Mostfraudgoesundetected fraudisusuallywellconcealed

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Unformatted text preview: ealment Concealment is equivalent to falsification of fact and accordingly may be a kind of fraud. Misappropriation Misappropriation Dealing dishonestly with the fund entrusted. Myths About Fraud Myths About Fraud Only certain types of people will commit fraud. Most fraud goes undetected. Fraud is usually well concealed. Signatures Signatures Almost every human being has his own unique Signatures Forgery in Signatures Forgery in Signatures Modes of forgery in signatures Disguised signature Non altered signatures Signature by trickery Disguised Signature Disguised Signature Customer intentionally signs in a different style and subsequently denies that it was not his signature. Non Altered Signatures Non Altered Signatures The forgers in his own handwriting writes signature of the Victim Signature by Trickery Signature by Trickery Genuine signature is obtained by false representation on blank paper including blank cheque, blank documents. Forgery in Signatures Forgery in Signatures Categories of Fraud Categories of Fraud Internal Fraud Internal Fraud Fraud committed by individuals inside the organization and is most often carried out by staff who have access to liquid or moveable assets, such as cash or stocks. External Fraud External Fraud Fraud which is committed by individuals outside the organization and covers activities such as theft, deception and computer hacking. Collusion fraud Collusion fraud It involves two or more parties, either both internal, or internal and external, working together. Types of Fraud Types of Fraud Common Types Of Fraud Common Types Of Fraud Insurance fraud Accounting fraud Credit Card fraud purchases, investment scams Internet online scams auctions, credit card Types Of Fraud Types Of Fraud On the basis of victim involved Investors Creditors Businesses Central or local government Banks or other financial institutions Types Of Fraud On the basis of technique/activity Corruption Bogus invoices Advance fee frauds Counterfeiting, forgery, or copyright abuse Computer hacking of information/property Types of Fraud Misappropriation of assets Mortgage Fraud Advance money Credit Payroll fraud Credit Card fraud Types of Fraud Misappropriation of assets Types of Fraud Mortgage Fraud Advance money Cred...
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