Which fraud scheme involves stealing customer receipts and applying subsequent customer cash payments to cover the theft?
A)kiting
B)laundering
C)lapping
D)bogus expense

Question

Quizplus · Accepted Answer

Lapping involves stealing a customer's payment and applying a subsequent customer's payment to cover up the theft. It creates a cycle of theft and manipulation of receivables. Kiting involves inflating account balances by recording nonexistent funds, laundering involves concealing the origins of funds, and bogus expenses involve creating false expense reports to obtain reimbursement. None of these involve stealing customer receipts or payments.

Which Fraud Scheme Involves Stealing Customer Receipts and Applying Subsequent