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Fraud and fraud detection





ForewordPrefaceHOW THIS BOOK IS ORGANIZEDDEFINING FRAUDANOMALIES VERSUS FRAUDTYPES OF FRAUDASSESS THE RISK OF FRAUDCONCLUSIONTWO. Fraud DetectionRECOGNIZING FRAUDDATA MINING VERSUS DATA ANALYSIS AND ANALYTICSDATA ANALYTICAL SOFTWAREANOMALIES VERSUS FRAUD WITHIN DATAFRAUDULENT DATA INCLUSIONS AND DELETIONSCONCLUSIONTHREE. The Data Analysis CycleEVALUATION AND ANALYSISSoftware and TechnologyAudit and InvestigativeOBTAINING DATA FILESAudit ObjectivesDetermine Whether IDEA Is AppropriateData RequirementsPERFORMING THE AUDIT Obtain Test FilesIDEA ImportAfter ImportCleaning Up the DataDocumenting the ResultsFILE FORMAT TYPESPREPARATION FOR DATA ANALYSISData FamiliarizationARRANGING AND ORGANIZING DATACONCLUSIONFOUR. Statistics and SamplingDESCRIPTIVE STATISTICSINFERENTIAL STATISTICSMEASURES OF CENTERMEASURE OF DISPERSIONMEASURE OF VARIABILITYDeviations from the MeanThe Mean DeviationThe VarianceThe Standard DeviationStandard Deviation of a Population versus Standard Deviation of a SampleSAMPLINGStatistical SamplingNonstatistical SamplingSampling RiskNonsampling RiskNonstatistical Sampling MethodsStatistical Sampling MethodsProbability Proportional-to-Size Sampling (PPS)Attribute SamplingClassical Variables Sampling (CVS)Discovery SamplingChoice of Sampling MethodsSampling Is Not EnoughCONCLUSIONFIVE. Data Analytical TestsBENFORD'S LAWUsing Benford's Law in IDEAUsage Considerations of Benford's LawConclusionNUMBER DUPLICATION TESTZ-SCORERELATIVE SIZE FACTOR TESTSAME-SAME-SAME TESTSAME-SAME-DIFFERENT TESTEVEN AMOUNTSCONCLUSIONSIX. Advanced Data Analytical TestsCORRELATIONTREND ANALYSISGEL-1 AND GEL-2GEL-1GEL-2CONCLUSIONSEVEN. Skimming and Cash LarcenySKIMMINGCASH LARCENYCASE STUDYCONCLUSIONEIGHT. Billing SchemesDATA AND DATA FAMILIARIZATIONBENFORD'S LAW TESTSRELATIVE SIZE FACTOR TESTZ-SCOREEVEN DOLLAR AMOUNTSSAME-SAME-SAME TESTSAME-SAME-DIFFERENT TESTPAYMENTS WITHOUT PURCHASE ORDERS TESTLENGTH OF TIME BETWEEN INVOICE AND PAYMENT DATES TESTSEARCH FOR POST OFFICE BOXMATCH EMPLOYEE ADDRESS TO SUPPLIERDUPLICATE ADDRESSES IN VENDOR MASTERPAYMENTS TO VENDORS NOT IN MASTERGAP DETECTION OF CHECK NUMBER SEQUENCESCONCLUSIONNINE. Check-Tampering SchemesELECTRONIC PAYMENTS FRAUD PREVENTIONCHECK TAMPERINGObtaining ChecksObtaining an Authorized SignatureThe PayeeConcealing the DeedDATA ANALYTICAL TESTSOther Analytical TestsCONCLUSIONTEN. Payroll FraudDATA AND DATA FAMILIARIZATIONData Familiarization StepsDATA ANALYSISBlank Contents in the Last-Name FieldHigh Number of PaymentsDuplicate Key DetectionPayments on Last Day of the MonthAnalyzing Files by Payment TypeRegular Salary PaymentsOvertime Wages PaymentsSigning Incentive Plan PaymentsComparing Regular Salary Payments with Other Payment TypesTHE PAYROLL REGISTERPayroll Register TestsTesting the Payroll Register File against Other Data FilesPAYROLL MASTER AND COMMISSION TESTSPayroll Master File TestsCommission Payment TestsCONCLUSIONELEVEN. Expense Reimbursement SchemesOverstated Expense ReimbursementsMischaracterized Expense ReimbursementsMultiple ReimbursementsFictitious Expense ReimbursementsDATA AND DATA ANALYSISDays TraveledSame Day Traveled with Accommodation ChargesSame Day Traveled with Flight ChargesSame Day Traveled with Both Flight and Accommodation ChargesTraveled Overnight with Both Flight and Accommodation ChargesTraveled Overnight with Flight but No Accommodation ChargesTop-10 Flight Charges with No Accommodation Charge and Traveled OvernightZ-Score TestsPivot Table ViewTop Record ExtractionsSame-Same-Same TestsSame-Same-Different TestEven Amounts TestsDaily Averages TestsRelative Size Factor TestComparison Based on Audit UnitTravel Outside of the Country TestOther Potential TestsPurchase CardsCONCLUSION AND AUDIT TRAILTWELVE. Register Disbursement SchemesFALSE REFUNDS AND ADJUSTMENTSFALSE VOIDSCONCEALMENTDATA ANALYTICAL TESTSData FamiliarizationVoid TestsThe equation instructs IDEA to extract any record where the payment type fieldCoupon TestsOther Data Analytical TestsCONCLUSIONTHIRTEEN. Noncash MisappropriationsTYPES OF NONCASH MISAPPROPRIATIONSMisuse and AbuseUnconcealed MisappropriationsTransfer of AssetsProprietary InformationCONCEALMENT OF NONCASH MISAPPROPRIATIONSFalsifying Sales or Purchase RecordsFalsifying Inventory RecordsDATA ANALYTICSData FilesData Analytical TestsCONCLUSIONFOURTEEN. CorruptionBRIBERYOverbilling SchemesUnderbilling SchemesTENDER SCHEMESKICKBACKS, ILLEGAL GRATUITIES, AND EXTORTIONCONFLICT OF INTERESTDATA ANALYTICAL TESTSOther Data Analytical TestsCONCEALMENTCONCLUSIONFIFTEEN. Money LaunderingTHE MONEY-LAUNDERING PROCESSThe Placement StageThe Layering StageThe Integration StageOTHER MONEY TRANSFER SYSTEMS AND NEW OPPORTUNITIESAUDIT AREAS AND DATA FILESData Analytical TestsCONCLUSIONSIXTEEN. Zapper FraudPOINT-OF-SALES SYSTEM CASE STUDYFile PreparationGap DetectionQuarterly ReconciliationMonthly ReconciliationTender AnalysisBackup Data AnalysisQUANTIFYING THE ZAPPED RECORDSADDITIONAL POS DATA FILES TO ANALYZEMISSING AND MODIFIED BILLSTHE MARKUP RATIOSCONCLUSIONS AND SOLUTIONSSEVENTEEN. Automation and IDEAScriptCONSIDERATIONS FOR AUTOMATIONVisual Script versus IDEAScriptCREATING IDEASCRIPTSCompanion Website IDEAScriptsCONCLUSIONFINANCIAL STATEMENT FRAUDIDEA FEATURES DEMONSTRATEDPROJECTS OVERVIEWDATA ANALYTICS: FINAL WORDSAbout the Author
 
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