Free ACFCS CFCS Exam Dumps Questions & Answers

You are a financial crime specialist who has been asked to investigate allegations of internal fraud at a construction supplies manufacturer Managers believe one or more employees are working with outsiders to siphon off company funds, but have little information on how it is happening.
The company s sales have grown significantly in recent months and it is expanding the geographic area in which it operates It relies on a large numberofthirdpartiesto conduct its operations, including distributors and sales agents You have started your investigation by examining invoices and other payment records made by the manufacturing company to thirdparties.
Which record would you prioritize as MOST suspicious?

• A.  Sales contracts that indicate a number ol new distributors in a city in wh.ch the manufacturer did not previously operate
• B.  invoices paid to a distributor that include sizable reimbursements lorunspecifiedtravel expenses
• C.  Transaction records that show commission checks larger than any other commission payments were issued to the mostexperiencedsales agent
• D.  Payment records to a new sales agent that demonstrate steadily increasing commissions requests over the past six months

Ms. Johnson, the compliance officer at DEF Credit Union, is conducting a risk assessment of the credit union's mobile banking services. Which of the following factors should Ms. Johnson consider when assessing the risks associated with mobile banking?

• A.  The age demographics of credit union members.
• B.  The number of branches operated by DEF Credit Union.
• C.  The credit union's annual revenue.
• D.  The level of encryption used in the mobile banking app.

WhichtransactionMOST likely suggests the integration stage of money laundering?

• A.  Multiple electronic fundstransfersbetween shell companies
• B.  Deposits of large amounts of cash
• C.  multi-countryimport/export invoices
• D.  Large cash purchase of prepaid cards

You work in a federal government agency processing benefits for millions of people who meet a specified sell of conditions (e. g, age, business size, medical necessity). The requests for benefits are filed electronically. Knowing that Fraudsters often falsely claim eligibility you have been asked to recommend analytical solutions to reduce the fraud across the agency's operations.
Which analytical or investigative method would MOST effectively identify potential fraudsters at the agency's enterprise level of operations?

• A.  Proactively screen transactions or claim requests against established business rules or criminal patterns prior to payment
• B.  Begin reviewing historical tax information to possibly conduct an audit of all suspicious applicants
• C.  Partner will a law enforcement agency to review each applicant prior to paying any benefits
• D.  Check for negative news information about applicants

Through an annual review for an insured persons government-provided health insurance claims you determine that the applicant's eligibility has been consistently and significantly overstated. Further the medical justification reveals possible duplicate procedures within a short period of time All details and documents provided by the applicant are verified to be accurate and valid.
This type of fraud is usually initiated from which involved party?

• A.  Beneficiary or claimant
• B.  No involved party, these are merely accidental errors in billing at the system level
• C.  Service or health care provider
• D.  Health insurance company