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Cash Larceny

Cash Larceny. Pop Quiz. What is the difference between larceny and skimming?. Larceny. Of Cash on Hand. From the Deposit. Other. Cash Larceny. Intentional Fraudulent Cash receipt. Frequency – Cash Misappropriations. Median Loss – Cash Misappropriations.

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Cash Larceny

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Presentation Transcript

  1. Cash Larceny

  2. Pop Quiz What is the difference between larceny and skimming?

  3. Larceny Of Cash on Hand From the Deposit Other

  4. Cash Larceny • Intentional • Fraudulent • Cash receipt

  5. Frequency – Cash Misappropriations

  6. Median Loss – Cash Misappropriations

  7. Dollar Loss Distribution – Cash Larceny Schemes

  8. Detection of Cash Larceny Schemes

  9. Perpetrators of Cash Larceny Schemes

  10. Median Loss by Position

  11. Size of Victim

  12. Median Loss - Size of Victim

  13. Cash Larceny Schemes • Access to cash • Point of sale • Receivables • Bank deposits

  14. Larceny At The Point of Sale • Most common • Result?

  15. Larceny Schemes • From other registers • Tiny amounts • Reversing transactions • Alteration • Destruction

  16. Preventing and Detecting Cash Larceny at the Point of Sale • Separation of duties • Independent checks • Control of cash • Discrepancies • Periodic reports

  17. Larceny of Receivables • When does the theft occur? • How is it hidden? • Force balancing • Reversing entries • Destruction of records

  18. Cash Larceny From The Deposit • When/how does this happen? • How can it be stopped? • Having controls such as matching the receipted deposit slip to the originally prepared slip? • Reconcile slips? • Security over the deposit before it goes to the bank?

  19. Cash Larceny From The Deposit • Types • Deposit lapping • Deposits in transit

  20. Preventing and Detecting –Cash Larceny From The Deposit • Separation of duties • Centralization • Comparison • Night drop deposits

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