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Add You - Fraud Schemes - 6 Main Types Of Occupational Fraud
Are you like many enterpreneurs who are afraid to choose a niche for your offerings? I know there can be the fear that you're limiting your business if you narrow your niche down too much, but that simply isn't true. Believe me, it's so much easier and profitable to market to a smaller portion of the market (just think how many people there are in the world!) than to try to be all things t
-Indirect Fraud: employees take bribes or kickbacks from vendors, customers, or others outside the company to allow for lower sales prices, higher purchase prices, nondelivery of
The old types of post-paid telephone bills, printed in fixed formats and delivered through postal services, are fast yielding way to prepaid billing and online payment options. With advancements taking place in various modes of telecommunication and the voice, data or wireless technologies coming with new features, telecom service providers have to keep pace with the rapidly changing techn
a. Is clandestine
b. Violates the employee’s fiduciary duties to the organization
c. Is committed for the purpose of direct or indirect financial benefit to the employee
1. Employee Embezzlement
-Most common type of occupational fraud (more than 80% of frauds)
-Employees deceive their employer by taking company assets.
-Cash most targeted asset, taken 90% of the time
Occupational Fraud can be either direct or indirect
-Direct Fraud: employee steals company cash, inventory, tools, supplies, or other assets, or establishes dummy companies and have employers pay for goods that are not actually delivered Does not use a 3rd party, the money goes straight to perpetrator’s pockets.
-Indirect Fraud: employees take bribes or kickbacks from vendors, customers, or others outside the company to allow for lower sales prices, higher purchase prices, nondelivery of
It's the question you dreamed about when you were ten years old. It's the question your parents nagged you about during high school. It's the question that stresses most of us out more and more the older we get. "What do you want to be when you grow up?"After living on a college campus for three semesters now, I'm realizing that most people have some really screwed up ways of figuri
a. Is clandestine
b. Violates the employee’s fiduciary duties to the organization
c. Is committed for the purpose of direct or indirect financial benefit to the employee
1. Employee Embezzlement
-Most common type of occupational fraud (more than 80% of frauds)
-Employees deceive their employer by taking company assets.
-Cash most targeted asset, taken 90% of the time
Occupational Fraud can be either direct or indirect
-Direct Fraud: employee steals company cash, inventory, tools, supplies, or other assets, or establishes dummy companies and have employers pay for goods that are not actually delivered Does not use a 3rd party, the money goes straight to perpetrator’s pockets.
-Indirect Fraud: employees take bribes or kickbacks from vendors, customers, or others outside the company to allow for lower sales prices, higher purchase prices, nondelivery of
Sponsorship certainly conjures up an image of enormous market reach but at a mighty high price. Some of the biggest events in the world reach a market of many, many millions of people. But that's at a level where only major players are able to participate.If you are looking for effective sponsorship at a price you can afford to pay, there are numerous opportunities. For instance, t
-Most common type of occupational fraud (more than 80% of frauds)
-Employees deceive their employer by taking company assets.
-Cash most targeted asset, taken 90% of the time
Occupational Fraud can be either direct or indirect
-Direct Fraud: employee steals company cash, inventory, tools, supplies, or other assets, or establishes dummy companies and have employers pay for goods that are not actually delivered Does not use a 3rd party, the money goes straight to perpetrator’s pockets.
-Indirect Fraud: employees take bribes or kickbacks from vendors, customers, or others outside the company to allow for lower sales prices, higher purchase prices, nondelivery of
In the Black Hills of South Dakota, carved in granite, the six-story faces of George Washington, Thomas Jefferson, Abraham Lincoln and Theodore Roosevelt create a grand impression viewed from a distant, or standing on the national monument's viewing terrace. Visiting Mount Rushmore on vacation, I found the documentary of its making fascinating. Weeks later, one story stayed with me.
-Direct Fraud: employee steals company cash, inventory, tools, supplies, or other assets, or establishes dummy companies and have employers pay for goods that are not actually delivered Does not use a 3rd party, the money goes straight to perpetrator’s pockets.
-Indirect Fraud: employees take bribes or kickbacks from vendors, customers, or others outside the company to allow for lower sales prices, higher purchase prices, nondelivery of
We all have ways of testing opportunities that enter our lives. Some of us just dive right in based on feeling, others walk straight into what they know is right by a gut feeling or intuition. And if it’s not gut feelings or emotions that are the tests of opportunities, it is the logical mind persuading us to ignore those feelings and emotions and test it with our reality of reason.<
-Indirect Fraud: employees take bribes or kickbacks from vendors, customers, or others outside the company to allow for lower sales prices, higher purchase prices, nondelivery of goods, or the delivery of inferior goods. Usually payment to employees is made by organizations that deal with the perpetrator’s employer, not the employer itself.
2. Management Fraud
-Usually fraud by top management’s deceptive manipulation of financial statements
3. Investment Fraud
-Closely related to management fraud
-Fraudulent and usually worthless investments are sold to unsuspecting investors.
-Charles Ponzi is father of investment scams
-In 2000, more than $5 billion lost from telemarketing fraud
-Recent mutual fund frauds were investment scams using market timing and late trading
-Illegal market timing is an investment technique that involves short term in-and-out trading of mutual fund shares. This technique has caused losses to long term mutual fund investors of approximately $5 billion per year.
-Late trading allowed selected inve
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