Lapping (fraud scheme)

Lapping is a type of skimming in which the person committing the fraud steals cash from one account, and then uses money from another account to conceal the fraud.
The segregation of duties can prevent a single employee from initiating a lapping scheme.-
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[@sameehakhan9215]

Loved the explanation. Short and to the point. It has covered everything. Definition, example and how to prevent! Good job!

[@jeanacatangal736]

One dislike is from someone who didn't understand simple discussion 😂

[@wagneura1]

Excelent explanation! Direct and simple. Thank you

[@ariah5093]

Thank you! Love your channel!

[@xberso1775]

Excellently discussed. Loved it.

[@Edspira]

Much appreciated!

[@michaelhidayat5636]

Good

[@leshiaweekes-hart1066]

Like computers being used on the job.Jobbit,certain accounts being used on the job that pays for the employees merchandise s,they also changes emails repeatedly at the work place.

[@Vistafy]

thank you, but how could you apply only 8K to an account with a 10K check?? Like, you can't split a check when making a deposit, it has the be the amount written on the check (2:06)

[@leshiaweekes-hart1066]

Some get gretty on the job,then start getting brieves from boss's where they would have to start being on the job when ever their called,and even on the days off.Then even claiming others for tax purposes for years ,and the job finds out about then uses that and starts brieving the employee for many years. Then their all in deep.With more ways they start making money.All on the job

[@awsomo53]

So this is check kiting except with A/R

[@markslesarev5024]

Thank you, now I know how to no get caught! JK

[@leshiaweekes-hart1066]

This is exactly like ponzi scheme

[@Nobody-eu5qn]

Feels like a Ponzi scheme