The Perfect Crime.doc - The Perfect Crime Embezzlers often...

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The Perfect Crime. Embezzlers often try to cover up by removing canceled checks they made payable to themselves or endorsed on the back with their own names. Missing canceled checks are a signal (red flag). However, people who reconcile bank accounts may not notice missing checks if the bank reconciliation is performed using only the numerical listing printed in the bank statement. Now consider the case of truncated bank statements for which the bank does not even return the canceled checks to the payer. All the checks are “missing”, and the bank reconciler has no opportunity to notice anything about canceled checks. Consider the following story of a real embezzlement. The embezzler hired a print shop to print a private stock of Ajax Company checks in the company’s numerical sequence. In his job as an accounts payable clerk, he intercepted legitimate checks written by the accounts payable department and signed by the Ajax treasurer and then destroyed them.
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