Fraud deterrence

problem which have resulted in significant financial loss to victims. A few well-known white-collar crime case made headline to aware of the seriousness. They are Enron collapse in 2001, WorldCom financial fraud in 2002, Bernie Madoff Ponzi Scheme in 2008 and Leman Brothers scandal in 2008. These frauds all linked to large amount of money. According to Friedrichs (2009), the financial damage result from white-collar crime in the United States with an estimate of $250 million to $1 trillion.…

In order for the fraud to be successful, it was imperative that the fraud be concealed from the auditors. Being that the bulk of key personnel concerned with the fraud were former auditors for Coopers, this was not hard to attain. These employees knew the audit planning strategies that would be implemented. Coopers historically did not perform audit testing of zero balance accounts, this would mean the “bucket-account” used to hide personal expenses would not be reviewed by the auditors. Coopers…

Is There a Right Password Years ago people use to worry about their homes been burglarized or getting robbed in the store by pick pockets, but, today that is not the case. With the rapid growth of technology every day, cybercrime has taken over from pick pockets and burglars. “crimes conducted via the internet or some other computer” (Evans, Kendall and Poatsy). With all the dilemmas that the society has to deal with, creating a secure password to protect our personal information from cyber…

Although there is no specific crime data for Conley Terminal or the Black Falcon Cruise Terminal, the number and type of crimes perpetrated in South Boston is staggering. In a one month period (12-Sep-16 to 12-Oct-16), South Boston experienced 105 incidents of criminal activity including 27 incidents of theft, 17 incidents of vandalism and 16 assaults. While crime analysis is important, it is not a primary concern for port security professionals. According to Ron Catudal, crime analysis is…

Donald Cressey’s “Fraud Triangle” is a classic model used to clarify a widely-supported hypothesis of why the occupational offender commits fraud. (Sridhar Ramamoorti , Daven Morrison ,Joseph W. Koletar, 2009)According to the ACFE, occupational fraud is“the use of one’s occupation for personal enrichment through the measured misuse or misapplication of the employing organization’s resources or assets. The source of fraud lies in voracity and the opportunity for deception. It has severely…

The fraud perpetrated at Rite Aid could have been detected through the reconciliation of liabilities with monthly statements from the creditors. By reconciling the liabilities with the vendors’ statements, the auditors would have been able to detect any omission of liabilities or the reversal of expenses as was the case at Rite Aid. Also, the auditors could have used analytical procedures such as ratios for the year of audit and compared it to prior periods to detect unusual patterns or trends.…

to buy their product. In doing so, they commit a type of customer fraud by making false claims about the safety of their products. Customer Fraud Overview Customer fraud is a type of unethical business behavior where a company purposely deceives customers through methods such as false advertising and claims. For instance, a company may employ…

In the novel, The Catcher in the Rye, J.D. Salinger portrays the central idea through Holden Caufield’s conflicts with himself, others, and society. Caufield narrates his life from the moment he gets expelled from Pencey, a private school, to when he travels back to his hometown. Through his encounters with other students, a prostitute, his old professor, and Phoebe, his younger sister, Caufield begins to realize that his life has taken a very wrong turn. Salinger uses the internal and external…

Donald Trump is a inspiring well known businessman from Queens, New York. Donald started off with a small loan of a million dollars. He used competency, self motivation, and perseverance to become the man known for saying that he is going to make America great again. Donald is a outgoing person with a vivid personality. He is a family man, he is the father of five children. He has shown resiliency by coming back from several large bankruptcies, and business failures. Donald has come far from…

due course (HDC), the note has to be a negotiable (Professor Murray, lecture, November 14, 2016). In this case, Campbell’s note and mortgage were considered to be negotiable instruments. The mortgagor could verify their protection under the HDC if fraud was claimed. FNMA is a government-sponsored enterprise that is involved in second mortgage markets. For this reason, they are not expected to be experts in evaluating and clarifying handwritten comparisons. In this case, an employee of FNMA named…