purposes. Offenders who perform these unlawful actions are often referred to as hackers (Janssen‚ 2010). There are several different types of cybercrimes‚ however four of the most common cybercrimes are: cyber fraud‚ cyber theft‚ stalking‚ and hacking. Federal law classifies computer fraud as the use of a computer to initiate a deceitful misrepresentation of fact as an attempt to persuade another to do or refrain from doing something which causes
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Internet fraud is a problem that has become very widespread in recent years. Internet fraud was first monitored by the Internet Fraud Watch organization in 1996. The Fraud Watch has stated that each year after its inception internet fraud has increased. In 1998‚ the Securities and Exchange Commission established the Office of Internet Enforcement to fight online securities fraud which was another sign of how large the problem is becoming (Clausing). Despite the SEC¡¦s efforts this problem has
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Conflict on a Trading Floor The details of this transaction In this case study‚ the action takes place on the trading floor when Poseidon Cruise Lines wants to finance the construction of a new cruise ship that will be built by a French shipyard. The shipyard required payments in francs which created currency risk for Poseidon. Linda‚ a top salesperson‚ was assigned this transaction. She had developed a close relationship with the chief financial officer and treasurer over a year and a half of
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Enron’s origins date back to 1985 when it began life as an interstate pipeline company throughthe merger of Houston Natural Gas and Omaha-based InterNorth. Kenneth Lay‚ the former chief executive officerof Houston Natural Gas‚became CEO‚ and the next year wonthe post of chairman. From the pipeline sector‚ Enron began moving into new fields. In 1999‚ the company launched its broadband services unit and Enron Online‚ the company’s website for trading commodities‚ which soon became the largest business
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pirating‚ not paying taxes‚ or telecommunication fraud. Such broad spectrum can involve any person in every social class. Furthermore‚ the types of fraudulent activities can easily be social stratified. For example‚ a Wal-Mart cashier would probably never be involved in insider trading or bank embezzlement‚ yet she/he could fail to pay taxes or steal credit card data from customers. On the other hand‚ a CEO from a very large bank can easily be engaged bank fraud‚ and a government official can be prosecuted
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Make sexual harassment a crime‚ say NGOs KUALA LUMPUR: Sexual harassment must be made a criminal offence to address the rising number of occurrences in the country‚ 11 NGOs said Saturday. As sexual harassment was not a crime in the Penal Code‚ employers could choose implement an ethical code against it or not‚ said Association of Women lawyers member S. Prema at a press conference at the launch of a joint committee consisting 11 NGOs in Petaling Jaya. The committee SH-out (Sexual Harassment out)
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How the Fraudsters Fool the Auditors History of financial statement frauds acquisition accounting related party transactions non existent bank accounts - relationship with auditors overstated bank balance off balance sheet accounting misleading disclosures Changes occurring from Sarbanes Oxley Higher standards for corporate governance and accountability Creating an independent regulatory framework for the accounting profession Enhancing the quality and transparency of financial reports Developing
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forensic accountant should know are: Accounting‚ Auditing‚ Investigative‚ Evidence gathering‚ and Problem solving skills.[ The skills needed for Forensic Accounting‚] by: Michelle Hickman. The Forensic Accountant investigates white collar crimes such as fraud‚ incorrect financial reporting‚ and illegal investment schemes. Forensic accounting is probably the fastest growing area of accounting today. “Forensic” means “suitable for use in a court of law”‚ and it is to that standard and potential outcome that
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include the impact of occupational fraud and abuse on the company and how the governmental oversight of accounting and fraud affects the company. The report will also provide potential corruption schemes to be aware of in the company and a recommendation of types accounting evidence and methods of gathering such evidence to support the financial status review. The Impact of Occupational Fraud and Abuse on the Company According to Wells (2011)‚ Occupational fraud and abuse is defined as the use of
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CASE STUDY: MARCH 2012 SEMESTER I. Analyze the case and respond to the following questions: a) Discuss the earnings management techniques employed by the management of Satyam. Earning management or creative accounting is referred to the manipulation or misrepresentation of the company’s financial earnings in order to achieve stable and positive financial position. This was achieve through directly or indirectly use of the accounting methods. Even though the manipulation may follow all
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