Cash risk assessment l.jpg
Sponsored Links
This presentation is the property of its rightful owner.
1 / 25

CASH RISK ASSESSMENT PowerPoint PPT Presentation


  • 50 Views
  • Uploaded on
  • Presentation posted in: General

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

Download Presentation

CASH RISK ASSESSMENT

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


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

    • 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

  • Fraudsters most often target currency, check and money order

  • * Data from ACFE Report to the Nation on Occupational Fraud & Abuse

Cash Risk Assessment


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 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

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

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

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

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

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

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

Cash Risk Assessment


How fraud is detected

Cash Risk Assessment


Our Approach

Cash Risk Assessment


“STALL” Approach - Structure

Cash Risk Assessment


“STALL” Approach - Train

Cash Risk Assessment


“STALL” Approach - Assess

Cash Risk Assessment


Risk Assessment Report

Cash Risk Assessment


Risk Assessment Model

Cash Risk Assessment


Risk Assessment Report

Cash Risk Assessment


“STALL” Approach – Learn

Cash Risk Assessment


“STALL” Approach – Listen

Cash Risk Assessment


Our Service

Cash Risk Assessment


Get in touch today: Phone: (044) 28362531 / 32 / 33Email : lionel@verveindia.comWeb : http://www.verveindia.com


  • Login