Question

Think of an incident in your life where you or someone you knew did something they should not have done where someone was hurt financially, or an incident where you were hurt financially. Write a short history of what happened and then take the position of a fraud examiner who was put in place of investigating the incident and describe the important steps they would have had to do in relation to that examination.

Answer 1

Once I Saw my Client (Paswara Papers Ltd) ran into huge cash losses due to a fradulent activity done by its own employee through forged checks. Employee drawn the checks in favour of unknown company unauthorisingly, he made theft of funds through forged checks.

Then Fraud Examiner was appointed and investigated the whole matter. Fraud Examiner came to the conclusion that the unknown company on whom check is drawn is family owned company of that mischievous employee and the bank employee was real brother of that employee. Company was newly formed , aging of company was merely 6 months, it was formed for creating misappropriation of funds and for fradulent activity.Both brothers did theft of funds. Bank holds all records of signature and can verify , but since it was planned fraud so the bank employee who was brother didn't do the same.