Asset misappropriation schemes make up more than half of all occupational fraud schemes, according to the Association of Certified Fraud Examiners. It’s a broad category that includes everything from skimming cash to stealing inventory to paying “ghost” employees. One hotspot for asset misappropriation is the accounts receivables department, where dishonest staffers could potentially divert customer
lapping Archives - Crawford Ellenbogen
Aug 22, 2023
Jan 16, 2019
Stop receivables fraud before it starts
- By Ellenbogen
- Business, Fraud
- 0 Comments
From invoices and payments to discounts and write-offs, many business transactions are recorded to accounts receivable. This makes receivables a popular fraud target. But your business doesn’t have to become a victim. Common schemes Receivables fraud occurs when dishonest employees divert customer payments for their personal use. They use various methods, including: Lapping. This is