Honest services fraud

Bribery and corruption is an issue that is very happening in most of the countries. What is bribery and corruption? Bribery is a practice of offering something to gain certain advantage, for example: money, assets, gift and so on and so forth, and corruption is when an individual itself abuse its power to gain an undue advantage. Bribery is an unethical behavior and it is also very unfair practice, for example: the employer pay people for their normal job is called wage, and when the employee…

Before the Sarbanes-Oxley Act, in health care frauds, it has been the companies that have paid large settlements and the executives responsible have walked away with their profits. However, with this Act, executives are now personally responsible for any misstatements. The main objective of the Sarbanes-Oxley Act was to “enhance corporate responsibility, enhance financial disclosures, and combat corporate and accounting fraud” (sec.gov/about/laws.shtml). “This Act requires that Chief Executive…

Targeted Attack Ramsonware has been a one of the main cyber threats to business organization. Ransomware are usually targeted organization since the main objective of the attacks is to ask for money from the victims. Organizations created and stored numbers of information or data in their system everyday which are increasing from day to day. Moreover, cybercriminals has already learnt an investigated about their victims before attacks, for sure they will targeted an organization that earns such…

and in December 2001 it was rebranded as BenQ. Currently, the company has manufacturing plants in Malaysia, Mexico, China and Taiwan and it provides jobs to over 13,500 employees all over the world, supporting a strong global sales marketing and service network spanning Asia-Pacific, Europe and the Americas. For many years, BenQ had been a consumer electronics contract manufacturer but later it expanded to include many clients like cell phone Motorola and Nokia. BenQ’s Chairman Lee frequently…

Scrushy, the Chief Executive Officer of HealthSouth, sold $100 million in stock few days before the corporation published a huge loss. HealthSouth was sued by the U.S. Securities and Exchange Commission (SEC) because accounting fraud of the corporation allegedly overstating profits by $1.4 billion. (Aguilera, 2015) In 1996, Scrushy had directed the firm’s accountants and executives which misstated company revenue for the purpose of satisfied shareholders’ expectations and control…

commodities, and Services Company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 20,000 staff and was one of the world leading electricity, natural gas, communications, and pulp and paper companies, with claimed revenues of nearly $101 billion in 2000. At the end of 2001, it was revealed that it’s reported financial condition was sustained substantially by institutionalized, systematic, and creatively planned accounting fraud, known as the…

What do you think of when you hear the word “Hacker”? You probably think of some criminal trying to gain access to your bank account or take over your technology. The term “hacker” has gotten a bad reputation due to their portrayal by the media. The word “hacker” has been changed so much by the media that people believe all hackers are criminals and want to do harm. However, this is not the hacker's goal. The truth is hackers are people who intend on bettering the system., besides all of the…

of the Problem Cybercrime is a word used to portray criminal action involving computers or computer networks being used as an instrument, an objective, or a setting of unlawful acts and incorporate everything from electronic cracking to denial of service assaults. It is likewise used to describe conventional misdeeds where computers or networks are used to facilitate criminal activity. Cybercrime can involve computer viruses, cyberbullying, cyberstalking, identity theft, malware, and spam.…

Missed Alarms and 40 Million Stolen Credit Card Numbers: How Target Blew It 1. Who are the stakeholders in the Target breach? The main stakeholders are their shareholders, the clients that had their personal information stolen, and individuals with an ongoing connection with Target organization whose personal information was or might have been compromised. Stakeholders who are affected or worried that they might be harmed start to mistrust the firm and its complacent-sounding promises. 2. What…

with violating anti-fraud provisions of the Securities and Exchange Act and ‘aiding and abetting the reporting, record keeping and internal controls provisions of the Exchange Act.’ Between 1999 and 2002 their revenues increased from $44 million to $64 million primarily from the Veterinary Division that accounts for over 50% of Virbac’s total revenues. Their stock rose from 1.125 to 8.35 from 1999 to 2002, respectively. The following Virbac employees were involved in the fraud; Thomas L.…