Credit Card & Cash Frauds
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 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: April 2021
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
- Occupational Fraud
- Various types of credit card frauds that occur
- Examples of actual frauds
- How frauds are being committed and uncovered
- Various types of cash frauds that occur
- Various methodologies for detecting cash frauds
- Internal Controls for Preventing & Detecting Credit Card & Cash Frauds
Learning Objectives
- Identify ways to prevent credit card and cash frauds
- Identify common credit card and cash fraud schemes
- Recognize what is not usually associated with cash frauds
- Describe true statements regarding credit card duplication
- Recognize parts of the fraud triangle
- Identify COSO components often referred to as the "Tone at the Top"
- Identify which US bill is most frequently counterfeited
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)
Program Prerequisites
Basic understanding of fraud and internal controls
Advance Preparation
None
