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| Section | Weight | Objectives |
|---|---|---|
| Identity Theft | 1–5% | - Prevention and detection - Types and techniques |
| Accounting Concepts | 5–10% | - Financial statements structure - Internal control fundamentals - Recording and summarizing transactions - Basic accounting principles |
| Asset Misappropriation – Cash Disbursements | 10–15% | - Check and payment tampering - Payroll schemes - Expense reimbursement schemes - Billing schemes |
| Industry-Specific Financial Crimes | 15–25% | - Insurance fraud - Cyber-enabled and cryptocurrency fraud - Real estate and securities fraud - Financial institution fraud - Healthcare fraud |
| Asset Misappropriation – Non-Cash Assets | 5–10% | - Inventory and equipment theft - Misuse of assets - Concealment techniques |
| Corruption Schemes | 5–10% | - Conflicts of interest - Illegal gratuities and extortion - Bribery and kickbacks |
| Asset Misappropriation – Cash Receipts | 5–10% | - Cash larceny schemes - Cash skimming schemes - Prevention and detection methods |
| Theft of Data and Intellectual Property | 5–10% | - Data and IP theft methods - Safeguarding proprietary information - Corporate espionage |
| Financial Statement Fraud | 10–15% | - Detection and red flags - Timing and disclosure manipulations - Revenue and asset overstatements - Expense and liability understatements |
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NEW QUESTION # 105
People commit financial statement fraud to:
Answer: B
Explanation:
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Financial Statement Fraud - Motivations and Incentives .
NEW QUESTION # 106
Which of the following would NOT be helpful in preventing expense reimbursement schemes?
Answer: B
Explanation:
The ACFE Fraud Examiners Manual addresses Expense Reimbursement Schemes under Asset Misappropriation: Fraudulent Disbursements and separates the discussion into:
* Detection of Expense Reimbursement Schemes
* Prevention of Expense Reimbursement Schemes
The Manual specifically identifies "Detailed Expense Reports: Submission and Review" as the prevention approach for expense reimbursement fraud.
Why A is correct
Requiring all employees to submit receipts electronically is not, by itself, a preventive control recognized by the Manual. The ACFE's prevention focus is on requiring detailed expense reports , adequate supporting documentation, and careful review-not merely changing the format of submission from paper to electronic.
In fact, because expense reimbursement fraud often involves altered receipts , fictitious receipts , and other manipulated support, simply requiring electronic submission does not meaningfully prevent the scheme. The Manual lists schemes such as altered receipts and producing fictitious receipts , showing that the problem is the authenticity and review of documentation, not whether the receipt is submitted electronically.
Why the other options are helpful
B). Comparing current expenses to budgeted expense amounts
This is helpful because the Manual includes review and analysis of expense accounts as part of detecting these schemes. Comparing reported expenses to expected or budgeted levels can reveal unusual spikes or anomalies that may indicate fraud.
C). Requiring employees to explain the specific business purpose of each expense This is clearly helpful and consistent with the Manual's prevention emphasis on detailed expense reports and proper documentation. Requiring a specific business purpose makes it harder to submit personal, inflated, or fictitious expenses.
D). Comparing current expenses to historical expenditure amounts
This is also helpful because the Manual's review and analysis of expense accounts supports analytical comparisons to identify irregularities, trends, or unexplained increases in reimbursements. Historical comparison is a classic way to spot padded or abnormal expense claims.
Conclusion
Under the ACFE Manual, prevention of expense reimbursement schemes depends on detailed reporting, documentation, and review . Merely requiring receipts to be submitted electronically does not address whether the receipts are false, altered, duplicated, or unsupported. Therefore, the choice that would NOT be helpful in preventing expense reimbursement schemes is:
A). Requiring all employees to submit receipts electronically
References
* ACFE Fraud Examiners Manual, 2020 International Edition
* Expense Reimbursement Schemes
* Detection of Expense Reimbursement Schemes / Review and Analysis of Expense Accounts
* Prevention of Expense Reimbursement Schemes / Detailed Expense Reports: Submission and Review
* Altered Receipts / Producing Fictitious Receipts
NEW QUESTION # 107
Which of the following options is the BEST example of a technical security control that organizations can use to block unauthorized or unverified transmissions?
Answer: D
Explanation:
The correct answer is A. Firewalls are technical security controls designed to monitor, filter, and control network traffic based on established security rules. They help block unauthorized, suspicious, or unverified transmissions between trusted internal systems and external networks. Application security is also technical in nature, but it focuses on protecting software applications rather than broadly controlling network transmissions. Cipher locks are physical access controls used to restrict entry to facilities or secured areas.
Data classification is an administrative control that categorizes information according to sensitivity and handling requirements. The ACFE computer and internet fraud materials recognize firewalls, routers, logging, monitoring, and technical safeguards as key components of a secure computing environment.
NEW QUESTION # 108
Which of the following is an insurance fraud detection tool used for identifying funds fraudulently sent to fictitious payees by using computer-generated reports to compare payments sent to the same location?
Answer: A
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Address similarity reports are used to identify fraudulent disbursements by flagging payments sent to multiple vendors or payees at the same address. This helps detect fictitious payees or shell companies set up by fraudsters.
* Analysis of Incorrect Options:
* A. Duplicate payment lists - Detects duplicate disbursements, not necessarily fictitious payees.
* C. Exception reports - Flag unusual transactions, but not specifically address similarities.
* D. Electronic confirmations - Used to verify balances or transactions, not detect fictitious vendors.
* Key Concept: Detection of fraudulent disbursements .
Reference: ACFE Fraud Examiners Manual (2020) , Fraudulent Disbursements: Fictitious Payee Schemes .
NEW QUESTION # 109
Which of the following actions can make mobile payments more secure?
Answer: A
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Biometric authentication (e.g., fingerprint, facial recognition) strengthens payment security by ensuring that only the authorized user can approve transactions, reducing the risk of unauthorized access even if credentials are stolen.
* Analysis of Incorrect Options:
* A - Using the same credentials increases exposure to credential-stuffing attacks.
* C - Disabling biometrics weakens, not strengthens, security.
* D - Incorrect since B is valid.
* Key Concept: Cyberfraud prevention - authentication and mobile payment controls.
Reference: ACFE Manual, Fraud Prevention and Deterrence - Cybersecurity Measures .
NEW QUESTION # 110
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