Financial Crimes and Schemes
Part 1. Assume that you are on a team of forensic fraud investigators. You have been assigned to the following case:
For many years, XYZ Credit Union in central Wyoming provided financial support to many members of the West Lake community. The credit union issued loans and additional services that helped many in their community to fulfill their dreams; that is, until an internal auditor attempted to trace a sample of outstanding loans to a collection agency and found the names of at least 7 fictitious individuals and businesses. The employee immediately alerted the bank’s board of directors that something suspicious was going on.
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The board of directors has contracted your team to find out what has happened.
As a team, you are tasked with preparing a formal forensic report that answers the following questions in detail:
- What do you know about this crime?
- What is the origin of this crime?
- What areas of the company or individual assets were compromised?
- What are the internal controls?
- What are the external controls?
- What crimes were committed?
- What information do you need?
- Who will you interview?
- Devise a list of 5–10 critical questions that you will need answered.
- Which accounting records will you need to investigate this case?
- What are the external controls?
- What is your plan for the investigation?
- Which analysis will you perform to determine the cause?
- What are your recommendations for the organization?
- Based on what you learned in Phases 1–3, recommend solutions to deter crime.
Part 2. Based upon the information provided, design a compelling PowerPoint presentation for the board of directors that outlines your recommendations for storing sensitive data to prevent this kind of incident from happening again. Your presentation should include the following:
- Overview
- Findings
- Recommendations
- Conclusion
Your report may include illustrations or graphics.Please submit your assignment.
