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Understanding Fraud: Impact, Classifications, and Prevention Strategies

Explore the seriousness of fraud, its costs, impacts, and classifications. Learn about different types of fraud like employee embezzlement, management fraud, and investment scams. Discover the nature of vendor fraud, customer fraud, and how to prevent fraud in various organizations.

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Understanding Fraud: Impact, Classifications, and Prevention Strategies

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  1. FRAUD EXAMINATIONALBRECHT & ALBRECHT THE NATURE OF FRAUD CHAPTER 1

  2. Describe the Seriousness of Fraud

  3. What are the estimated costs and impacts of fraud?

  4. Explain how $1.00 in fraud represents $1.00 lost profits.

  5. What it is What it isn’t Define fraudWhat it is and what it isn’t.

  6. Why are we so often conned?

  7. Classify frauds and give an example of each

  8. List keys to occupational fraud and define

  9. Complete this chart

  10. Differentiate between direct and indirect embezzlement

  11. What are the two types of vendor fraud? Define Collusion

  12. Explain what customer fraud is.

  13. Employee embezzlement Management fraud Investment scams Vendor fraud Customer fraud ACFE Association of Certified Fraud Examiners Employees taking employers assets Overcharge for goods, or ship inferior goods Selling worthless investments to unsuspecting investors Manipulation of financial statements by management Getting something for nothing, not paying for goods & services Match terms to definitions

  14. FRAUD IS A CRIME

  15. Differentiate between criminal and civil responses to fraud

  16. Complete the Chart of Fraud Careers

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