Fraud Personnel Policies & Basic Internal Controls
This procedure consists of work done by one person and verified by another
Dual Control
Who receives reports of suspected external/internal fraud?
Corporate Security Officer and/or HR Manager
What may indicate a caller is attempting fraudulent activity?
Caller cannot provide account number, calling to request online access but cannot provide ID information, calling to verify low dollar amount, repeatedly calling to verify funds with changing dollar amounts.
True or False, if a merchant is calling to verify funds, and the account is closed, we can indicate such.
True. But we cannot provide the date it was closed.
Who was the first woman to fly solo across the Atlantic Ocean?
Amelia Earhart
Procedure whereby the processing of a transaction occurs under the direct observation of a second person.
Joint Custody
What is the proper response to any inquiry about an ongoing investigation?
"I am not at liberty to discuss this matter."
If a customer is calling to obtain account information, what is the first thing we should try to obtain?
Security Password
True. But that is the only thing we verify. Do not provide phone numbers, SSN or Tax ID #'s, DOB, email, or account # attached to card.
If you tipped 20% on a $15 bill, how much would the tip be?
$3.00
These three "check" procedures take places during the hiring process to prevent hiring people who are likely to commit a crime.
Credit Check, Reference Check, Criminal Background Check
The reporting individual should not do these two things.
Contact the suspected individual in an effort to get facts or restitution, discuss the case with anyone unless specifically asked to do so by security officer.
If the customer cannot provide the security password or doesn't have one, you must obtain all of the following information:
1. Last 5 of SSN
2. DOB
3. Current Street Address
4. ACH info, DL # OR # of accounts with the bank
A check vendor calling to verify information should be able to provide these three things.
Customer's name, account number, and address on file.
Banksy is an artist known for working with which medium?
Graffiti
These two things prevent an existing employee from committing fraud.
Adequate compensation, Mandatory 5 day off policy
See section IV. in policy
True or false, if a merchant is calling to verify if a check has cleared and the customer is on the phone with the merchant, we provide the information they are requestion.
False. The customer is to be called back and the customer must be the one to have the merchant conferenced in.
If a check vendor provides the necessary verification information, what procedure should be followed?
Call Back procedure
What is pi, written out to 5 decimal places?
3.14159
What is the name of the resource employees have to anonymously report suspected irregularities or improprieties?
Silent Whistle
Every action an employee takes is subject to _____ by another employee.
Audit
If a merchant is calling to verify funds, they should be directed which telephone number?
Express Banking 1-888-873-9777
If a bookkeeper is calling for information but is not a signer on the account, what two steps should be followed?
Account owner provides authorization every time a request is made, refer the account owner to a cash management officer for a free cash management plan for online access.
What does the raven say in Edgar Allen Poe's "The Raven"?
Nevermore.