Richard has been recently hired at a local clothes store. He has been through financial hardship during the last few months. Within a few weeks of working in her new employment, however, Richards began to engage in fraud. He committed the fraud by doing the following: When customers returned merchandise, Richard would ring up an amount that was greater than the value of the item that was being returned. Richard would then pocket the extra cash and give the customer the amount due. Richard found this method of fraud very effective because customers were, in reality, returning something and inventory and register totals wouldn't be out of balance at the end of the day.

1. What type of fraud(s) could be or is/are being committed (Be Specific)? 2. What procedures could have been implemented to prevent this fraud? 3. What procedures could have been used to detect this fraud?

Please provide 4 correct preventive procedures, and 4 detective procedures.