CFCI Study Guide EXAM Questions & Answers,
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Terms in this set (136)
"Any illegal acts characterized by Fraud
deceit, concealment, or violation of
trust. These acts are not dependent
upon the perpetrated by individuals
and organizations to obtain money,
property, or services; to avoid
payment or loss of services; or to
secure personal or business ad-
vantage."
Internal Fraud and External Fraud Main types of fraud
which involves the employees of Internal Fraud
the company against which the
fraud is perpetrated
deceptive conduct by non- External Fraud
employees that
deprives the organization of value,
and/or is undertaken for financial
gain.
,theft or misappropriation of funds embezzlement
placed in one's trust or belonging
to one's employer.
"cooking the books." This type of financial fraud
fraud generally refers to falsely
representing the financial condition
of the company, so as to inflate the
value of stock, fraudulently boost
executive bonuses, or otherwise
mislead shareholders, lenders,
employees, investment analysts, or
other users of the information.
Accounts receivable fraud, this Skimming (cash larceny)
involves simply stealing cash before
it enters the organization's
accounting system.
Perpetrated by employees who Billing Schemes
cause their employer to issue a
payment to a false supplier by
submitting invoices for fictitious
goods or services, inflated invoices,
or invoices for personal purchases.
taking advantage of employee check tampering
access to blank company checks,
using a password to
steal computer-generated checks,
or producing counterfeit checks.
making false claims for Employee reimbursement scheme
reimbursement, or inflating or
creating fictitious business
expenses. (Travel /meal
reimbursement.
, Bribery, illegal gratuities, and/or corruption
extortion.
when something of value is offered bribery
or given to influence a business
decision
when something of value is given to Illegal Gratuities
an employee to reward a business
decision.
when a person demands payment Extortion
or seeks to influence a business
decision by threat of harm through
loss of business or personal injury.
involving employees and vendors, Kickback Schemes
often using inflated billing or
invoices for which the employee is
paid a portion of the inflated or
fictitious invoice.
the creation, sale, or use of a credit card fraud
counterfeit credit card, or the use
of a stolen credit or debit card.
Card not present transactions C.N.P
involves the unauthorized use of identity fraud
another person's personal data for
illegal financial benefit. Involves
abusing the stolen information to
transact personal business in the
victim's name.
Well Elaborated | Already Verified Test |100%
Verified solutions |2026 Latest!!
Save
Terms in this set (136)
"Any illegal acts characterized by Fraud
deceit, concealment, or violation of
trust. These acts are not dependent
upon the perpetrated by individuals
and organizations to obtain money,
property, or services; to avoid
payment or loss of services; or to
secure personal or business ad-
vantage."
Internal Fraud and External Fraud Main types of fraud
which involves the employees of Internal Fraud
the company against which the
fraud is perpetrated
deceptive conduct by non- External Fraud
employees that
deprives the organization of value,
and/or is undertaken for financial
gain.
,theft or misappropriation of funds embezzlement
placed in one's trust or belonging
to one's employer.
"cooking the books." This type of financial fraud
fraud generally refers to falsely
representing the financial condition
of the company, so as to inflate the
value of stock, fraudulently boost
executive bonuses, or otherwise
mislead shareholders, lenders,
employees, investment analysts, or
other users of the information.
Accounts receivable fraud, this Skimming (cash larceny)
involves simply stealing cash before
it enters the organization's
accounting system.
Perpetrated by employees who Billing Schemes
cause their employer to issue a
payment to a false supplier by
submitting invoices for fictitious
goods or services, inflated invoices,
or invoices for personal purchases.
taking advantage of employee check tampering
access to blank company checks,
using a password to
steal computer-generated checks,
or producing counterfeit checks.
making false claims for Employee reimbursement scheme
reimbursement, or inflating or
creating fictitious business
expenses. (Travel /meal
reimbursement.
, Bribery, illegal gratuities, and/or corruption
extortion.
when something of value is offered bribery
or given to influence a business
decision
when something of value is given to Illegal Gratuities
an employee to reward a business
decision.
when a person demands payment Extortion
or seeks to influence a business
decision by threat of harm through
loss of business or personal injury.
involving employees and vendors, Kickback Schemes
often using inflated billing or
invoices for which the employee is
paid a portion of the inflated or
fictitious invoice.
the creation, sale, or use of a credit card fraud
counterfeit credit card, or the use
of a stolen credit or debit card.
Card not present transactions C.N.P
involves the unauthorized use of identity fraud
another person's personal data for
illegal financial benefit. Involves
abusing the stolen information to
transact personal business in the
victim's name.
