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CASH RISK ASSESSMENT. Overview. Fraud Common in Workplaces. Occupational fraud is the use of ones occupation for personal enrichment through misuse of the employing organizations resources. Nearly 75% of all companies from around the world suffer from fraud

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fraud common in workplaces
Fraud Common in Workplaces
  • Occupational fraud is the use of ones occupation for personal enrichment through misuse of the employing organizations resources.
      • Nearly 75% of all companies from around the world suffer from fraud
      • 85% of the worst frauds reported were committed by company employees
      • Small business suffer higher fraud losses than large organizations

Cash Risk Assessment

cash fraud is more common
Cash fraud is more common
  • Fraudsters most often target currency, check and money order
  • * Data from ACFE Report to the Nation on Occupational Fraud & Abuse

Cash Risk Assessment

skimming
Skimming

Cash Risk Assessment

  • Scheme in which cash is stolen before it is recorded on the organization’s books and records.
    • Employee accepts payment from a customer but does not record the sale
cash larceny
Cash Larceny

Cash Risk Assessment

  • Scheme in which cash is stolen from an organization after it has been recorded on the organization’s books and records.
    • Employee steals from daily receipts before they can be deposited in bank
billing
Billing

Cash Risk Assessment

  • Scheme in which a person steals his/her employer to issue payment by submitting invoices for fictitious goods/services, inflated invoices or invoices for personal purchases.
    • Employee purchases personal items, submits invoice for payment.
reimbursements
Reimbursements

Cash Risk Assessment

  • Scheme in which an employee makes a claim for reimbursement of fictitious or inflated business expenses.
    • Employee files fraudulent expense report, claiming personal travel, nonexistent meals, etc.,
check tampering
Check Tampering

Cash Risk Assessment

  • Scheme in which a person steals his/her employer’s funds by forging/altering a check on one of the organization’s back account, or steals a check the organization has issued to another payee.
    • Employee steals blank checks, makes them out to himself/an accomplice.
payroll
Payroll

Cash Risk Assessment

  • Scheme in which an employee causes his/her employer to issue a payment by making false claims for compensation.
    • Employee claims over-time for un-worked hours
    • Employee adds ghost employees to the payroll
wire transfers
Wire Transfers

Cash Risk Assessment

  • Scheme in which a person steals his/her employer’s funds by fraudulently wire transferring them out of the employer’s bank accounts.
    • Employee causes funds to be wired from company bank accounts to an account controlled by employee or accomplice
disbursements
Disbursements

Cash Risk Assessment

  • Scheme in which an Employee makes false entries on a cash register to conceal the fraudulent removal of cash.
    • Employee fraudulently voids a sale on his cash register and steals the cash.
when fraud happens
When fraud happens

Cash Risk Assessment

how fraud is detected
How fraud is detected

Cash Risk Assessment

our approach
Our Approach

Cash Risk Assessment

stall approach train
“STALL” Approach - Train

Cash Risk Assessment

stall approach assess
“STALL” Approach - Assess

Cash Risk Assessment

risk assessment report
Risk Assessment Report

Cash Risk Assessment

risk assessment model
Risk Assessment Model

Cash Risk Assessment

risk assessment report21
Risk Assessment Report

Cash Risk Assessment

our service
Our Service

Cash Risk Assessment

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