Define: Cyphonism

Cyphonism is a term used to describe the illegal practice of secretly diverting funds or assets for personal gain.

Yes, cyphonism is considered a criminal offense and is often prosecuted as embezzlement or fraud.

The consequences of cyphonism can include criminal charges, fines, and imprisonment. Additionally, the individual may be required to repay the diverted funds or assets.

If you suspect cyphonism is occurring, you should report it to the appropriate authorities, such as law enforcement or regulatory agencies.

In some cases, individuals who were not directly involved in cyphonism may still be held liable if they were aware of the illegal activity and did not take steps to prevent it.

Common signs of cyphonism include unexplained financial discrepancies, missing funds or assets, and suspicious financial transactions.

Whistleblowers who report cyphonism are protected by law from retaliation by their employer. They may also be eligible for financial rewards under certain whistleblower protection laws.

If you suspect a colleague of engaging in cyphonism, you should report your concerns to your supervisor or the appropriate authorities. It is important to follow your organisation’s internal reporting procedures.

Yes, a victim of cyphonism may pursue civil action against the perpetrator to recover the diverted funds or assets and seek damages for any harm caused by the illegal activity.