Employee embezzlement can cause irreparable damage to an organization. No organization is immune. Fraud affects nonprofits, charities, corporations and even religious organizations. Large, medium, small - it does not matter. In fact, according to a study conducted by Harvard University, fraud loss in the nonprofit section was estimated to be a staggering $40 billion each year.
Embezzlement usually starts out very small and grows exponentially, often over the course of many many years, until the fraud grows too large to go unnoticed and is ultimately discovered. This happens for many reasons, but more often than not, a normal financial audit does not reveal any discrepancies within the numbers.
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