2024 Cfci Study Guide Exam With Actual Questions And Complete 100%Correct Answers With Verified And Well Explained Rationales Already Graded A+ By Experts |Latest Version 2024 With Guaranteed Success After Download Already Passed!!!!!!! (Proven Its All

2024 CFCI STUDY GUIDE EXAM WITH ACTUAL QUESTIONS AND COMPLETE 100%CORRECT ANSWERS WITH VERIFIED AND WELL EXPLAINED RATIONALES ALREADY GRADED A+ BY EXPERTS |LATEST VERSION 2024 WITH GUARANTEED SUCCESS AFTER DOWNLOAD ALREADY PASSED!!!!!!! (PROVEN ITS ALL YOU NEED TO EXCEL IN YOUR EXAMS Loans to phantom borrowers Start of chpt 4 Internal fraud where an employee can submit a fictitious loan to a loan officer of the same company. Loan Lapping (aka accounts payable fraud) the fraudster will make loan payments from funds received from subsequently closed or older fraudulent loans in a form of loan lapping scheme. pg 36 Nominee or straw borrowers "A third-party"or "nominee" loan is a loan in the name of one party that is intended for use by another. In other words, a persons PII is used with permission to secure a loan for someone who would not qualify, thus circumventing the system. Kickback on Illegal loans A bank insider is induced to approve a loan to a non-credit worthy borrower, where the borrowers agrees to give something of value to the banker to approve the loan. Fraud "Any illegal acts characterized by 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." Main types of fraud Internal Fraud and External Fraud Internal Fraud which involves the employees of the company against which the fraud is perpetrated External Fraud deceptive conduct by non-employees that deprives the organization of value, and/or is undertaken for financial gain. embezzlement theft or misappropriation of funds placed in one's trust or belonging to one's employer. financial fraud "cooking the books." This type of 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. Skimming (cash larceny) Accounts receivable fraud, this involves simply stealing cash before it enters the organization's accounting system. Billing Schemes Perpetrated by employees who 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. check tampering taking advantage of employee access to blank company checks, using a password to steal computer-generated checks, or producing counterfeit checks. Employee reimbursement scheme making false claims for reimbursement, or inflating or creating fictitious business expenses. (Travel /meal reimbursement. corruption Bribery, illegal gratuities, and/or extortion. bribery when something of value is offered or given to influence