It can also be detected after-the-fact by comparing the deposit slip from the bank to the cashier's record of cash received. This issue can be mitigated by handing off the cash to an armored truck for delivery. The person delivering cash deposits to the bank can remove cash from the pouch on the way to the bank. This issue can be detected after the fact by recording the amount of cash prior to delivering it to the cashier, and then comparing the initial record to the cashier's record of cash received. The cashier can remove cash and simply not record the associated transaction in the accounting records. This theft can be prevented by having two people jointly open the mail. Since there is no in-house evidence that the cash ever arrived, a reasonable claim can be made that the payment was lost in the mail. If so, a mailroom clerk can pocket the mailed cash and destroy the envelope in which it came. Though rare, it is possible that a customer will send cash through the mail in payment of an invoice. If the inventory level is lower than indicated by the cash register transactions, someone may be removing cash. This approach can be detected after the fact by comparing actual inventory levels to the amount of sale transactions.
Intercept at Cash RegisterĪn employee could pocket cash at the cash register and never ring up the sale on the register. Note that all of the following types of cash fraud are perpetrated by corporate insiders.
Several ways in which cash fraud can be committed are noted below. Since cash is essentially untraceable once stolen, someone intent on stealing assets will be particularly focused on this type of asset. There are a number of ways in which an individual can commit fraud by stealing cash from a business.