Honest services fraud

prevalent form of fraud in the health care system entails the commission of Medicare and Medicaid fraud and abuse committed by doctors or other health care providers. Enacted during the 1960’s, Medicare and Medicaid’s main purpose was to serve the elderly and the poor. At the time of their enactment, there were no concerns for fraud, however by the mid 1970’s, this had changed and continues to be a problem today. One recent article that has exhibited more than one form of fraud involves the…

[Explain your choice of methods, key assumptions, and valuation results here.] A violation of The Foreign Corrupt Practices Act consists of 5 elements: 1) make payments to foreign government officials 2) to assist in obtaining or retaining business. 3) Payment to a foreign government official 4) With a corrupt motive 5) to influence the foreign official in his or her official capacity, or induce the foreign official to do or omit to do an act in violation of his or her lawful duty Along with…

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…

In 1939, the term “white-collar crime” began to be associated with frauds committed by business and government professionals. The phrase was mentioned during a speech given by Edwin Sutherland to the American Sociological Society. Sutherland defined “white-collar” as “a crime committed by a person of respectability and high social stats in the course of his occupation” (White Collar Crime). However, white-collar crimes are described in various ways. The Justice Department characterize…

Belfort, a stockbroker in New York City. It shows from the very beginning of his rise to wealth and fame, all the way to his criminal antics and corruption. Jordan’s firm, Stratton Oakmont, was found to be committing fraud on Wall Street that ultimately led to him being placed in prison on fraud charges. In the beginning of the film, Jordan Belfort is receiving a job as a new Wall Street stockbroker. Mark Hanna, his new boss, introduces him to life on Wall Street. Later on, Belfort becomes…

In the states of Virginia and New York, trades secrets consist of, “of a formula, process, device, or compilation which one uses in his business and which gives him an opportunity to obtain an advantage over competitors who do not know or use it.” Trade secrets are typically protected by nondisclosure agreements. For example, Virginia is one of several states that have adopted the Uniform Trade Secrets Act; however, New York has not yet adopted the Uniform Trade Secrets Act The damages for theft…

business. For small business owners, their personal and professional identity can be so closely intertwined as to be virtually inseparable. If criminals manage to steal your personal information, they may be able to open lines of credit and perpetuate fraud under your name, and that of your business. Not only do the consequences of…

Although in today’s media we hear a plethora of reports regarding hackers and attacks on government agencies, multi-million dollar organizations and small business; it’s rarely brought to our attention that many compromises are made possible by insider threats. Without a doubt it is instantly assumed that a majority of insider attacks are intentional; however, it’s the unintentional insider threats that pose a bigger danger to security. Why is the unintentional insider threat a bigger threat?…

You have worked hard for your assets and investments, so it is important to protect yourself from losing them due to an unforeseen lawsuit. A personal umbrella policy can give you peace of mind knowing that if you are sued, you are protected from an expensive judgment against you. The insurance experts at Montana First Insurance Inc., in Kalispell, Montana, explain why you should purchase a personal umbrella policy and what it can cover. Umbrella policies protect your assets and prevent your…

In the TED talk, “A vision of crimes in the future” Marc Goodman speaks about how advancing technology is used for crime. From terrorists to robbers, the use of technology allows these people to have an advantage over law enforcement. The terrorist attack in Mumbai used modern communications to allow the terrorist to have an advantage over the police by having a live feed of information from a control center. On the other side of crime is the advancing of gene and cell technology. The same…