FRAUD FACTS
Lying for money
What is fraud?
An illegal business practice in which new investors' money is used to make payments to earlier investors
What is a Ponzi scheme?
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?
Most frauds are committed by this gender.
What is male?
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?
Paying money to coaches is an example of this type of corruption
What is bribery?
She was convicted in the admissions scam
Who is Felicity Huffman?
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?
The mastermind of the admissions scam
Who is Rick Singer?
"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?