Overs & Shorts

By Ramy Abud
National Cash Investigations Manager
Sears Canada Inc.

Cash money incoming daily from registers (90 Millions per month) are not added at store but rather sent to bank who is compiling cash and cheques and return datas to us. Reports are generated showing bank numbers to POS results. Every LP members in stores were responsible to work overs-shorts and investigate any discrepancies. Was not working at all and losses were over $1.5 Million per year. Idea: Regroup and educate specialized investigators in one location to do overs-shorts investigations for all units nationwide. Result: went from $1.5 million losses to less than $100,000 per year. Arrestation of several cases of money defalcation by employees. Built strict and rigorous processes with banks, stores and employees relating to cash money. Detection of counterfeit and money laundering.