Schemes associated with Expense Reimbursement - EXPENSE REIMBURSEMENT SCHEMES - FRAUD SCHEMES - BIFRANCHISE: Unique International Trade Import Export Concept

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Schemes associated with Expense Reimbursement

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Posted: 2009-02-17 00:33

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BIFRANCHISE

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Expense Reimbursement Schemes – manipulation of an organization’s expense reimbursement procedures to generate fraudulent disbursements. The four most common types of expense reimbursement schemes are:
1. Mischaracterized Expense Reimbursements – requesting reimbursement for a personal expense by claiming that the expense is business related.
2. Overstated Expense Reimbursements – overstating costs of actual business expenses, such as:
• Altered Receipts - changing the original amount to a higher one and pocketing the difference.
• Overpurchasing - purchasing two identical items at the different prices and requesting the employer to pay for the more expensive one while using the cheapest of the.
• Overstating Another Employee’s Expenses - changing the original amount to a higher one and pocketing the difference
• Orders to Overstate Expenses - falsifying one's own reports, but doing so at the direction of the supervisors in order to split the proceeds of the fraud or put aside the excess money to use it in a slush fund or for some other business purpose that is not in the company budget.
3. Fictitious Expense Reimbursements – inventing an expense and requesting that it to be reimbursed.
4. Multiple Reimbursements – submitting the same expense several times for the reimbursement.

Prevention of Expense Reimbursement Schemes - expense reports should require the following:
• Receipts or other support documentation - ORIGINALS
• Explanation of the expense including specific business purpose
• Time period expense occurred
• Place of expenditure
• Amount

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BIFRANCHISE: Unique International Trade Import Export Concept > FRAUD SCHEMES > EXPENSE REIMBURSEMENT SCHEMES > Schemes associated with Expense Reimbursement

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