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Fraud Awareness |
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Occupational Fraud |
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| Billing Schemes | This fraud is designed to cause the business to make a fraudulent payment to the employee, whilst recording the payment as a legitimate business expense in its records. |
| Cheque Theft | Employees may steal cheques as they flow in and out of the business system. |
| Collusion & Bribery | Collusion frauds occur off the books so there are no records to show what happened and no transaction that should have been recorded, but was not. |
| False Employee Claims | False expense claims arise when employees are entitled to incur expenses while performing their duties and be reimbursed for those expenses. |
| Ghost Employees | The aim of the fraud is enter the ghost into the payroll system and have a wage paid to it in a way that can be collected by the fraudster. |
| Inventory Record Fraud | These are frauds that involve the theft of inventory items that are hidden by manipulating the perpetual inventory records. |
| Inventory Sales & Purchases Fraud | These are frauds that involve the theft of inventory items that are hidden by manipulating the records in the sales and purchases processes. |
| Point of Sale Fraud | POS fraud is stealing money when a sale is made - at the Point of Sale. |
| Skimming Debtors | Skimming debtors is the theft of money received from a debtor before it is recorded as received. |
| Skimming Sales | Skimming sales is the theft of money received from a sale of good or service before it is recorded as received. |
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Third Party Fraud |
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| Debt Factoring Frauds | Factoring fraud is a fraud committed against a debt factoring company by one of its customers. |
| Financial Statement Fraud | Financial statement fraud is the manipulation of the information used to prepare the financial statements released to the public and financial institutions. |
| Asset Leasing Fraud | Leasing fraud is committed against a finance company by improperly obtain money by using fictitious leases or other finance arrangements. |
| Ponzi Schemes | A Ponzi scheme is the name given to a wide range of investment frauds that offer a large return on an investment, usually with no real investment of the monies. |
| Pyramid Schemes | These are schemes where participants make payments to another participant based the prospect of receiving payments for the introduction of other persons into the scheme. |
| Vendor Finance Fraud | This is a fraud against the seller (vendor) of an asset who provides finance to the purchaser for the acquisition of that asset. |
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Other Fraud Papers |
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| Fraud against Business | This paper provides information on 6 major topics and cover two main areas of fraud: 1. occupational fraud and 2. third party frauds. |
| CFE Report - 2006 | The 2006 Report on Occupational Fraud produces by the Association of Certified Fraud Examiners. |
| CFE Report - 2004 | The 2004 Report on Occupational Fraud produces by the Association of Certified Fraud Examiners. |
| CFE Report - 2002 | The 2002 Report on Occupational Fraud produces by the Association of Certified Fraud Examiners. |
| COSO Fraud Model | COSO undertook a study into internal fraud controls and produced a model for internal fraud controls that has been widely accepted as a theoretical guideline. |
| Reading List | Texts and References used to base a number of the above Fact Sheets and Insolvency Resource Pages. |
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