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Financial Institution Fraud - Coggle Diagram
Financial Institution Fraud
Types of Embezzlement Schemes
Unauthorized withdrawals
Unauthorized disbursement of funds to outsiders
False accounting entries
Moving money from customers’ dormant or inactive accounts
Types of Loan Fraud Schemes
Reciprocal loan arrangements
Residential loan fraud
Double-pledging collateral
Construction loans
Red flags of loan fraud
Change order abuse
High turnover in developer’s personnel
Missing documentation
New Account Fraud
Fraud is much more likely to occur in new accounts than in established
accounts
Common methods
False identification
Mobile deposit fraud
Automated teller machine (ATM) deposits
Fraud that occurs on an account within the first ninety days that it is open
Common Types of Mortgage Fraud Schemes
Fraudulent sale
Fraudulent second lien
Air loan
Property flipping