Oh so naughty
What is Enron?
Someone asking themselves a question like, "What will my family think if they find out?" When weighing the ethics of a choice is an example of this theory.
What is social control theory?
This disgraced American financier was arrested in December 2008 for running a Ponzi Scheme estimated to be worth nearly $65B.
Who is Bernie Madoff?
According to the ACFE's Occupational Fraud 2022: A Report to the Nations, this was the most common way fraud was detected.
What are tips?
This type of fraud targets groups of people who have some social connection, like a religion or cultural background.
What is affinity fraud?
This type of scheme is illegal if it emphasizes recruitment over product sales and promises that money can only be made through recruitment.
What is a pyramid scheme?
This term is broadly used to describe the oversight responsibilities of different parties for an organization's direction, operations, and performance.
What is corporate governance?
If the distribution of digits in multi-digit natural numbers do not follow a predictable pattern, it may be an indicator of fraud since it violates this law.
What is Bedford's Law?
Establishing this, or common ground, with a respondent is an important first step in interviews.
What is rapport?
This scheme, also known as "off-book" fraud, occurs when cash is removed from a victim entity prior to its entry in an accounting system.
What is skimming?
According to the ACFE's Occupational Fraud 2022: A Report to the Nations, organizations that had this anti-fraud control in place saw a 54% reduction in the median loss per fraud case.
What is job rotation or mandatory vacation?
Emails, videos, text messages, user documents and presentations are all examples of this type of data that can be analyzed with textual analysis.
What is unstructured data?
According to the ACFE's Occupational Fraud 2022: A Report to the Nations, "median losses" nearly doubles in organizations that did not have this detection method established.
What are hotlines or whistle blower lines?
When using data analytics, these types of tests are used to identify missing items in a sequence or series.
What are gap tests?
This type of fraud scheme involves layering, placement and integration.
What is money laundering?
Infamous conman Frank Abagnale Jr. had his frauds immortalized in this 2002 movie.
What is "Catch me if you can?"
This describes the type of risk that remains after internal controls are account for.
What is residual risk?
This tracing method can be used to prove illicit income circumstantially by showing that a person's assets, or expenditures, exceed what can be accounted for from legitimate sources of income.
What is the net-worth method?
This hypothesis, created by Dr. Donald Cressey in the 1950s, identifies three components which, when combined, can lead to fraudulent behavior.
What is "the fraud triangle"?
Of the three primary categories of occupational fraud of the "fraud tree", these schemes tend to cause the largest losses.
What is financial statement fraud?
George C. Parker was an American conman best known for his surprisingly successful attempt to sell this New York City landmark.
What is the Brooklyn Bridge?
Evaluating the likelihood and significance of specific fraud schemes is a key component of performing what type of engagement?
What is a fraud risk assessment?
This is the totality of circumstances that would lead a reasonable professionally trained and prudent individual to believe that a fraud has occurred, is occurring, or will occur.
What is predication?