It sounds like a lot of obvious mistakes were made here. #1 on my list would be to never give direct access to the company's bank account if possible, and definitely not without limits. There should be 1 or 2 names on it max.
What has personally worked for me is providing company credit cards with a max limit of $25k to anyone who actually needs to be actively spending. Right now that's head of tech, head of marketing and CEO. My company is larger and spends quite a bit. If you are bootstrapping or have done an angel round, perhaps this number should be $5k or $10k. Either way, the important part is the limit.
As far as withdrawals go, a 2-signer system on all checks is a no-brainer, though in this case it sounds like an in-person withdrawal from a branch is what got you. I would check with your bank to see if they can setup a similar system for withdrawals over $X. I've worked with Silicon Valley Bank and they are super flexible to any of these custom needs.
Best of luck with getting back up after this. These are the kinds of events that you need to creatively persevere through.
What has personally worked for me is providing company credit cards with a max limit of $25k to anyone who actually needs to be actively spending. Right now that's head of tech, head of marketing and CEO. My company is larger and spends quite a bit. If you are bootstrapping or have done an angel round, perhaps this number should be $5k or $10k. Either way, the important part is the limit.
As far as withdrawals go, a 2-signer system on all checks is a no-brainer, though in this case it sounds like an in-person withdrawal from a branch is what got you. I would check with your bank to see if they can setup a similar system for withdrawals over $X. I've worked with Silicon Valley Bank and they are super flexible to any of these custom needs.
Best of luck with getting back up after this. These are the kinds of events that you need to creatively persevere through.