Chapter 1 | | Association of Certified Fraud Examiners (ACFE) | An international organization of approximately 50‚000 members based in Austin‚ Texas‚ dedicated to fighting fraud and white-collar crime. | Civil law | The body of law that provides remedies for violation of private rights—deals with rights and duties between individuals. | Criminal law | The branch of law that deals with offenses of a public nature or against society. | Customer fraud | Customers not paying for goods purchased
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Prior to his fraud discovery‚ Russell Wasendorf‚ Sr. was falsifying and forging manual bank confirmations to verify the company’s “increasing” cash balances. In addition‚ he utilized scanners‚ printers‚ and post office boxes to fool external auditors as well as the National Futures Association. Eventually Wasendorf’s twenty-year fraud scheme unfolded when electronic bank confirmations proved that he had been falsifying records and stealing from Peregrine Financial Group customers. If the electronic
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SYLLABUS Cambridge IGCSE® Literature (English) 0486 For examination in June and November 2014 Cambridge International Certificate Literature (English)* 0476 For examination in June and November 2014 *This syllabus is accredited for use in England‚ Wales and Northern Ireland as a Cambridge International Level 1/Level 2 Certificate. University of Cambridge International Examinations retains the copyright on all its publications. Registered Centres are permitted to copy material
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A How to Manual to Commit Medicare Fraud “Biggest Medicare Fraud in History Busted.” “Dallas Doctor Arrested for Alleged Role in Nearly $375 Million Health Care Fraud Scheme.” These are headlines from www.abcnews.com and a press release from the US Department of Health and Social Services from February 28‚ 2012. The press release continues‚ “The FBI views health care fraud as a severe crime problem. It causes increased costs for consumers‚ tax payers and health insurance plans‚ and degrades
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fact that Donnelly’s supervisor had only submitted $40‚000 in travel and expense reimbursements that year. It turned out that Donnelly had been using several different schemes to accumulate such an outrageous amount of travel and expense reimbursements. The first of these schemes would be the mischaracterized expense reimbursements scheme. The flow of fraudulent behavior follows Exhibit 7-4 in Wells text. Donnelly incurs a non-business expense such as a personal flight to Italy. She prepares the expense
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Salami Fraud (1) by M. E. Kabay‚ PhD‚ CISSP Associate Professor‚ Computer Information Systems Norwich University‚ Northfield VT The recent disclosure that WorldCom concealed almost $4 billion of expenses as if they were asset acquisitions and thus falsified its accounting reminds me of the very opposite kind of fraud – one that involves lots of little thefts instead of one gigantic theft. In the _salami fraud_‚ criminals steal money or resources a tiny bit at a time. Two different etymologies are
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Five Governmental Organizations to Report a Scam in the United States The United States takes fraud very seriously and the majority of its government organizations dedicate time and specific teams to investigate and combat fraud from occurring within the government and governmental agencies. If you work within one of these sectors‚ you usually can safely report a scam under the protection of a whistleblower policy. If you witness this as a normal citizen‚ you can feel secure with the same protection
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COVENANT UNIVERSITY‚ COLLEGE OF DEVELOPMENT STUDIES‚ SCHOOL OF BUSINESS‚ DEPARTMENT OF ACCOUNTING COURSE: FORENSIC ACCOUNTING COURSE CODE: ACC 416 WEEK: 10 TOPIC: FORENSIC ACCOUNTING AND FRAUD AUDITING OBJECTIVE: To acquire the knowledge and skills about forensic audit‚ its reporting and documentation. THE CONTEXT OF FORENSIC AUDITING Forensic audit encompasses the examination of evidence regarding an assertion to determine its correspondence to establish criteria carried out in a manner
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the raw materials used are imported‚ or are stolen. Fraudulent bonds‚ permits and entries Bonds are like insurance. These are promises or declarations that in case of non-performance the bond shall be taken by the beneficiaries. In the tax of tax fraud the bond referred to here are actually non-existent and are never enforceable in the tax authorities decide to exercise the right to take the bond such as failure to pay an installment on a tax deficiency or tax return. Another criminal offense is
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Bernie Madoff Fraud Case Bernie Madoff Fraud Case Introduction One of the largest fraud cases of all times is that of the “Bernard Madoff Case.” According to Armstrong (2008)‚ “for a number of years Madoff managed to lure billions of dollars away from huge charities‚ as well as wealthy individuals in both the United States and Europe by getting them to invest in his hedge fund. This he did by offering extraordinary returns to investors‚ until his scheme eventually reached a staggering $50
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