The most common fraud in the acquisitions area is for the perpetrator to
A)alter the cheque payment file before it is printed so that the payee name is changed.
B)issue payments to fictitious vendors and deposit the cheques to a fictitious account.
C)change the optical characters at the bottom of a cheque to alter the account to be credited.
D)issue duplicate payments for invoices and then pocket the second cheque.

Question

Quizplus · Accepted Answer

Issuing payments to fictitious vendors and depositing the cheques to a fictitious account is the most common type of fraud in the acquisitions area, also known as vendor fraud. The perpetrator creates a fake vendor account and submits invoices for payment, which are authorized and paid. The money is then diverted to the fictitious account instead of the legitimate vendor. This type of fraud is difficult to detect because it involves creating fake identities and manipulating the payment process.

The Most Common Fraud in the Acquisitions Area Is for the Perpetrator