Bank Directors Seminar, Coeur d'Alene, ID

11/09/2018

Fraud Schemes in Financial Institutions

FREQUENCYOF SCHEME

SCHEME

Corruption

36% 23% 14% 12% 11% 11%

Cash on Hand Cash Larceny

Check Tampering

Non-Cash

Billing

Skimming

9% 8% 7% 3% 2%

Financial Statement Fraud Expense Reimbursements Register Disbursements

Payroll

2018ACFE Report to the Nations

Key Learning Points

• Most common schemes in banks include: • Skimmingof incoming funds • Unauthorized use of checking or credit card accounts • Overpayment of payroll • The #1 fraud detection method is a whistleblower tip • Whistleblowers are afraid to say something for fear of retribution

Logo here

Fraud Prevention “It’s cheaper to take my advice as your instructor than it is as your forensic accountant.” ~Tiffany Couch

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