FRAUD FACTS
Lying for money
What is fraud?
The most common type of occupational fraud
What is asset misappropriation?
Cash stolen before recording in the books
What is skimming?
Institutions of higher education are frequent victims of this email-based fraud
What is phishing?
These should never be shared
What are passwords?
The use of one's occupation for personal enrichment through the deliberate misuse of the organization's resources
What is Occupational Fraud?
A majority of victims recover this
What is nothing?
Cash stolen after recording in the books
What is larceny?
Falsified research data is an example of this type of fraud
What is academic fraud?
These should be segregated so that no one person has complete control of a process
What are duties or responsibilities?
Invoice fraud is an example of what type of fraud?
What is external fraud?
Occupational fraudsters are generally this type of offender
What are first time offenders?
Inadequate supervision is an element of this side of the Fraud Triangle
What is opportunity?
These types of p-card purchases are not allowable
What are personal purchases?
An expensive lifestyle and never taking vacations are examples of these
What are red flags?
Most frauds are committed by this gender
What is male?
Steps taken to obtain reasonable assurance that objectives are met
What are internal controls?
Financial need is an element of this side of the Fraud Triangle
What is Pressure/Motive?
In the admissions scam, people were paid to either take these tests or correct the student's answers
What are standardized tests?
These should be conducted on a surprise basis
What are cash counts?
The most common initial detection method
What are tips?
Weaknesses that contribute to fraud
What are internal control weaknesses
"I'm underpaid" is an example of this side of the Fraud Triangle
What is rationalization?
This email scam targets specific individuals
What is spear phishing?
These codes restrict allowable purchases made using credit cards
What are merchant codes?