What's the scheme?
Illegally concealing the origin of money.
What is money laundering?
Drawing an insufficient check on one account to deposit into another.
What is kiting?
Dixon, Illinois
Who is Rita Crundwell?
Inventor of the Fraud Triangle
Who is Donald Cressey?
Auditing Standard that requires fraud brainstorming?
What is SAS 99?
Theft of cash.
What is larceny?
Misappropriating (stealing) money from your company.
What is embezzlement?
King of the Ponzi Scheme
Who is Bernie Madoff?
3 legs of the Fraud Triangle
What is opportunity, rationalization, and pressure?
Subcommittee of board of directors that oversees internal control.
What is Audit Committee?
Scheme to inflate sales or revenues, using before year end.
What is channel stuffing?
Bribery and corporation fall under this fraud category.
What is corruption?
Catch Me If You Can
Who is Frank Abagnale?
Additional factor on the fraud diamond.
What is capability or capacity?
Persons responsible for accuracy of financial statements.
Who is management?
The purposeful intervention in the financial reporting process for personal gain.
What is earnings management?
Double billing and shell companies, for example.
What is accounts payable fraud?
Theranos
Who is Elizabeth Holmes?
Includes personal greed and employee disenfranchisement.
What is the Fraud Pentagon?
The basis for undertaking a fraud investigation.
What is predication?
An improper revenuer recognition scheme where product is sold but shipped later.
What is bill and hold?
Robbing Peter to pay Paul.
What is lapping?
Crazy Eddie
Who is Eddie Antar?
Large amounts of cash on hand presents this.
What is opportunity?
Biggest effect of fraud on an organization.
What is employee morale?