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Background on Fraudulent Schemes

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Would you be able to help me to provide background on different fraudulent schemes?

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Solution Summary

Discusses fraudulent schemes.

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Let's consider the following information:

1. Misappropriation of Assets

- Involve the theft or misuse of an organization's assets.
- Common examples include employees skimming revenues (theft of cash from a victim entity prior to its entry in an accounting system)., stealing inventory, equipment, supplies or information, and payroll fraud. (business.illinois.edu/alumni/roundtable/docs/​DeepDiveNekrasz.ppt)
- This is the most common. In a study by ACDE (2002 and 2004) misappropriation accounted for 77.9%, corruption for 14.3% and fraudulent statements for 7.8%. (http://www.acfe.com/fraud/report.asp)

2. Corruption

- Fraudsters wrongfully use their ...

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