Define: Embezzler

An embezzler is an individual who unlawfully and fraudulently appropriates or misappropriates money or property entrusted to them for safekeeping or management, typically in the course of their employment or fiduciary duties. Unlike theft or robbery, where property is taken without permission, embezzlement involves the unauthorised conversion of property that the embezzler has been entrusted to manage or safeguard. Embezzlers often abuse positions of trust or authority, such as employees, agents, or fiduciaries, to gain access to funds or assets and then divert them for their own personal use or benefit. Embezzlement is considered a form of white-collar crime and is punishable under criminal law. The severity of penalties for embezzlement depends on various factors, including the value of the embezzled funds, the extent of the fraud, and the presence of aggravating circumstances. Embezzlement can have serious consequences for victims, businesses, and organisations, resulting in financial losses, reputational damage, and legal liabilities. Therefore, detecting and preventing embezzlement is important for safeguarding assets and maintaining trust in financial transactions and relationships.

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This glossary post was last updated: 29th March, 2024.