Fraud

In America, there is a growing problem that exists with money fraud, laundering and sly scams. “Americans are criminally defrauded of $12.76 billion annually,” (Kita) a number that will continue to rise with the prevalence of technology being used in the work space and also in the common day household. People can be tricked into giving their money away in a variety of ways. In “The Canon’s Yeoman’s Tale” in The Canterbury Tales by Geoffrey Chaucer, he elaborates on this idea, and allows us to…

Many people believe that they will never be a victim of identity fraud but everyone is vulnerable to it. Identity fraud is America’s fastest growing white collar crime. Identity fraud is a term used to refer to all types of crime in which someone wrongfully obtains and uses another person's personal data in some way that involves fraud or deception, typically for economic gain. The most common forms of identity theft occur when someone obtains another person's social security number, driver's…

The nature of the inaccuracy is credit card fraud from multiple people. The person’s identity had been stolen, which caused this misuse of information. They became aware of the situation when the person received several phone calls from credit card companies threating her to pay her dues. She went to a lawyer to explain her situation and help her resolved her issue. An identity theft claim was established to correct the misinformation and to cancel any usage or approval of future credit cards.…

Workers compensation fraud, on the other hand, is when an employer, claimant or health care provider lies in order to gain money, advantage, and other benefits. There is a common misconception that workers compensation fraud only happens on the employee’s end but that is not always the case. Insurance fraud is one of the most expensive and common types of fraud, costing billions of dollars each year in damages across the country. Most companies never pursue insurance fraud investigations,…

Unfortunately in the corporate world there had been internal fraud committed by employees no matter what type organizations they are-nonprofit or profit-and this situation occurs more than anyone thinks it does. Embezzlement happens most frequently to not for profit organizations that have not taken active steps to prevent it. In addition, once any type of fraud or financial mismanagement is detected, many nonprofits do not handle the information properly or understand their responsibility;…

Certified Fraud Examiners (ACFE) defines fraud as “deception” or misrepresentation that an individual or entity makes knowing that it could result in some unauthorized benefit to the individual or to the entity. Approximately 10% of incidents concerning in white collar crime is fraud. Financial statement fraud occurs in many ways which results into understatement of liabilities or expenses and overstatement of revenue and assets. However, corporations hire forensic experts to do the fraud…

Fraud Symptoms Even though Walker successfully concealed her theft for a long time, some red symptoms of fraud still could be noticed if we pay closer attentions as follow: Higher amount of sales returns every time the embezzler works In a retail store, the amount of sales return generally is relatedly stable since the store has sales operation control. Assumed the fact that during the period which Walker committed fraud, every time when Walker worked, the number or amount of sale returns…

but Falcone participated in inventory and all other assets misappropriation, which led to larceny. By not telling investors of the misappropriation, he eliminated warning signs (Wells 2001) (Philip A. Falcone and Harbinger Charged with Securities Fraud 2012) (Neubauer 2012) (Roche 2013). (See Exhibit B for more information on…

creditor committed a fraud by preventing someone from bidding or by chilling the bidding, challenging…

$11-billion-dollar fraud, making it one of the largest in all time. Spearheading the scandal were six employees, Bernard Ebbers the CEO, Scott Sullivan the CFO, David Myers the accounting controller, Buddy Yates the Accounting Director, and Betty Vinson and Troy Norman the accountants. The scandal went to federal trial, and after six days of jury deliberation, all six of the employees that were part of the scandal were found guilty. Bernard Ebbers was found guilty of Securities fraud,…