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Lapping Scheme
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Business, Social Studies
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University
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Hard
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The video explains a lapping scheme, a type of financial fraud involving accounts receivable. It details how funds are stolen and covered up by overlapping payments, making detection difficult. The scheme is possible when one person controls both the receipt of payments and customer billing, allowing them to alter records. The video concludes by summarizing the lapping scheme as a significant financial fraud issue.
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