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Register Disbursement Schemes

Register Disbursement Schemes. According to the 2004 National Fraud Survey, register disbursement schemes have a higher median loss than payroll schemes. True or false?. Pop Quiz. Register Disbursements. False Voids. False Refunds. Frequency of Fraudulent Disbursements.

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Register Disbursement Schemes

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  1. Register Disbursement Schemes

  2. According to the 2004 National Fraud Survey, register disbursement schemes have a higher median loss than payroll schemes. True or false? Pop Quiz

  3. Register Disbursements False Voids False Refunds

  4. Frequency of Fraudulent Disbursements Register Disbursements

  5. Median Loss of Fraudulent Disbursements Register Disbursements

  6. Dollar Loss Distribution for Register Disbursement Schemes

  7. Detection of Register Disbursement Schemes

  8. Perpetrators of Register Disbursement Schemes

  9. Median Loss by Perpetrator –Register Disbursement Schemes

  10. Size of Victim – Register Disbursement Schemes

  11. Median Loss by Number of Employees – Register Disbursement Schemes

  12. Register Disbursement Schemes • False refunds • False voids

  13. Refunds • Customer returns item • Merchandise returned to inventory • Purchase price returned to customer

  14. False Refunds • Fictitious refunds • Cash taken from register • Inventory debited • Overstated refunds • Skims excess money • Customer paid actual amount

  15. False Refunds • Credit card refunds • Refunds = credits to the customer’s credit card • But . . . refunded to the perpetrator’s credit card

  16. False Voids • Register disbursement • Customer receipt attached to void • Management approval • Rubber stamp? • Conspiracy

  17. Concealing Register Disbursements • No effort to conceal • Books are in balance • No further action

  18. Concealing Register Disbursements • Small disbursements • Destroying records

  19. Preventing and Detecting Register Disbursement Schemes • Separation of duties • Management approval • Control access • Restrict cashiers

  20. Preventing and Detecting Register Disbursement Schemes • Proper documentation • Login codes • Reports of reversing transactions

  21. Preventing and Detecting Register Disbursement Schemes • Approval amount • Policies • Randomly call customers

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