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Principles of Fraud Examination, 4th Edition by Joseph T. Wells

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EXHIBIT 3-1

CHAPTER 3

CASH LARCENY

LEARNING OBJECTIVES

After studying this chapter, you should be able to:

3-1 Define cash larceny
3-2 Understand how cash receipts schemes differ from fraudulent disbursements
3-3 Recognize the difference between cash larceny and skimming
3-4 Understand the relative frequency and cost of cash larceny schemes as opposed to other forms of cash misappropriations
3-5 Identify weaknesses in internal controls as inducing factors to cash larceny schemes
3-6 Understand how cash larceny is committed at the point of sale
3-7 Discuss measures that can be used to prevent and detect cash larceny at the point of sale
3-8 Understand and identify various methods used by fraudsters to conceal cash larceny of receivables
3-9 Understand schemes involving cash larceny from deposits, including lapping and deposits in transit
3-10 Understand controls and procedures that can be used to prevent and detect cash larceny from bank deposits
3-11 Be familiar with proactive audit tests that can be used to detect cash larceny schemes

CASE STUDY: BANK TELLER GETS NABBED FOR THEFT1

Laura Grove worked at Rocky Mountain Bank in Nashville, Tennessee, for five years. As a teller, she thought to herself, she wasn't getting any richer. She and her husband owed about $14,000 in credit card bills, which seemed to get higher and higher each month, especially ...

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