Invoice Fraud Scheme

[cherry123]

Sure, the truth is that they are fraudsters everywhere. There are there in different companies both big and e small establishments. this is why business owners need to be careful

 

[hastral45]

There are many of them in a company and even in small establishments. They are only waiting for the right time. Once they strike, the company or business owners do not have any idea because of trust.But they cannot escape the Karma, sooner or later they will be caught and will be slapped with a big shame of a lifetime.

Yes o. They are found everywhere in business organizations. This act is not limited to superior officials alone. It can be found on junior officers like salesperson, clerks etc. Because they were in possession of the receipts, they believed they could manipulated them to their own suits.

 

[Starmix]

Yes o. They are found everywhere in business organizations. This act is not limited to superior officials alone. It can be found on junior officers like salesperson, clerks etc. Because they were in possession of the receipts, they believed they could manipulated them to their own suits.

There are instances when the manager instructs the cashier to manipulate the invoiced to escape the real amount to pay to the Internal Revenue. There are conspiracies anywhere because of a cheat.

 

[cherry123]

That's the truth fraudsters can be found everywhere in business organizations. Some are even those in junior rank so it's not limited to superior officials alone. It is quite disheartening

 

[Starmix]

They are people without morale and good values. They don't deserve pity when get caught. They're garbage in our society. Anyone doing this kind of fraud will rot in hell. There's nothing good in their minds.

 

[Heatman]

Stocks must be examined regularly so that you can quickly fish out any scandalous activities.

Personally I am finding it very difficult to do anything in the stock market because it is an area that I don't have much knowledge on and I don't want to take any risks by joining when I don't have much knowledge.

 

[cherry123]

Falling into the hands of scammers is very easy when it comes to insurance the best bet is to run everything via the right channels to avoid getting into wrong hands

 

[hastral45]

Personally I am finding it very difficult to do anything in the stock market because it is an area that I don't have much knowledge on and I don't want to take any risks by joining when I don't have much knowledge.

Yohanna is not referring to stock assets here. The stocks he referred to here is business terminology. It refers to the system of calculating the number of products you have available in the stores or warehouses after deducting sales and damages. It is from this system you would be able to know if there is fraud or not.

 

[cherry123]

This is why it is good as a business owner to always take the stocks pf goods on your store you need to personally do this to win with fraud.

 

[Niyi Briggs]

This is rampant in organizations that don't utilize external auditing. Big multinationals have even moved to forensic auditing in a bid to try and prevent fraud.

 

[cherry123]

Sure why not if you can adopt a better tool to detect fraud easily then go ahead it is needed you would be able to detect very fast on this

 

[hastral45]

This is why it is good as a business owner to always take the stocks pf goods on your store you need to personally do this to win with fraud.

Stock taking though is stressful and time taking yet it is necessary if don't want situation the business would go bankruptcy as a result of fraud.
Regular check up must be carried out periodically.
This is the only way frauds and other malpractices could be detected at the early stage before it becomes crisis.

 

[cherry123]

Sure Freud happens very fast where there's no stock taking. So taking stock is necessary if you don't want situation the business would go bankruptcy due to fraud so we need be careful

 

[hastral45]

I wonder why the aim of some people is to defraud a business someone labored hardly to established. In their attempts to become rich quickly, they would be looking for opportunities to enrich their pocket by manipulating account recording and destroying receipts and invoice.
They have forgotten that this act is a criminal act that is triable in courts of law.

 

[Starmix]

They fraud because they are greedy for money. The fraudsters are not thinking about the efforts and hardships faced by the businessmen in the past just to have them enjoy a better life through the salary they received, They are materialistic in nature.

 

[flower]

They fraud because they are greedy for money. The fraudsters are not thinking about the efforts and hardships faced by the businessmen in the past just to have them enjoy a better life through the salary they received, They are materialistic in nature.

I have always pointed out that anyone that got fraud online, is a little bit greedy.

 

[Starmix]

Invoice fraud is rampant anywhere in the world. They're greedy of money and what they always see is money so by all means they do something immoral. They might connive with the manager and cashier.

 

[Chibson]

That is a very big fraudulent scheme and unfortunately it exists in so many business establishments. Such people are the reason many businesses lose.

 

[Starmix]

Yes, many businesses may turn down because of invoices fraud, or they may not turn bankrupt but the profit may not be very big because of the money that is corrupted through sales invoices. Just imagine the purchase made by the assigned personnel. One news here in my country, a convicted fraudster was sentenced to 10 years imprisonment because the money he incurred from a fraud sales invoice reached 3 million in 8 year time. He was audited many times and he confirmed his fraud.

 

[Niyi Briggs]

That is the more reason that you should automate more processes in your busines. Automation of invoicing would greatly minimize invoice fraud.