ACG 6686 FIU Fernandos Fraud Triangle Experiencing Lower Revenues Case Study

Fernandos Fraud Triangle is a retail establishment that has been experiencing lower revenues in the last six months, even though sales are up to 21.1 %.

Fernandos sells whatever products you want to sell and takes cash, credit cards, and checks.

All three categories-cash/checks/credit cards-have remained consistent with no significant increase-while sales are up.

There are three employees and all have access to the register and can override refunds and any other items that need to be charged back.

I have narrowed it down to three employees for you.

You have been called in as the Fraud Examiner to see who has their fingers in the till.

Mitch:

47 Years old; 14.2 years with the company/full time employee

Recently divorced/ pays child support for two kids

Wages are garnished by the courts for payment

Drives a three year old Jag-u-Ar

Just bought a new home

Makes $88,282 a year

Loves to dress in style

Loves the night life

Crystal:

31 Years old; 10.8 years with the company/full time employee

Married/mother of two children

Husband has a full time job

Makes $72,262 a year

Drives a four year old Volvo

Recently bought a new home

Loves to dress in style

Loves the night life

John:

21 years old; 5.3 years with the company/part time employee

College student/accounting

Just bought a four year old Hyundai Santa Fe

Lives with his parents

Pays for school

Makes $38,282 a year, part time

Single

Loves to party and dress nice

Applying the fraud triangle, who has been stealing the funds????????

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