Quiz 6 - Question 1 3 out of 3 points What is the...

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Question 1 3 out of 3 points What is the difference between a forged maker and a forged endorsement scheme? Answer Selected Answer: A forged maker is the person who signs the check is the preparer. It is where an employee steaks a company check and signs another person's name with fraudulent intent. Thus, the perpetrator becomes the maker and forges an authorized signature to the check. Forged endorsement is where the perpetrator intercepts a check made out to a third part and falsely endorses it. Unlike a forged make, in a forged endorsement the check has already been written. Correct Answer: A forged maker scheme is one in which an employee of a company steals a valid check from that company and signs the check in the authorized maker's signature. employee intercepts a check to a vendor or other third-party and endorses the check by signing the third-party's name on the check. Response Feedback: [None Given] Question 2 2 out of 3 points Describe the five principal methods used to commit check tampering. Answer Selected Answer: Forged maker schemes Forged endorsement Altered payee schemes Concealed checks schemes Authorized maker schemes Correct Answer: The five principal methods used to commit check tampering are as follows:
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(1). Forged Maker Schemes. check and signs another person's name with fraudulent intent. The perpetrator becomes the maker and forges an authorized signature to the check, uses his own or fake identification to convert the check, and, (2). Forged Endorsement Schemes. check made out to a third party and falsely endorses it, then, pockets the proceeds. (3). Altered Payee Schemes. In this scheme, checks may be altered by inserting a new payee. original payee. process by matching all bank statement items to canceled checks. (4). Concealed Check Schemes. fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without proper review. (5). Authorized Maker Schemes.
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This note was uploaded on 11/11/2011 for the course FRAUD 101 taught by Professor ? during the Spring '11 term at Post.

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Quiz 6 - Question 1 3 out of 3 points What is the...

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