What fraud scheme is similar to the "borrowing from Peter to pay Paul" scheme?
A) expense account fraud
B) kiting
C) lapping
D) transaction fraud

Question

Quizplus · Accepted Answer

Lapping involves delaying the recording of receivables to cover up the embezzlement of funds, similar to the concept of "borrowing from Peter to pay Paul," where money taken from one source is used to cover a shortfall in another.

What Fraud Scheme Is Similar to the "Borrowing from Peter