03-19-2013 06:23 PM
Not sure where to post this, but will just do so here.
Going through some of our books today, and just wanted to make sure about something. There's no way any indvididual could take one of our corporate checks and deposit it into his or a thrid party personal account, right? Even if this person has the cooperation of a bank employee, this still wouldn't be possible, right?
03-19-2013 07:44 PM
We were issuing K1s, and something seemed off.
Nothing concrete, just a feeling from looking over numbers the past 10 years, this year's seemed a little strange. Just wanted to make sure it isn't possible where someone couldn't send out an invoice, receive a corporate check, then cash into a personal account and delete the invoice with the help of someone from IT.
03-21-2013 09:24 AM
With Fraud I would think that anything would be possible.
Best way to do a double check would be to survey the clients whom you think may have been sent bogus invoices.
You can call and just run through invoices with them... and if they start naming invoices that aren't in your system then you would find the problem.
03-30-2013 07:10 AM
You can't do this but if a bank allowed it they would also be in trouble.
Yes, but I have to detect and come up with the proof first. The bank would never disclose what may have happened on their own volition.
03-30-2013 02:35 PM
03-30-2013 09:00 PM
Yes of course you would. Need proof... Buts its very difficult to almost impossible in most banks. The manager would have to sign off on it which wouldn't happen unless they were in on it and even at that it would get question down the line as the check was processed. The only time you can really cross personal and business accounts are for sole props and single member LLC's.
I'm inclined to agree with you on the enormity of the conspiracy necessary to perpetrate this fraud.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.