Pass the ACFE Certified Fraud Examiner CFE-Financial-Transactions-and-Fraud-Schemes Questions and answers with ValidTests

An individual uses another person's personal identifying information to fill out a credit card application in their name and plans to make online purchases using the new card.

A hacker obtains the account and password information of consumers and uses them to direct funds from their accounts.

A restaurant server secretly scans a customer's credit card information into a small device for fraudulent use at a later time.

An employee of a person-to-person (P2P) provider misrepresents the number of hours that they worked to increase the amount of money earned on their paycheck.

Most perpetrators of check fraud are caught and prosecuted.

The equipment required to commit check fraud is relatively inexpensive.

The penalties for committing check fraud are relatively severe.

None of the above statements are true.

Unrecorded sales, understated sales and theft of incoming checks

Unrecorded sales, understated sales and dual endorsements

False company accounts, understated sales and theft of incoming checks

Understated sales, theft of incoming checks and check-for-currency substitutions

Deceive

Delude

Mislead

Beguile

Inventory usages

Fake sales

Asset requisition

All of the above

True

False

Reporting gifts

Discounts

Business meetings

Resource diversions

Positive pay is recommended for ACH transactions to ensure their legitimacy.

ACH blocks allow account holders to notify their banks that ACH debits should not be allowed on specific accounts.

The lack of physical evidence makes electronic payment tampering more difficult to detect than traditional check tampering.

The individual who makes electronic payments on behalf of the company should also set ACH filters to ensure that only designated individuals are paid.

Need recognition

Solicitation

False specification

Submission

Internal audits

Accidents

Internal controls

occupational frauds