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07/20/2020

The many flavors of fraud

Blue Book Services

Fraud comes in many sizes, flavors, and colors.

It can take place within a company. One form is payroll fraud, in which an employee overreports overtime hours and collects the extra money. Another is doublecheck fraud.

Here an accountant writes out a check to a vendor and simultaneously writes a check to him or herself, giving it the same code. Then there’s overordering fraud: an employee orders too many office supplies, returns the extra amount, and keeps the refund.

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