CFCI STUDY GUIDE EXAM GRADED A+
100% GUARANTEED SUCCESS.
Fraud ANS >>> “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 ANS >>> Internal Fraud and External Fraud
Internal Fraud ANS >>> which involves the employees of the
company against which the fraud is perpetrated
External Fraud ANS >>> deceptive conduct by non-employees that
deprives the organization of value, and/or is undertaken for
financial gain.
,embezzlement ANS >>> theft or misappropriation of funds placed
in one's trust or belonging to one's employer.
financial fraud ANS >>> “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) ANS >>> Accounts receivable fraud, this
involves simply stealing cash before it enters the organization's
accounting system.
Billing Schemes ANS >>> 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 ANS >>> taking advantage of employee access to
blank company checks, using a password to
steal computer-generated checks, or producing counterfeit
checks.
, Employee reimbursement scheme ANS >>> making false claims for
reimbursement, or inflating or creating fictitious business
expenses. (Travel /meal reimbursement.
corruption ANS >>> Bribery, illegal gratuities, and/or extortion.
bribery ANS >>> when something of value is offered or given to
influence a business decision
Illegal Gratuities ANS >>> when something of value is given to an
employee to reward a business decision.
Extortion ANS >>> when a person demands payment or seeks to
influence a business decision by threat of harm through loss of
business or personal injury.
Kickback Schemes ANS >>> involving employees and vendors,
often using inflated billing or invoices for which the employee is
paid a portion of the inflated or fictitious invoice.
credit card fraud ANS >>> the creation, sale, or use of a counterfeit
credit card, or the use of a stolen credit or debit card.
100% GUARANTEED SUCCESS.
Fraud ANS >>> “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 ANS >>> Internal Fraud and External Fraud
Internal Fraud ANS >>> which involves the employees of the
company against which the fraud is perpetrated
External Fraud ANS >>> deceptive conduct by non-employees that
deprives the organization of value, and/or is undertaken for
financial gain.
,embezzlement ANS >>> theft or misappropriation of funds placed
in one's trust or belonging to one's employer.
financial fraud ANS >>> “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) ANS >>> Accounts receivable fraud, this
involves simply stealing cash before it enters the organization's
accounting system.
Billing Schemes ANS >>> 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 ANS >>> taking advantage of employee access to
blank company checks, using a password to
steal computer-generated checks, or producing counterfeit
checks.
, Employee reimbursement scheme ANS >>> making false claims for
reimbursement, or inflating or creating fictitious business
expenses. (Travel /meal reimbursement.
corruption ANS >>> Bribery, illegal gratuities, and/or extortion.
bribery ANS >>> when something of value is offered or given to
influence a business decision
Illegal Gratuities ANS >>> when something of value is given to an
employee to reward a business decision.
Extortion ANS >>> when a person demands payment or seeks to
influence a business decision by threat of harm through loss of
business or personal injury.
Kickback Schemes ANS >>> involving employees and vendors,
often using inflated billing or invoices for which the employee is
paid a portion of the inflated or fictitious invoice.
credit card fraud ANS >>> the creation, sale, or use of a counterfeit
credit card, or the use of a stolen credit or debit card.
