Fraud perpetrators take whatever they can get their hands on. But fraudsters prefer cash because it’s virtually untraceable. Fortunately, fraud experts have the expertise and tools to trace even cash-based theft. Multiple opportunities According to the Association of Certified Fraud Examiners, there are three main categories of cash fraud, which includes checks because they’re easily converted to cash: theft of cash on hand, theft of cash receipts, and fraudulent disbursements. Fraudulent disbursements comprise many of the most frequently executed schemes, such as over-billing and “ghost” employee schemes. Over-billing vendors usually submit inflated invoices by overstating the price per unit or the quantity delivered. A dishonest vendor also might submit a legitimate invoice several times. Over-billing may involve collusion with employees of the victim organization, who typically receive kickbacks for...