Term
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Definition
| A scheme in which fraudulent refund is processed at the cash register to account for stolen cash |
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Term
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Definition
| A false refund scheme in which an employee processes a fake refund transaction as if a customer were actually returning merchandise, and pockets the cash |
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Term
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Definition
| A false refund scheme in which an employee overstates the amount of a legitimate customer refund, gives the customer the actual amount of the refund, and steals the excess |
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Term
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Definition
| A scheme in which an employee accounts for stolen cash by voiding a previously recorded sale |
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Term
| b) Bob Walker was considered one of Thrify Pay Less's top employees and nobody suspected him of fraud |
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Definition
Regarding the case study, "Demotion Sets Fraud in Motion", which of the following statements is incorrect concerning Bob Walker's theft of company funds?
a) A bookkeeper for the company was the first to notice an unusually large number of policy overrides by Bob
b) Bob Walker was considered one of Thrify Pay Less's top employees and nobody suspected him of fraud
c) Internal controls were not enforced by the local manager |
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Term
| In a register disbursement scheme, the employee removes the cash from the register and the removal of the money is recorded on the register tape. |
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Definition
| How do register disbursement schemes differ from skimming and larceny schemes? |
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Term
| Register disbursement schemes are the least frequent and the second least costly |
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Definition
| How do register disbursements rank among fraudulent disbursement schemes in terms of frequency and median loss? |
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Term
1) Creating a false refund
2) Overstating a refund |
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Definition
| What are two ways to create a false refund on the cash register? |
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Term
| Because when a refund is false, there is no actual return of inventory, which causes inventory to be overstated |
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Definition
| How can a false refund easily be detected? |
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Term
| e) None of the above are incorrect |
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Definition
Regarding the case study, "A Silent Crime", which of the following statements is incorrect concerning Joe Anderson's register disbursement scheme?
a) Anderson was colluding with various friends, relatives, and neighbors to perform credit card refunds
b) Anderson was living the high life while working a 15-hour-a-week job
c) The reason Anderson committed his fraud involved social status
d) To document Anderson's theft, Secret Services told Rooker (CFE) to install video surveillance
e) None of the above are incorrect |
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