UNIVERSITY OF MUMBAI PROJECT ON CYBER CRIME IN BANKING SECTOR SUBMITTED BY ASHA VASHUMAL AHUJA PROJECT GUIDE Prof. Mrs. MINAL GANDHI BACHELOR OF MANAGEMENT STUDIES SEMESTER V (2009-10) V.E.S. COLLEGE OF ARTS‚ SCIENCE & COMMERCE‚ SINDHI COLONY‚ CHEMBUR – 400071 Page 1 of 79 UNIVERSITY OF MUMBAI PROJECT ON CYBER CRIME IN BANKING SECTOR Submitted In Partial Fulfillment of the requirements For the Award of the Degree of Bachelor of Management By ASHA VASHUMAL AHUJA
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This also applies to our very own trusted banks. JP Morgan Chase a trusted financial institution has included itself on the list of corporate crimes. These crimes include but are not limited to rigging bids for personal investments‚ home insurance fraud‚ and overcharging the military veterans. As a result‚ Chase illegally pocketed millions of dollars from taking advantage of their clients. What makes this case very intriguing is that Chase is one of the top banks in America. Their clients put great
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Check • Bureau Credit Characteristics • Consumer Portfolio review reports 2005 • Direct Consumer Access • CIBIL TransUnion Score • 0.6 million commercial records • 4 million consumer records • First central repository on Fraud and Mortgage • CIBIL Watchlist • CIBIL Custom Solutions 2007 2009 CIBIL is the leading CIC in India Accelerates solution offerings Changes in regulatory environment brought about significant developments in the Indian credit
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Background of the company Parmalat Finanziaria SpA‚ an Italian food giant started out as a family business specializing in dairy products. It was founded in 1961 by 22 year old Calisto Tanzi‚ who discontinued his studies to expand his father’s sausage and cheese shop. It began as a small pasteurization plant in Parma and further expanded into cheese‚ yoghurt‚ cookies‚ fruit juice and ready-made sauce production that are under different names in each country. They were the ones to produce the world’s
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Cyber-crimes can be divided into two broad categories; the first category involves attacks on computer hardware and software tools‚ such as botnets‚ network intrusions‚ and malware. The category involves cybercrimes of financial nature such as online fraud and penetration of online financial services (Brenner‚ 2010). Others include phishing‚ corporate account takeover and theft of intellectual properties. Cyber-crimes are committed across geographical boundaries‚ with the perpetrators taking advantage
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WYLDECREST PARK LTD Evaluation Accounting System Review the company LIST OF CONTENTS 1. TERMS OF REFERENCE 2. METHODOLOGY 3. COMPANY BACKROUND 4. ANALYSIS AND RECOMANDATIONS 5. COST BENEFIT ANALYSIS 6. APPENDICES A company structure B Direct Debit Form C Payment authorisation forms D Time Logging and
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Tax Fraud Fraud Examination Wed. 7-10pm Millions of people all over the world pay taxes each year. These taxes could include amounts collected by the government or similar organization on behalf of the federal government‚ state government‚ local governments and even other taxing authorities. In 2009 alone‚ the Internal Revenue Service received $1.9 trillion dollars in revenue‚ and completed over 236 million returns. “The tax system in the United States depends on voluntary compliance‚ which
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accounting processes easier. However‚ it has also created significant threats in relation to ensuring the security and reliability of computerised accounting information systems. Using an accounting software package such as MYOB can be vulnerable to frauds if internal controls are not implemented correctly. Fraudulent activities such as unauthorised use of data‚ theft of inventory‚ theft of funds and incorrect financial reporting can be conducted by internal employees of an organisation. Furthermore
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recognize there are some disadvantages as well. Much like any other technical or mechanical advancement there are drawbacks or risks that need to be mitigated in order to enjoy the positives. Here are a few of the disadvantages of the Internet: *Fraud and Theft Fraud and theft is the largest complaint consumers have about the Internet. These cyber crimes impact individuals and organizations and causes serious damage in society. Lurking across the dark corners of the web are identity thieves‚ embezzlers
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The Bernie Madoff Scandal is considered to be the largest financial and accounting fraud in American history. The details of the scandal itself are so complicated and unbelievable that it appears to be a work of non-fiction. Many have tried to gather enough evidence to make sense of what happened‚ but there was never enough evidence to prove when the fraud began. Madoff himself said that the scheme began in the late 1980s or early 1990s‚ but then again we cannot be certain of when it really started
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