PSM Chapt 6

What are some common types of bank fraud?

• Counterfeiting, check fraud, identity theft, loan scams

• Credit card fraud, phishing, ATM card theft, illegal access to financial institutions

• All of the above

• None of the above

What is identity theft?

• Using stolen credit cards or ATM cards

• Writing fake checks or forging checks in someone else's name

• Pretending to be a legal organization to obtain personal information

• False withdrawals from bank accounts or dishonest use of calling cards

What is internet fraud?

• Theft of personal information or fraudulent transactions via the internet

• Writing fake checks or forging checks in someone else's name

• Using stolen credit cards or ATM cards

• Pretending to be a legal organization to obtain personal information

What is check fraud?

• Using stolen credit cards or ATM cards

• Writing fake checks or forging checks in someone else's name

• Pretending to be a legal organization to obtain personal information

• False withdrawals from bank accounts or dishonest use of calling cards

What is phishing?

• Using stolen credit cards or ATM cards

• Writing fake checks or forging checks in someone else's name

• Pretending to be a legal organization to obtain personal information

• The scam of contacting targets to obtain private information

What is the first step in the fraud investigation process?

• Performing research to gather information

• Identifying fraud risk indicators

• Having a suspicion of fraud

• Determining who did the crime

Who can perform forensic accounting work?

• Accountants and non-accountants

• Only accountants

• Only non-accountants

• Lawyers and accountants

What should be assumed during a fraud investigation?

• The investigation will lead to a lawsuit

• The investigation will not lead to a lawsuit

• The investigation will result in financial losses

• The investigation will be inconclusive

What does the dual approach investigation involve?

• Investigating from the perspective of fraud occurring and fraud not occurring

• Investigating from the perspective of fraud occurring and fraud prevention

• Investigating from the perspective of fraud detection and fraud response

• Investigating from the perspective of fraud prevention and fraud detection

What is the purpose of moving from general to specifics in a fraud investigation?

• To ensure all information is accessible to the fraud investigator

• To determine who is to blame for the fraud

• To preserve the fraud examiner's neutrality

• To guarantee legal requirements are followed