The act committed by the bank employees for unjust enrichment is called as __________.

The correct answer is Interloper Fraud.

Key Points

• Interloper fraud refers to unethical acts committed by employees or insiders for personal gain or unjust enrichment.
• This type of fraud usually involves manipulation, embezzlement, or misappropriation of funds or resources.
• Interloper fraud can damage the organization’s reputation and lead to financial losses for stakeholders or customers.
• It often exploits internal vulnerabilities within the organization, such as weak controls or lack of oversight.
• Organizations combat interloper fraud by implementing strong internal controls, audits, and employee training programs.

Additional Information

• Phishing Fraud: A cybercrime where attackers impersonate legitimate entities to steal sensitive information like passwords or financial details.
• Scanning Fraud: Involves scanning systems or networks to identify vulnerabilities for unauthorized access or exploitation.
• Pharming Fraud: A cyberattack that redirects users from legitimate websites to fraudulent ones to steal personal or financial data.
• Internal Controls: Policies and procedures designed to safeguard assetsp, revent fraud, and ensure the integrity of financial reporting.
• Audit Mechanisms: Regular audits help identify and mitigate risks associated with fraud and ensure compliance with organizational policies.