What are the different types of control fraud?
Check Fraud is an illegal crime that can take place in many different ways. Some schemes that qualify as control fraud are very simple, while others are much more complex. Here are some examples of different types of control with control and how they work. For example, the account owner writes a check of thousands of US dollars (USD), who uses the recipient of the inspection to change the check so that the amount due becomes $ 10,000. Because the inspection is an identifiable original account holder and the authorization signature is obviously valid, banks would have no reason to suspect the problem with the check. Assuming that the account has sufficient funds to clean up the changed check, the recipient can then take the money and run. The holder of the unfortunate account is not aware of the fraud until the Fact.
Another of the more common types of control fraud involves theft of mail. In this sceneThe thieves show valid checks issued by the Company to the supplier. The remaining check is left intact, but the recipient's information changes to allow the thief to deposit the check to the account set for the purpose of receiving money. This type of access can take longer to appear because the company may not check anything but check the numbers and amounts before the monthly account reconciliation. Until then, the thief withdrew the funds and closed the receiving account.
Variations of these types of fraud with control is to steal valid control and use them to create counterfeit checks that can be performed for any amount. Forged Checks today represent a huge number of fraud with control. This type of operation requires a rapid turnover because the company does not have to and the checking of a corporate account with a check number that is outside the sequence or has a nominal value that is not charged.
One of the last examples of types of control fraud is an old -fashioned ball. In this scenario nThere is no thief who steals controls or changes them. Instead, the individual sets up two separate control accounts. The check is registered on one account and stored on the other account to cover other checks that were written on the other account. The next day is a check on the second account and saved in the first account. This is the coverage of the initial check that was previously stored in the second account the day before.
The reason is that the process can be maintained until the payment or other source of funds has passed, and it does not make it unnecessary to buy checks. Many honest people do not realize that this activity is actually a fraud, simply because their intention is to do all the controls of a good. Unfortunately, it will not always happen. Evidence of ball control can lead to legal consequences and fees that do nothing to improve the individual's financial situation, so this process should avoid at all costs.
One of the important means of howto avoid various control fraud, it is good to use checks for checking checks. Your local bank will be able to help you evaluate your current procedures and design various tools to help protect almost all kinds of fraud with control. In many cases, these services are available free of charge, while others may require a small fee.