fraud awareness week quiz5 1 / 25 FRAUD CASE STUDY 1 – The Phantom Vendor Scenario A procurement assistant, Ravi, created a new vendor “Alpha Supplies” that closely resembled an existing approved vendor “Alfa Supplies.” Over three months, Ravi processed five fake invoices totaling ₹18 lakh for “consulting services.” Payments went to an account owned by his cousin. The fraud was discovered when two vendors with near-identical names appeared in the system audit. Q1. What type of fraud occurred? Check 2 / 25 FRAUD CASE STUDY 1 – The Phantom Vendor Scenario A procurement assistant, Ravi, created a new vendor “Alpha Supplies” that closely resembled an existing approved vendor “Alfa Supplies.” Over three months, Ravi processed five fake invoices totaling ₹18 lakh for “consulting services.” Payments went to an account owned by his cousin. The fraud was discovered when two vendors with near-identical names appeared in the system audit. Q2. What were the key red flags? Check 3 / 25 FRAUD CASE STUDY 1 – The Phantom Vendor Scenario A procurement assistant, Ravi, created a new vendor “Alpha Supplies” that closely resembled an existing approved vendor “Alfa Supplies.” Over three months, Ravi processed five fake invoices totaling ₹18 lakh for “consulting services.” Payments went to an account owned by his cousin. The fraud was discovered when two vendors with near-identical names appeared in the system audit. Q3. What control was missing? Check 4 / 25 FRAUD CASE STUDY 1 – The Phantom Vendor Scenario A procurement assistant, Ravi, created a new vendor “Alpha Supplies” that closely resembled an existing approved vendor “Alfa Supplies.” Over three months, Ravi processed five fake invoices totaling ₹18 lakh for “consulting services.” Payments went to an account owned by his cousin. The fraud was discovered when two vendors with near-identical names appeared in the system audit. Q4. What motivated the fraudster? Check 5 / 25 FRAUD CASE STUDY 1 – The Phantom Vendor Scenario A procurement assistant, Ravi, created a new vendor “Alpha Supplies” that closely resembled an existing approved vendor “Alfa Supplies.” Over three months, Ravi processed five fake invoices totaling ₹18 lakh for “consulting services.” Payments went to an account owned by his cousin. The fraud was discovered when two vendors with near-identical names appeared in the system audit. Q5. What control fix is recommended? Check 6 / 25 FRAUD CASE STUDY 2 – The Expense Reimbursement Loophole Scenario A sales executive, Priya, regularly traveled for meetings. She submitted duplicate Uber and meal receipts, some dated weekends, all labeled “Client meeting.” In six months, she claimed ₹3.5 lakh in false reimbursements before audit flagged the patterns. Q1. What type of fraud occurred? Check 7 / 25 FRAUD CASE STUDY 2 – The Expense Reimbursement Loophole Scenario A sales executive, Priya, regularly traveled for meetings. She submitted duplicate Uber and meal receipts, some dated weekends, all labeled “Client meeting.” In six months, she claimed ₹3.5 lakh in false reimbursements before audit flagged the patterns. Q2. What were the red flags? Check 8 / 25 FRAUD CASE STUDY 2 – The Expense Reimbursement Loophole Scenario A sales executive, Priya, regularly traveled for meetings. She submitted duplicate Uber and meal receipts, some dated weekends, all labeled “Client meeting.” In six months, she claimed ₹3.5 lakh in false reimbursements before audit flagged the patterns. Q3. What allowed it to go unnoticed? Check 9 / 25 FRAUD CASE STUDY 2 – The Expense Reimbursement Loophole Scenario A sales executive, Priya, regularly traveled for meetings. She submitted duplicate Uber and meal receipts, some dated weekends, all labeled “Client meeting.” In six months, she claimed ₹3.5 lakh in false reimbursements before audit flagged the patterns. Q4. What element of the Fraud Triangle applies? Check 10 / 25 FRAUD CASE STUDY 2 – The Expense Reimbursement Loophole Scenario A sales executive, Priya, regularly traveled for meetings. She submitted duplicate Uber and meal receipts, some dated weekends, all labeled “Client meeting.” In six months, she claimed ₹3.5 lakh in false reimbursements before audit flagged the patterns. Q5. What control could prevent it? Check 11 / 25 FRAUD CASE STUDY 3 – The Kickback Scheme Scenario A purchasing manager, Vikas, regularly awarded contracts to a vendor who paid him “commission” in cash and free travel vouchers. In return, the vendor overbilled the company by 20%. The scheme was uncovered when an anonymous whistleblower reported unusual vendor relationships. Q1. What type of fraud occurred? Check 12 / 25 FRAUD CASE STUDY 3 – The Kickback Scheme Scenario A purchasing manager, Vikas, regularly awarded contracts to a vendor who paid him “commission” in cash and free travel vouchers. In return, the vendor overbilled the company by 20%. The scheme was uncovered when an anonymous whistleblower reported unusual vendor relationships. Q2. What red flags were visible? Check 13 / 25 FRAUD CASE STUDY 3 – The Kickback Scheme Scenario A purchasing manager, Vikas, regularly awarded contracts to a vendor who paid him “commission” in cash and free travel vouchers. In return, the vendor overbilled the company by 20%. The scheme was uncovered when an anonymous whistleblower reported unusual vendor relationships. Q3. What control could detect this early? Check 14 / 25 FRAUD CASE STUDY 3 – The Kickback Scheme Scenario A purchasing manager, Vikas, regularly awarded contracts to a vendor who paid him “commission” in cash and free travel vouchers. In return, the vendor overbilled the company by 20%. The scheme was uncovered when an anonymous whistleblower reported unusual vendor relationships. Q4. Which Fraud Triangle factor is strongest here? Check 15 / 25 FRAUD CASE STUDY 3 – The Kickback Scheme Scenario A purchasing manager, Vikas, regularly awarded contracts to a vendor who paid him “commission” in cash and free travel vouchers. In return, the vendor overbilled the company by 20%. The scheme was uncovered when an anonymous whistleblower reported unusual vendor relationships. Q5. What governance action should follow? Check 16 / 25 FRAUD CASE STUDY 4 – The Ghost Employee Scenario In a fast-growing retail chain, Neha, an HR payroll executive, added two “temporary field staff” under her supervision. Their bank accounts were hers. For 10 months, she received both salaries totaling ₹9.2 lakh before IT audit detected identical PAN numbers. Q1. What type of fraud is this? Check 17 / 25 FRAUD CASE STUDY 4 – The Ghost Employee Scenario In a fast-growing retail chain, Neha, an HR payroll executive, added two “temporary field staff” under her supervision. Their bank accounts were hers. For 10 months, she received both salaries totaling ₹9.2 lakh before IT audit detected identical PAN numbers. Q2. What were the red flags? Check 18 / 25 FRAUD CASE STUDY 4 – The Ghost Employee Scenario In a fast-growing retail chain, Neha, an HR payroll executive, added two “temporary field staff” under her supervision. Their bank accounts were hers. For 10 months, she received both salaries totaling ₹9.2 lakh before IT audit detected identical PAN numbers. Q3. Which control failed? Check 19 / 25 FRAUD CASE STUDY 4 – The Ghost Employee Scenario In a fast-growing retail chain, Neha, an HR payroll executive, added two “temporary field staff” under her supervision. Their bank accounts were hers. For 10 months, she received both salaries totaling ₹9.2 lakh before IT audit detected identical PAN numbers. Q4. How could detection be improved? Check 20 / 25 FRAUD CASE STUDY 4 – The Ghost Employee Scenario In a fast-growing retail chain, Neha, an HR payroll executive, added two “temporary field staff” under her supervision. Their bank accounts were hers. For 10 months, she received both salaries totaling ₹9.2 lakh before IT audit detected identical PAN numbers. Q5. Which Fraud Triangle element was present? Check 21 / 25 FRAUD CASE STUDY 5 – The Revenue Recognition Trap Scenario At quarter-end, Amit, the Finance Head, instructed the sales team to record shipments “as sold” before actual dispatch, inflating revenue by ₹12 crore. He argued it was a “timing issue” that would reverse next quarter. The company later faced penalties after external auditors detected premature revenue recognition. Q1. What type of fraud occurred? Check 22 / 25 FRAUD CASE STUDY 5 – The Revenue Recognition Trap Scenario At quarter-end, Amit, the Finance Head, instructed the sales team to record shipments “as sold” before actual dispatch, inflating revenue by ₹12 crore. He argued it was a “timing issue” that would reverse next quarter. The company later faced penalties after external auditors detected premature revenue recognition. Q2. Why was it done? Check 23 / 25 FRAUD CASE STUDY 5 – The Revenue Recognition Trap Scenario At quarter-end, Amit, the Finance Head, instructed the sales team to record shipments “as sold” before actual dispatch, inflating revenue by ₹12 crore. He argued it was a “timing issue” that would reverse next quarter. The company later faced penalties after external auditors detected premature revenue recognition. Q3. What accounting red flag existed? Check 24 / 25 FRAUD CASE STUDY 5 – The Revenue Recognition Trap Scenario At quarter-end, Amit, the Finance Head, instructed the sales team to record shipments “as sold” before actual dispatch, inflating revenue by ₹12 crore. He argued it was a “timing issue” that would reverse next quarter. The company later faced penalties after external auditors detected premature revenue recognition. Q4. What control could have prevented it? Check 25 / 25 FRAUD CASE STUDY 5 – The Revenue Recognition Trap Scenario At quarter-end, Amit, the Finance Head, instructed the sales team to record shipments “as sold” before actual dispatch, inflating revenue by ₹12 crore. He argued it was a “timing issue” that would reverse next quarter. The company later faced penalties after external auditors detected premature revenue recognition. Q5. Which Fraud Triangle component dominated? Check Your score isThe average score is 0% 0% Restart quiz
