Embezzlement

Which one is NOT an element of the crime of Embezzlement:

• There must be a fiduciary relationship between the two parties

• The defendant must have acquired the property through the relationship

• The defendant must have taken ownership of the property or transferred the property to someone else

• The defendant's actions don't have to be intentional

Who Commits Embezzlement mostly?

• trusted employee who has been given access to someone else’s property or money

• Consumers of services, like clients in restaurants who do not pay for the meal

• Internet fraudster who steal identities of other users and use them for their own benefit

• Consumers of public utilities, like people who avoid paying for the utilities such as gas, electricity, TV cable services, etc.

What is Siphoning?

• to dishonestly take money from an organization or other supply, and use it for a purpose for which it was not intended

• illegal practice of allocating one customer’s payment to another customer’s account

• The theft of funds from a business via the business’s payroll function.

• form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered.

What is lapping?

• to dishonestly take money from an organization or other supply, and use it for a purpose for which it was not intended

• the illegal practice of allocating one customer’s payment to another customer’s account

• The theft of funds from a business via the business’s payroll function.

• form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered.

What is kickback?

• to dishonestly take money from an organization or other supply, and use it for a purpose for which it was not intended

• the illegal practice of allocating one customer’s payment to another customer’s account.

• The theft of funds from a business via the business’s payroll function.

• form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered.

Which one is not the payroll embezzlement technique?

• Ghost Employees

• Timesheet Fraud

• Expense Reimbursement Fraud

• Ponzi

What is the main legislation for embezzlement?

• Fraud Act 2006

• Theft Act 1968

• Criminal Justice Act 1988

• Proceeds of Crime Act 2002

The case of the world's largest Ponzi scheme which earned the accused billions and 150 years of prison term is:

• MMM

• Ahmad boy

• Enron

• Bernie Madoff

What is the difference between theft and embezzlement?

• In old English law theft/larceny required a trespass, but there is no trespass with embezzlement.

• In embezzlement there is no relationship between the parties

• In embezzlement the person who embezzles is not in a lawful possession of the property/money like in theft

What was the nickname of Indonesian president regarding his kickback requirements for all the national projects.

• Mister 25%

• Mister 10%

• Mister kickback

• Mister fifty-fifty