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3. Robert was the chief teller in a large New York bank.
Over a period of three
years, he
embezzled $1.5 million. He took the money by manipulating dormant accounts.
Unfortunately, Robert was both responsible for handling dormant accounts and for dealing with complaints from customers. When a customer would complain about his account, Robert was always the one to explain the discrepancy. He usually used the excuse that “it’s a computer error.” What internal control weaknesses allowed this fraud to occur? (10 points)
