In a fraud scheme known as ____, the perpetrator attempts to cover the theft of cash received from customer A by applying cash collected from customer B to A's account, then applying a receipt from C to B's account, and so forth.
A) Kiting
B) lapping
C) schmoozing
D) hacking

Question

Quizplus · Accepted Answer

This describes the process of lapping, where stolen funds from one customer are covered up by using funds from another customer, and then covering up that theft with funds from yet another customer, and so on in a circular pattern. Kiting involves creating artificial balances by moving money between bank accounts, while schmoozing is a social engineering tactic used to trick people into revealing sensitive information. Hacking involves accessing computer systems without authorization.

In a Fraud Scheme Known as ____, the Perpetrator Attempts