Which of the following is an example of output fraud?
A) A man used desktop publishing to prepare bills for office supplies that were never ordered or
delivered and mailed them to local companies. The invoices were for less than $300, an amount
that often does not require purchase orders or approvals. A high percentage of the companies
paid the bills.
B) Two accountants without the appropriate access rights hacked into Cisco’’s stock option
system, transferred over $6.3 million of Cisco stock to their brokerage accounts, and sold the
stock. They used part of the funds to support an extravagant lifestyle, including a $52,000
Mercedes-Benz, a $44,000 diamond ring, and a $20,000 Rolex watch.
C) The office manager of a Wall Street law firm sold information to friends and relatives about
prospective mergers and acquisitions found in Word files. They made several million dollars
trading the securities.
D) A fraud perpetrator scanned a company paycheck, used desktop publishing software to erase
the payee and amount, and printed fictitious paychecks.
Example of an Output Fraud.is
A fraud perpetrator scanned a company paycheck, used desktop publishing software to erase the payee and amount and printed fictitious paychecks.
Option " D" is correct.
Which of the following is an example of output fraud? A) A man used desktop publishing...
Using the Internet, find a recent case in the news about business fraud (within the last 18 months) that involved systems and/or information breach. Summarize the situation, identify the control issues that were compromised and discuss what could have been done to mitigate the loss. Please refer to the six questions on page 143 related to Case 5-1. Adapt those questions to your case in the news and they will serve as good guidance for your paper. To understand the...
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