TY - JOUR
T1 - Exotic Embezzling: Investigating Off-Book Fraud Schemes
AU - Buckhoff, Thomas
AU - Clifton, James
PY - 2004/1/1
Y1 - 2004/1/1
N2 - Defines onbook and offbook fraud: the former occurs when theft takes place after the recording of money on the victim company’s books, the latter when it occurs after recording, and types of such fraud can involve billing, payroll, expenses, cheque tampering, and register disbursement. Describes methods of investigating offbook fraud: financial statement analysis, undercover surveillance, invigilation, and admissionseeking interviews. Gives a case study concerning the Northern Exposure club, where so much skimming occurred that only 10% profits were being made after tax instead of the 30% expected; details how the fraud investigators proceeded by generating fraud theories based on the controls, or lack of, for monitoring cash flows, then collecting and evaluating evidence, estimating the losses incurred, and so on.
AB - Defines onbook and offbook fraud: the former occurs when theft takes place after the recording of money on the victim company’s books, the latter when it occurs after recording, and types of such fraud can involve billing, payroll, expenses, cheque tampering, and register disbursement. Describes methods of investigating offbook fraud: financial statement analysis, undercover surveillance, invigilation, and admissionseeking interviews. Gives a case study concerning the Northern Exposure club, where so much skimming occurred that only 10% profits were being made after tax instead of the 30% expected; details how the fraud investigators proceeded by generating fraud theories based on the controls, or lack of, for monitoring cash flows, then collecting and evaluating evidence, estimating the losses incurred, and so on.
KW - Corruption
KW - Fraud
UR - https://digitalcommons.georgiasouthern.edu/account-facpubs/58
UR - https://doi.org/10.1108/13590790410809167
U2 - 10.1108/13590790410809167
DO - 10.1108/13590790410809167
M3 - Article
SN - 1359-0790
VL - 11
JO - Journal of Financial Crime
JF - Journal of Financial Crime
ER -