Credit Card & Cash Frauds (Currently Unavailable)

Author: Robert K Minniti

CPE Credit:  2 hours for CPAs

If your business accepts credit cards or cash payments you need to be aware of the fraud risks for these types of payments. This on-demand course is designed to review the issue of fraud in the cash accounts and cash maintained at a business location. It will also cover the various types of credit card frauds that occur in businesses. Examples of actual frauds will be provided so participants can understand how the frauds are being committed and how they were uncovered. We will review various methodologies for detecting cash frauds and will discuss developing internal controls to help prevent and detect cash frauds.

Publication Date: October 2018

Designed For
CPAs, CFEs, CFFs, MAFFs, CGMAs, CMAs, CIAs, CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and risk management personnel.

Topics Covered

  • Fraud Losses
  • The Fraud Triangle
  • Credit Card Usage, Trends, and Frauds
  • Countries With the Most Credit Card Fraud
  • Credit & Debit Card Frauds
  • Credit Card Application Fraud
  • Duplicate Card Fraud
  • RFID Protection
  • Debit Card Cracking
  • Shell Companies
  • Stolen Balance Transfer Checks
  • Card Not Present Fraud
  • Data Breaches
  • Stealing Card Information
  • Purchasing Credit Card Numbers
  • Credit Card Cramming
  • Employee Refunding
  • Cash Frauds
  • Counterfeit Currency
  • Detecting Counterfeit Currency
  • Buying Counterfeit Currency
  • Counterfeit Currency
  • Skimming
  • Refund Frauds
  • Cash Drawer Loans
  • Cash Larceny
  • Other Cash Frauds
  • Money Laundering
  • Money Laundering Schemes
  • COSO Framework for Internal Control
  • Internal Controls
  • Internal Controls for Businesses
  • Internal Controls for Credit Card Fraud
  • Internal Controls —PCI Compliance

Learning Objectives

  • Identify the methodologies for detecting cash frauds
  • Design internal controls to prevent and detect cash frauds
  • Describe how many credit cards are in use worldwide and where fraud most occurs
  • Recognize the color of a security thread under a black light
  • Identify what the U.S. Department of the Treasury recommends if you think you've received a counterfeit bill
  • Describe taking case before it is recorded in the accounting system
  • Identify what generates a majority of the illicit funds connected with money laundering
  • Differentiate internal controls can help prevent cash fraud
  • Recognize what counterfeit detector pens detect
  • Identify the components of the fraud triangle
  • Recognize how many years punishment for possession of counterfeit currency is
  • Identify correct statements regarding fraudster capabilities
  • Recognize where all counterfeit currency must be turned into
  • Describe the five components of the COSO Internal Control Framework
  • Identify types of cash fraud
  • Describe money laundering


Instructional Method

NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)

Program Prerequisites
Basic understanding of fraud and internal controls

Advance Preparation

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