Unfortunately, the vast majority of “Ponzi” scheme victims receive nominal restitution if at all. That said, do the victims bear some ethical responsibility as it relates to their participation in the fraud? Certainly, many will recall the memorable…
In most cases victims are unaware that they are even victims until it is too late to do anything about the theft and there is already a multitude of debt built up in our name. There are so many different ways that identity theft is done these days that the best line of defense is to stay visitant and keep a journal of all expenditures, and check your credit reports regularly. In this chapter we learn that Staying alert to our credit monitoring is like setting a home alarm system (Kapoor, Dlabay, L, & Hughes, 2014). If when checking through financial records and credit reports if there is anything that seems peculiar or out of place immediately dispute and investigate to make sure if it is as simple as a billing error or in fact your identity has been compromised. If you do find that your identity has been stolen immediately report to the appropriate agencies (Kapoor, Dlabay, L, & Hughes, 2014).…
Direct Victim: The direct victim in the case study is a factory manager who explains that he was shocked and horrified by the mess and damage from the crime. His financial losses were not only the cost of the damages, but also the loss of making money the entire day as the day was spent cleaning up the mess (Crosland, P., & Liebmann, M. 2003). Although the financial needs of the direct victim were not met because the offenders were young children and could not repay it; according to the victim motives for participation in our textbook, the victim’s emotional needs seem to have been met. Some of the needs that were met are holding the offender accountable (the offender took full responsibility for his part in the crime), learning…
White-collar crime is “a variety of non-violent illegal act against society that most often occur in the business context.” (Kubasek, p.151) One of the white-collar crimes associated with Funny Face and Novelty Now is criminal fraud. Criminal fraud involves several ways in which an individual intentionally uses misrepresentation to gain an advantage over another. Fraud usually has “…the following three elements: (1) a material false representation made with intent to deceive (scienter), (2) a victim’s reasonable reliance on the false representation, and (3) damages.” (Kubasek, p.152) The three elements of fraud are clearly present in this…
All fraudulent individuals have three aspects in common: the opportunity to commit a crime, the financial pressure to ignite thoughts to commit a crime, and the rationalization to make a crime seem less ethically incorrect than it really is to commit (Will et al). Barry Minkow, after gaining high power and praise in the market by reporters and Oprah Winfrey herself, had all three of these aspects allowing him to commit his fraudulent white collar crime worth more than $200 million on paper (Ciulla). When Minkow was 16, he started his own carpet cleaning business in his parents’ garage under the name of ZZZZ Best (Ciulla). People viewed Minkow as a prosperous young entrepreneur, but they didn’t know that his carpet cleaning business was all…
The experts don’t think of the financial standpoint of their clients, they just proceed without single or little care, just like someone committing identity theft. When the criminal is stealing someone’s identity they don’t care to do a background check and see their income or their financial stability, they just proceed by only thinking about…
1. What are two major setbacks or shortcomings of the UCR? The Uniform Crime Report (UCR) which is a compilation of criminal statics that has been submitted to the Federal Bureau of Investigations (FBI) by local law enforcement agencies. The UCR is divided in two crime Indexes, Index I and Index II.…
Your examples are exemplary. You said it better than I did for the occult example. Also, I think your overt example is an example of covert fraud. For example, trading medical equipment for VIP seat and tickets can be hidden from plain sight. An example of overt fraud can be that a new coder isn’t doing their best to make sure the superbill is properly updated and just uses it as it is.…
Taxpayers Hurt by Scam “Food Stamp Scam Costs Taxpayers $330 million” authored by Laura Crimaldi was published on November 20, 2011, appearing in the Las Vegas Review- Journal. The article details a scam that some food stamp recipients were taking advantage of. Crimaldi opens the article detailing a scam that has cost tax payers as much as $330 million dollars a year (P. 2). The scam involved small businesses exchanging money for the customer’s food stamps, a federal offense that has resulted in 597 convictions and over $197 million in fines (P. 3). The author asserts that fraud of food stamps almost always happens at the bottom fifteen percent that handle food stamp transactions (P. 4).…
Beginning mostly in the 1960s and 70s, some welfare applicants have found a loophole in the government aid system. People have been trading in their food stamps for money and buying expensive things they do not need, but things they want. People have also been trading their government checks in for drugs. In 2010, the Los Angeles Times reported that 24% of welfare users have later committed fraud due to inaccuracy of their claims of needing help (Wee, 2016). That percentage has gone down considerably in 2012.…
White collar crime, for all practical purposes, is just high-end criminals getting away with fraud and other felonies by hiding behind corporate veils and political agendas with little regard for their victims. Whether considering the elite white collar criminals like Madoff or the middle class violators, this cross section of criminals is different. In attempt to put aside the obvious favoritism and lopsided application of the law, white collar crime has the tenets to more than adequately fill the shoes of a couple different crime theories so nicely occupied by blue collar or no collar criminals. However, first, a definition is in order.…
A big explanation for why people commit fraud would obviously be the money but it may be even deeper than that. Researchers and economist suggest that empathy has a big part in fraud. We may help someone because we like them or identify with them. A study was done at Washington University on emission testers that were “illicitly” letting failed cars pass. The study shows that high-end cars such as BMWs failed more often than average-end cars like Honda civics.…
Essay Outline White-collar crimes, although not discussed very often, are on rise. When one hears the word crime, they are inclined to think violence or an unethical abuse of some sort. However, people rarely take corporate crimes such as fraud, theft, forgery, or embezzlement into a higher regard, as they do not highly affect the common citizen personally. Studying these executive crimes is important to raise awareness of deceit within society, and to protect and prevent unethical practices from occurring. The latent impact of these white-collar crimes is the emotional trauma, blackmail, and loss of finances.…
We have discussed throughout the length of this course the many different ways that the general public and individuals can be victimized. However, for the purpose of this paper, we are only going to look at how they can be victimized whilst on the job or because of their job. The people that I will be looking at in this section are particularly police officers, but also attorneys, judges, and people of that sort. There are many ways that those that work in the system can be victimized.…
White-collar crimes may seem harmless, but can take toll on families, investors,…