CASH RISK ASSESSMENT

1. CASH RISK ASSESSMENT

2. Overview

3. Fraud Common in Workplaces • Occupational fraud is the use of ones occupation for personal enrichment through misuse of the employing organizations resources. • Nearly 75% of all companies from around the world suffer from fraud • 85% of the worst frauds reported were committed by company employees • Small business suffer higher fraud losses than large organizations Cash Risk Assessment

4. Cash fraud is more common • Fraudsters most often target currency, check and money order • * Data from ACFE Report to the Nation on Occupational Fraud & Abuse Cash Risk Assessment

5. Skimming Cash Risk Assessment • Scheme in which cash is stolen before it is recorded on the organization’s books and records. • Employee accepts payment from a customer but does not record the sale

6. Cash Larceny Cash Risk Assessment • Scheme in which cash is stolen from an organization after it has been recorded on the organization’s books and records. • Employee steals from daily receipts before they can be deposited in bank

7. Billing Cash Risk Assessment • Scheme in which a person steals his/her employer to issue payment by submitting invoices for fictitious goods/services, inflated invoices or invoices for personal purchases. • Employee purchases personal items, submits invoice for payment.

8. Reimbursements Cash Risk Assessment • Scheme in which an employee makes a claim for reimbursement of fictitious or inflated business expenses. • Employee files fraudulent expense report, claiming personal travel, nonexistent meals, etc.,

9. Check Tampering Cash Risk Assessment • Scheme in which a person steals his/her employer’s funds by forging/altering a check on one of the organization’s back account, or steals a check the organization has issued to another payee. • Employee steals blank checks, makes them out to himself/an accomplice.

10. Payroll Cash Risk Assessment • Scheme in which an employee causes his/her employer to issue a payment by making false claims for compensation. • Employee claims over-time for un-worked hours • Employee adds ghost employees to the payroll

11. Wire Transfers Cash Risk Assessment • Scheme in which a person steals his/her employer’s funds by fraudulently wire transferring them out of the employer’s bank accounts. • Employee causes funds to be wired from company bank accounts to an account controlled by employee or accomplice

12. Disbursements Cash Risk Assessment • Scheme in which an Employee makes false entries on a cash register to conceal the fraudulent removal of cash. • Employee fraudulently voids a sale on his cash register and steals the cash.

13. When fraud happens Cash Risk Assessment

14. How fraud is detected Cash Risk Assessment

15. Our Approach Cash Risk Assessment

16. “STALL” Approach - Structure Cash Risk Assessment

17. “STALL” Approach - Train Cash Risk Assessment

18. “STALL” Approach - Assess Cash Risk Assessment

19. Risk Assessment Report Cash Risk Assessment

20. Risk Assessment Model Cash Risk Assessment

21. Risk Assessment Report Cash Risk Assessment

22. “STALL” Approach – Learn Cash Risk Assessment

23. “STALL” Approach – Listen Cash Risk Assessment

24. Our Service Cash Risk Assessment

25. Get in touch today: Phone: (044) 28362531 / 32 / 33Email : lionel@verveindia.comWeb : http://www.verveindia.com