Fraudster
Business Fraud
ABSTRACT
WE will attempt to display and define several types of fraud, why employees commit fraud and how they go about. We will discuss what effects fraud has upon the company, the employees and society. We will also look at what the employee can do to aid in reducing fraud. Some preventions will be given along with ways to discover fraud.
TYPES; Identity theft; The illegal use of an individuals personnel identity by another person for financial or material gain. Check fraud; when an employee issues a check without authorization. Embezzlement; stealing money directly from the business, this fraud is usually committed electronicly. Employee fraud; this type of fraud consists of employees taking items from inventory without permission nor payment. Credit Card fraud; this is the theft of or fraudulent use of a company credit cards. Electronic fraud; this a relatively new type of fraud. Using electronic fraud you can manipulate databases to say what you want them to. You can move any amount of money or goods around, you transfer a $100.00 to a million dollars or a warehouse in just seconds. Electronic fraud is fast becoming the preferred method of committing fraud. Asset Misappropriation; this is the most common type of fraud. It is the most common type of fraud but the last expensive. This fraud includes; check forgery, direct theft of money, payroll fraud, where employees bill the company for hours not worked or trips not taken or padding the expense account, inventory fraud is when the employees take items from inventory for their personnel use or for resale without permission or the thefts of services, pest control, lawn, termite control, plumbing repairs on their homes or someone else, or charging less then the stated rate and pocketing the
ABSTRACT
WE will attempt to display and define several types of fraud, why employees commit fraud and how they go about. We will discuss what effects fraud has upon the company, the employees and society. We will also look at what the employee can do to aid in reducing fraud. Some preventions will be given along with ways to discover fraud.
TYPES; Identity theft; The illegal use of an individuals personnel identity by another person for financial or material gain. Check fraud; when an employee issues a check without authorization. Embezzlement; stealing money directly from the business, this fraud is usually committed electronicly. Employee fraud; this type of fraud consists of employees taking items from inventory without permission nor payment. Credit Card fraud; this is the theft of or fraudulent use of a company credit cards. Electronic fraud; this a relatively new type of fraud. Using electronic fraud you can manipulate databases to say what you want them to. You can move any amount of money or goods around, you transfer a $100.00 to a million dollars or a warehouse in just seconds. Electronic fraud is fast becoming the preferred method of committing fraud. Asset Misappropriation; this is the most common type of fraud. It is the most common type of fraud but the last expensive. This fraud includes; check forgery, direct theft of money, payroll fraud, where employees bill the company for hours not worked or trips not taken or padding the expense account, inventory fraud is when the employees take items from inventory for their personnel use or for resale without permission or the thefts of services, pest control, lawn, termite control, plumbing repairs on their homes or someone else, or charging less then the stated rate and pocketing the