Fraud: Focus on Fraudulent Disbursements

The Association of Certified Fraud Examiners (ACFE) has introduced the concept of a fraud tree.  The tree delineates three major categories of fraud as:

• Corruption

• Asset Misappropriation

• Financial Statement Fraud

This course will evaluation the concepts that fall within asset misappropriation and are directly related to the fraudulent disbursements component of the fraud tree.  We will examine the various components of corruption and solutions that can be used to mitigate corruption impacts.

Fraudulent disbursements are the most common form of asset misappropriation. They occur when an employee uses his position of employment to cause a payment for some inappropriate purpose. The fraud tree breaks fraudulent disbursements into the following categories:

• Billing

• Payroll

• Expense reimbursement

• Check tampering

• Register reimbursements 

Each scheme has its unique characteristics depending on the industry the fraudulent act is perpetrated in. This session will delve further into each of these methods and provide possible solutions to mitigate frauds of this type.

This course is brought to you by Illumeo. Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job. Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination. Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.