay for the rest of us because these employees milk the system and there's less money to go around to pay people. And then too it's like they are getting a higher salary compared to the rest of us (tax free!) for all this spending they do on the company credit cards.

02:22 AM

its really a valuable post

11:12 PM	#1
Mogul of Pineapples Centurion Member Join Date: Jun 2008 Location: Where the smog from the 101 freeway coats my home's windows... Posts: 634	How to stop employee credit card abuse - the guide The Motley Fool had a piece today about how business owners and managers can prevent credit card fraud by their employees using the company credit card the wrong way. http://www.fool.com/personal-finance...dit-abuse.aspx I myself don't have a company credit card nor give anyone access to one, but the tips in here sound logical. Setting the rules ahead of time on paper before employees get the cards seems like a good start. __________________ “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” -Warren Buffett Current Cards: American Express: Blue Cash, Simply Cash Bank of America: Visa Financial Rewards Platinum Plus Chase: Rewards Visa, Amazon Visa Discover: More Current Everyday Card: American Express Blue Cash

12:01 AM	#4
Cucumber Centurion Member Join Date: Apr 2008 Location: Zuma Posts: 453	Honestly like I don't even get why 90% of these frickin people even have company credit cards. Like why do postal workers need credit cards??!?! I mean it's not like they have equipment or supplies they need to buy. Seriously there is no logical reason here for why they have them. All this does is drive down pay for the rest of us because these employees milk the system and there's less money to go around to pay people. And then too it's like they are getting a higher salary compared to the rest of us (tax free!) for all this spending they do on the company credit cards. __________________ OBAMA Stop talking crap about him and give him a chance!

02:22 AM	#5
resultb Guest Posts: n/a	student its really a valuable post

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01:16 PM	#2
AnthonyBarone Centurion Member Join Date: Apr 2008 Location: White Plains, NY Posts: 128	Did you see that part about this Georgia Tech employee racking up over 300 grand on the company credit card buying a jet ski and a $2000 margerita maker? How in the sam hill can someone get away with this. Basic oversight should have caught that kind of fraud long ago. Then that number about over 40% of credit card purchases by federal employees are improper. You have got to be kidding me on this.