Asset Misappropriation: Fraudulent Disbursements

Question 1

Two types of Register Disbursement Schemes

Answer 1

False Refunds + False Voids

Question 2

What are indicators of Register Disbursement Schemes

Answer 2

employees void won transactions
gaps in transaction logs
excessive voids, no-sales

Question 3

What are three types of billing schemes

Answer 3

invoice shell companies
invoice nonaccomplice vendors
personal purchases with company funds

Question 4

Pay and return Scheme

Answer 4

double pay an invoice

Question 5

Shell Companies

Answer 5

purchase services rather than goods
pass-through schemes

Question 6

credit card refund scheme

Answer 6

employee rings up credit card sale (nothing returned)
employee credits own credit card

Question 7

Pass through Scheme

Answer 7

• goods services sold to victim company instead of vendor
• sets up shell company and purchases merchandise from shell company
• sell merch to employer for inflated price

Question 8

Elements of Payroll Fraud Scheme

Answer 8

• Ghost employees
• Ghost added to payroll
• timekeeping/wage rate
• paycheck must be issued
• check delivered to perpetrator or accomplice

Question 9

Expense Reimbursement Schemes (1-2)

Answer 9

• Mischaracterized expense reimbursements
• Overstated expense reimbursements

Question 10

Expense Reimbursement (3-4)

Answer 10

• Fictitious expense reimbursements
• Multiple reimbursements

Question 11

What is mischaracterized expense reimbursement

Answer 11

employees request reimbursement for personal expense claim expense is business related

Question 12

Overstated expense reimbursements

Answer 12

Alter receipt for higher cost

Question 13

Fictitious Expense reimbursement

Answer 13

employee invents expense and requests reimbursement

Question 14

Multiple reimbursements

Answer 14

Employees submit single expense more than one time