Fraud and Other Investigative Techniques. Chapter 10. Learning Objectives. The definition of fraud Different types of fraud Components of the Fraud Triangle Utilization of ACL and i2 Analyst Notebook in fraud investigation. Learning Objectives (contd.).
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The definition of fraud
Different types of fraud
Components of the Fraud Triangle
Utilization of ACL and i2 Analyst Notebook in fraud investigation
Intentional deception, simply lying, cheating, or stealing
A generic term, embracing all multifarious means which human ingenuity can devise, and which are resorted to by one individual to get advantage over another by false suggestions or by suppression of truth. It includes surprise, trickery, cunning, dissembling, and any unfair way by which another is cheated.
Employee embezzlement – fraud in which employees steal company assets either directly – stealing cash or inventory –or indirectly – taking bribes or kickbacks
Management fraud – deception by top management of an entity primarily through the manipulation of the financial statements in order to mislead users of those statements
Investment scams – the sale of fraudulent and often worthless investments (telemarketing and Ponzi scheme type frauds)
Courthouse records – lawsuits, judgments, property filings, bankruptcy filings
Company records – SEC filings, Dun and Bradstreet has private company data, D/B/A filings with state or county, real estate filings
Online databases – lexis nexis, dow jones, etc
The internet – knowX – fraud searches, switchboard – white and yellow page listing,