Question: Forged endorsement schemes and altered payee schemes both involve the
`Forged endorsement schemes and altered payee schemes both involve the theft of outgoing checks that are intended for third parties for some legitimate purpose (e.g., a check payable to a vendor for services rendered). In this respect, these schemes differ from other forms of check tampering, in which the check is usually drafted by the perpetrator for a fraudulent purpose. Discuss how this distinction affects the way in which forged endorsement and altered payee schemes must be concealed.
Relevant QuestionsIn altered payee schemes, the perpetrator changes the name of the intended third party and negotiates the check himself. This can be done by adding a second payee or changing the original payee’s name. What is the best ...There are four steps that must be completed in order for a ghost employee scheme to be successful. What are they? The ability to add ghost employees to a company’s payroll system is often the result of a breakdown in internal controls. What internal controls prevent an individual from adding fictitious employees to payroll records? How is a multiple reimbursement scheme committed? What is the difference between a fictitious refund scheme and an overstated refund scheme?
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