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Corporate Fraud Handbook: Prevention and Detection, 4th Edition by Joseph T. Wells

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CHAPTER 4

Cash Larceny

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Case Study: Bank Teller Gets Nabbed for Theft
Laura Grove1 had worked at Rocky Mountain Bank in Nashville, Tennessee, for five years. As a teller, she thought to herself, she wasn’t getting any richer. She and her husband owed about $14, 000 in credit card bills, which seemed to get higher and higher each month, especially after they had adopted a five-year-old girl the year before.
  When she transferred to a branch bank in Cheetboro, Tennessee, the bank promoted her to head teller. In this new position, Laura had authority to open the night depository vault with another teller. For security reasons, the bank allowed each teller to possess only half the combination to the vault.
  Every morning, Laura saw the bank night deposit vault door open and close after the removal of all customer night deposit bags. The bank placed only one camera on the night vault, which was turned on at 8:00 A.M. when the bank opened for business. Laura thought it would be easy to get into the night depository and take the bags. These thoughts were reinforced when a customer reported his bag missing and the bank quickly paid his money without a thorough investigation. So one Friday morning, Laura made up her mind that she could take about $15, 000 with little risk of being identified. But before she actually took the money, she made sure to learn the combination to the vault. ...

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