Financial Crime - Tutorial 4

 Choose the correct effects of asset misappropriation in a company.

1. I. Ruining the reputation of a business. 

2. II. Losses in the company

3. III. Increase the company's profit

4. IV. Forcing the company to go out of business

• 1. I, II, III

• 1. I, III, IV

• 1. II, III, IV

• 1. I, II, IV

Which situation below shows payroll schemes that can be done by employees?

• Stealing the company’s inventory for selling purposes (inventory larceny)

• Altering a purchase invoice and asked the company to pay the overbilled invoice (billing scheme)

• Manipulating the amount of salary of an employer

• Using the company photostat machine for personal use (misuse)

Which of the following situations below describes the current asset?

• Mr and Mrs Ravi signed a contract with OCBC bank to obtain a house loan. (financial asset)

• Mr Ali gifted his son a luxurious car on his birthday. (fixed asset)

• Amy Furniture Sdn.Bhd successfully sold 2000 units of sofa sets in this month.

• Fina applied to get an authorized license to open a restaurant. (intangible asset)

Company X has patented an innovation created by their employee.

From the statement above, suggest the type of assets owned by Company X.

• 1. Current Assets 

• 1. Intangible Assets

• 1. Financial Assets 

• 1. Fixed Assets

Cashier Supermarket X scans the items purchased by customers in the cashier system. The customer paid RM20 to the cashier but he did not put the money in the cash register. He silently takes the money for himself.

Based on the situation above, analyze the types of asset misappropriation performed by the cashier.

• 1. Cash larceny

• 1. Fraudulent disbursement

• 1. Skimming

• 1. Misuse

Which of the situations below shows signs of bribery?

• The police officer is threatening the citizen that if they do not give him money, he will issue a summons.

• The police officer was offered a sum of money by the offender to avoid getting a summons.

• The police officer was threatened by the offender to not give him a summons.

• None of the above.

Which of the below does not constitute bribery?

• A government officer was given a large sum of cash by a contractor to win a project.

• A teacher was given a gold bracelet from a parent to alter their son's result.

• A police officer was given a bottle of water by a citizen as a show of thanks.

• A city commissioner was given a condominium in KL as a gift by the contractor.

Conflict of interest exist when:

• An employee has an undisclosed personal or economic interest in a transaction.

• The employees are gossiping to each other about their employer

• An employee has a misunderstanding with the employer.

• The employee did not report everything to the employer.

Which of the situations below shows a conflict of interest?

• 1. An employee uses the company car for personal use.

• 1. The employee who is working in the Human Resources Department provides a job for his brother.

• 1. The employee steals cash from the cash registry.

• 1. The employee forges the director's signature in the cheque for personal interest

Bribery can be done by:

• 1. Altering claim receipts to get extra payment from the reimbursement.

• 1. Using company assets for personal use

• 1. Altering invoices to overcharged the company

• Giving payments, gifts, or gratuities to employees from contractors or vendors.