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Check Tampering - PowerPoint PPT Presentation

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Check Tampering. Check Tampering. Forged Maker. Forged Endorsement. Altered Payee. Concealed Checks. Authorized Maker. Frequency of Fraudulent Disbursements. Comparison of Median Loss of Fraudulent Disbursements. Dollar Loss Distribution- Check Tampering Schemes.

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Check Tampering

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Check Tampering











check tampering schemes
Check Tampering Schemes
  • Perpetrator
  • What must the perpetrator have to do perpetrate this type of scheme?
forged maker schemes
Forged Maker Schemes
  • What is this?
  • What must the perpetrator be able to do in order to perpetrate this fraud?
obtaining the check
Obtaining the Check
  • Employees with access
  • Employees without access
  • Counterfeit
how should checks be safeguarded
How Should Checks be Safeguarded?
  • Lock and key
  • Limited access
  • Blank checks
  • Periodically checks
  • Voided checks
  • Watermark paper
  • Out-of-sequence canceled checks and duplicate check numbers
  • Daily reconciliation
to whom is the check made payable
To Whom Is The Check Made Payable?
  • Perpetrator
  • Accomplice
  • “Cash”
  • Vendors
forging the signature
Forging the Signature
  • Free-hand
  • Photocopied
  • Automatic check-signing instruments
how can forged maker schemes be prevented and detected
How can Forged Maker Schemes be Prevented and Detected?
  • Blank checks
  • Rules
  • Separation of duties
  • Rotation
  • Limited access
forged maker schemes18
Forged Maker Schemes
  • Miscoding
  • Concealing
forged endorsement schemes
Forged Endorsement Schemes
  • Interception
  • Third party signature
intercepting checks before delivery
Intercepting Checks Before Delivery
  • Employee
  • Controls
  • Theft
  • Rerouting
  • Converting
preventing and detecting the theft of outgoing company checks
Preventing and Detecting the Theft of Outgoing Company Checks
  • Separation of duties
  • Trained employees
  • Complaints
  • Duplicate payments
preventing and detecting the theft of outgoing company checks22
Preventing and Detecting the Theft of Outgoing Company Checks
  • Restricted changes
  • Periodic reporting
  • Canceled checks
  • Date of mailing
altered payee schemes
Altered Payee Schemes
  • Intended for a third party
  • Payee designation altered
  • Reduced discovery
altering checks prepared by others
Altering Checks Prepared by Others
  • Inserting new payee
  • “Tacking on”
preventing and detecting altered company checks
Preventing and Detecting Altered Company Checks
  • Separation of duties
  • Check the canceled check versus book entry
concealed check schemes
Concealed Check Schemes
  • What is it?
  • When does this typically happen?
authorized maker schemes
Authorized Maker Schemes
  • What is it?
  • How is it done?
preventing and detecting check tampering by authorized makers
Preventing and Detecting Check Tampering by Authorized Makers
  • Check signer
  • Separation of duties
  • Dual signatures
  • Vendor lists
concealing check tampering
Concealing Check Tampering
  • Tough to do!!
  • What could happen?
concealing check tampering31
Concealing Check Tampering
  • bank reconciliation
  • Re-alteration of checks
  • Falsifying the disbursements journal
  • Reissuing intercepted checks
  • Bogus supporting documents