Fraud Flashcards
List the types
Paying salaries to “ghost” employees
Rolling of cash
Exchange control violations
Tax evasion
White collar crimes
Money laundering
Exapmin wht they are
The employee calculates salaries for fictitious (“ghost”) employees and transfer the money to their own accounts
The cashier deliberately understates the deposits each month - taking a large amount of money for his own use and replaces this each month with newfunds
received near the end of the month.
Violating the restrictions on the purchase and sale of foreign exchange
Tax evasion is avoiding paying tax by illegal means.
A crime committed by a person of respectable and high social status in the course of his occupation/work. Like bribery, forgery, insider trading, embezzlement, computer crime, money laundering.
Processing money acquired illegally (through theft, drug dealing, fraud, currency speculation, arms smuggling, illicit diamond dealings, etc.) by using it later ina legal transaction so that it appears to have come from a legitimate source.
