Bait Record


DEFINITION of 'Bait Record'

An internal control used in accounting to detect fraud and improper usage. Bait records are planted in computerized files so that if the files are improperly accessed, it will be possible to track who accessed them. Bait records get their name because the parties intent on fraud and misuse are tempted to "take the bait."


For example, financial services firms are often the target of "phishing" email attacks from hackers and criminals looking to perpetrate identity theft. Bait records - consisting of fictional identities - planted in the firms' databases may enable law-enforcement agencies to better track who may be committing such fraud.

  1. Identity Fraud Reimbursement Program

    A financial product that offers reimbursment for the costs associated ...
  2. Identity Theft

    The crime of obtaining the personal or financial information ...
  3. Phishing

    A method of identity theft carried out through the creation of ...
  4. Skimming

    An electronic method of capturing a victim's personal information ...
  5. Spoofing

    A type of deception where an intruder attempts to gain unauthorized ...
  6. Accountant

    A professional who performs accounting functions such as audits ...
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