Insurance fraud

preferred mode of payment because of the ease of use. This leads to data breach by criminals to access huge amounts and acquire debit card information. Large-scale data breaches of major retail chains are currently common. If there are a number of debit frauds against an enterprise customer satisfaction is not met and thus they stop availing the service. To save customers loss and prevent customers from becoming the victim of such activities, many enterprises are deploying AML software. Key…

accounting firms, failed their duty as auditors and overseers of the accounting profession. As external auditors, they have a duty to detect any fraud and irregularities and fell short of that duty. Instead, the well-known accounting firm simply stated that it “was unaware of a break in accounting rules” (Accounting Web, 2002). After a $3.8 billion fraud, Andersen responded by saying, “Our work for WorldCom complied with SEC and professional standards at all times. It is of great concern that…

perks imaginable. It makes you wonder what it would take for someone to throw all of it away. This is a case about a man who was blinded by friendship. All he wanted to do was help his friend – we can all relate to that. If you were asked to commit fraud, would you do it? Would you aimlessly follow your boss’s orders like Harold Katz? Or would you follow in Jackie McLaughlin’s footsteps and challenge your boss? Many people find themselves in these unethical situations and a lot of them fall for…

Company Fraud In the 1970’s “fair trade” laws allowed manufacturers to require retailers to sell merchandise at the same price to avoid price competition for their products (Antar, 2011). This type of regulations force Eddie Antar to look for a different alternative in order to remain in business. It appears as if his only options were to purchase overseas and overstock from other retailers. Crazy Eddie stores had one goal in mind; sell a product to every customer that walked into their stores.…

Advanced development in the technology of computers and communications, the world definitely profited a lot. However, this has come at a scary price for many. Computer crimes have become a serious problem, costing millions of dollars. “Ranking at 23%, United States has the worse computer crimes.” (Sumo3000, 2016). Despite the fact, other countries are becoming more reliant upon the internet for business and government purposes they are at jeopardy too. Computer crimes are threatening the…

It is common for criminals to use computers and internet to commence their crimes. It is not just the faceless organization targeted by cybercriminals but individuals who feel the repercussion well after being victimized. This paper will review computer crimes that involve identity theft, cyberstalking and child abuse. Identity theft can rob someone of their life savings, ruin credit ratings which can effect careers and weaken purchase power. Cyberstalking victims face tremendous stress living…

Financial Statement Fraud Company financial statements provides information that is utilized by investors to evaluate the conduct of managers and to compose economic arrangements (Chinniah, 2015, p. 1). The consumers of the financial statement may consider the financial information received as dependable and appropriate for its function (p. 1). Chinniah indicates accounting standards and regulations have been put in place to try to certify the financial information provided is consistent with…

Lord Moulton claimed ethics is “obedience to the unenforceable” (CS). In other words, ethics are moral principles, rather than written and defined laws, that dictates an individual 's decisions and behavior. In the corporate environment, ethics aids in the ensurance that business will conduct in a trustworthy and respectable manner so clients are treated fairly. However, with the desire and the possible underlying goal to maximizing profits, corporations often are faced with ethical dilemmas,…

Ergo, do corporate governance frameworks of organisations need to take action to cover the fraud risk of Ponzi schemes? On initial consideration one would think it unlikely, as organisations can be expected to have reasonable investment insight, business know-how and resources for active investigation. Nonetheless, even though one would assume…

After being charged with securities fraud, stock manipulation, money laundering, and other organized crime tactics (NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC), Belfort was sentenced to 4 years in prison and a $110.4 million dollar fine. However, after pleading guilty to fraud and money laundering along with testifying against his fellow associates, Belfort was given a reduced sentence of 22 months in Taft Correctional Center where he later wrote his biography. Daniel Porush was also…