afektem

Afektem is a term used in some legal and financial contexts to refer to the misappropriation or embezzlement of funds by a person who has been entrusted with those funds. In jurisdictions that recognize the term, afektem describes the unauthorized taking, use, or transfer of money or property by an employee, officer, agent, or fiduciary, with the intent to deprive the owner of its use or benefit.

Common forms of afektem include payroll fraud, ghost vendors, double invoicing, fictitious expenses, and the appropriation of company assets for personal use. The acts typically involve exploiting a position of trust, weak internal controls, or gaps in accounting processes to conceal the diversion of resources.

Key elements often cited in discussions of afektem are the existence of a fiduciary or custodial relationship, the misappropriation or wrongful use of funds, and fraudulent intent. The offense is usually distinguished from simple theft by the presence of a duty to handle funds or property on behalf of another and the breach of that duty.

Penalties for afektem vary by jurisdiction and can include fines, imprisonment, and restitution to victims or organizations. Enforcement may involve internal investigations, external audits, and civil actions in addition to criminal proceedings. Preventive measures emphasize strong internal controls, separation of duties, regular reconciliations, independent audits, and clear reporting channels for suspected misconduct.

See also embezzlement, fraud, misappropriation, financial crime.