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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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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 Register Disbursements
Median Loss of Fraudulent Disbursements Register Disbursements
Median Loss by Number of Employees – Register Disbursement Schemes
Register Disbursement Schemes • False refunds • False voids
Refunds • Customer returns item • Merchandise returned to inventory • Purchase price returned to customer
False Refunds • Fictitious refunds • Cash taken from register • Inventory debited • Overstated refunds • Skims excess money • Customer paid actual amount
False Refunds • Credit card refunds • Refunds = credits to the customer’s credit card • But . . . refunded to the perpetrator’s credit card
False Voids • Register disbursement • Customer receipt attached to void • Management approval • Rubber stamp? • Conspiracy
Concealing Register Disbursements • No effort to conceal • Books are in balance • No further action
Concealing Register Disbursements • Small disbursements • Destroying records
Preventing and Detecting Register Disbursement Schemes • Separation of duties • Management approval • Control access • Restrict cashiers
Preventing and Detecting Register Disbursement Schemes • Proper documentation • Login codes • Reports of reversing transactions
Preventing and Detecting Register Disbursement Schemes • Approval amount • Policies • Randomly call customers