"Fraud" Essays and Research Papers

Fraud

was heard stating that if he was out of the picture, the team would fail. Hill’s micromanaging style shows a need to have control over every detail of the business. This type of management is a huge red flag pointing towards financial statement fraud (ACFE, 2012, p.1.238).One of the employees, Sam MacCarty, pointed out that though Ackers is the President of the team, Hill is seen as the one in control. This could lead to a possible resentment of Ackers and the team as a whole. Hill is pulling all...

Premium Accounting software, Accounts payable, Accounts receivable 1250  Words | 3  Pages

Open Document

Fraud

Can corporate fraud ever be eliminated from the workplace? Abstract Corporate fraud has been a growing issue since Enron bankruptcy. The factors that contribute to the occurrence of corporate fraud are hard to control and methods used to prevent and detect fraud both by internal control and outside auditing have unavoidable weaknesses. Despite all the effort being made, it is highly unlikely that corporate fraud can be eliminated from the workplace. Introduction After Enron scandal got...

Premium Audit, Auditing, Financial audit 1427  Words | 5  Pages

Open Document

Healthcare Fraud

Fraud is a serious crime that should concern all parties of the U.S. health care system and is a costly reality that the government cannot overlook. While not all fraud can be prevented, by learning about the many different types of fraud, patients can be educated on how to protect themselves from fraud. If we use government programs to inform the public that they can be targeted, the dollar amount for these cases for fraud can be reduced. An informed public and a properly funded FBI will go a...

Premium Federal Bureau of Investigation, Fraud, Health care 1833  Words | 5  Pages

Open Document

Healthcare Fraud

Kathleen Sibelius announced “nationwide takedown” by Medicare Fraud Strike Force operations, in eight cities that resulted in charges against 89 individuals, which included doctors, nurses and other licensed medical professionals, for their alleged participation in Medicare fraud schemes involving approximately $223 million in false billings. In Chicago, seven individuals were charged, including two doctors, with a variety of health care fraud schemes. This (sixth) nationwide takedown targeted eight cities:...

Premium Federal government of the United States, Fraud, Health care 1734  Words | 5  Pages

Open Document

Fraud Prevention

talking about a fraud hotline program to help detect fraud and also preventing fraud. Fraud Prevention Management is aware of the increased requirements for a public company to maintain a system of internal control to help prevent and detect fraud. The CEO, Mary Moore, is also interested in using a proactive posture toward building an antifraud prevention program, including exploring using a proactive auditing approach to fraud discovery. The internal auditor and the external fraud investigator...

Premium Audit, Auditing, Financial audit 1619  Words | 5  Pages

Open Document

Corporate Fraud

Corporate Fraud I. Introductions a. Fraud in the accounting environment is on the increase. b. Fraud takes place in different forms in the accounting environment. II. The growing risk of fraud and corruption a. Local problems, global pain b. Awareness is crucial c. Tailoring efforts to avert damage III. Preventing Fraud a. Background checks and enhanced due diligence b. Monitoring and evaluating preventive controls c. Continuous controls monitoring IV. Can we eliminate fraud and corruption ...

Premium Audit, Auditing, Auditor's report 745  Words | 3  Pages

Open Document

Fraud Examination

commit fraud because of financial pressures, vices, or because of work-related pressures. As well, perpetrators of fraud can be motivated by a perceived opportunity to commit fraud and the ability to rationalize that what they are doing is not wrong. Their motivations are usually combined into the fraud triangle of perceived pressure, perceived opportunity, and rationalization. 3. The fraud triangle includes three elements that almost always must be present in order for someone to commit fraud: a...

Premium Fraud, Motivation, Person of interest 818  Words | 3  Pages

Open Document

The Auditor and Fraud

PREVENTION AND DETECTION OF FRAUD. The primary responsibility for fraud detection lies with management. This arises due to a contractual duty of care. Directors are able to discharge their duty toward prevention and detection of fraud and error in many ways, for example: * Complying with the Combined Code on Corporate Governance * Developing a code of conduct, monitoring compliance and taking action against breaches * Emphasising a strong commitment to fraud prevention. This involves...

Premium Accounting scandals, Audit, Auditing 1167  Words | 4  Pages

Open Document

Tax Fraud

topic of tax fraud. We will begin by introducing the basic concepts of tax fraud. Secondly, this paper will also delve into some of the laws that have been passed as punishment for those parties that decide to commit tax fraud. We will also highlight some of the more current examples of tax fraud that have been committed and the details that lead to the perpetrators being caught. Lastly we will discuss the role that criminal investigators have in the realm of tax fraud. Tax fraud can be stated...

Premium Fraud, Internal Revenue Service, Tax 1674  Words | 5  Pages

Open Document

Healthcare Fraud

Health Care Fraud 1. Types of Health Care Fraud A. Health insurance B. Drug Fraud C. Punishment 2. Entities involved in Health care fraud A. Social a. Individuals B. Political a. Oversight b. Supreme Court input C. Cultural 3. Technology and health Care Fraud A. Billing Procedures B. Unbundling 4. Ethics involved with Fraud/Economic Impact a. Effects on Health Care b. Monitor outgoing monies ...

Premium Crimes, Fraud, Health care 1998  Words | 7  Pages

Open Document

Healthsouth Fraud

HealthSouth Fraud Case Review Michelle F. White June 6, 2012 HPA 726 Intro to HealthSouth Fraud Case Review In 2003, HealthSouth was accused of one the largest accounting fraud cases in healthcare history and those involved are still being tried today, nine years later. HealthSouth was founded in Birmingham, Alabama in the year 1984 by a respiratory therapist name Richard...

Premium Audit, Enron, Federal Bureau of Investigation 1061  Words | 4  Pages

Open Document

Medicare Fraud

Medicare Fraud | Ms. Iris Hobson- Introduction to Logic | Atinuke Adumatioge | Medicare Fraud Healthcare today is one of the most lucrative businesses in America and many people are trying to take advantage of that. One of the reasons in the transition of street crimes is how much safer it is compared to the drug business. If we take a look at South Florida, we can see hundreds of people living the “high life”. The truth is rarely anybody sells drugs and more than half of those people...

Premium Centers for Medicare and Medicaid Services, Federal government of the United States, Fraud 2440  Words | 6  Pages

Open Document

Accounting Fraud

 Accounting Fraud: A White Collar Crime Accounting Fraud: A White Collar Crime The CEO and CFO of a Swiss security systems company named Tyco, stole 150 million dollars from their company before being caught in 2002. At the height of the scandal, the CEO threw a 2 million dollar birthday party for his wife on a private island with guest performer Jimmy Buffet. After being caught, the CEO and CFO were sentenced to 8-25 years in prison and Tyco had to repay its investors 2.92 billion...

Premium Accounting scandals, Audit, Enron 2205  Words | 7  Pages

Open Document

Fraud Triangle

Discussion Topic #1 The fraud Triangle is a very important tool in seeking to understand why people commit fraud. In the examination of any fraud case according to the Fraud triangle there are three major elements, pressure, opportunity and rationalization. To illustrate the relevance of these three factors we can examine a recent fraud case i.e. the South Carolina Hospitality Association. In this case Rachel Duncan was the accountant for South Carolina Hospitality association, she is charged with...

Premium Embezzlement, Fraud, North Carolina 802  Words | 3  Pages

Open Document

Fraud Triangle

found liable for 67 million dollars by a judge in Miami. Rothstein also implicated his uncle by saying that he worked with bank officials to get them to produce fake documents to help him continue his fraud (Burstein, 2012). Rothstein would not have been able to perpetrate his fraud on investors without the help of his accomplices. In the Miami Herald he is quoted as saying, “The perception of power yields actual power” (Grimm, 2012). Personal characteristics of Rothstein’s Rothstein...

Premium Charles Ponzi, Confidence trick, Credit card 1142  Words | 4  Pages

Open Document

Fraud and embezzlement

How is Fraud and Embezzlement defined as? Fraud is defined “the abuse of a position, or false representation, or prejudicing someone’s rights for personal gain (Serious Fraud Office, 2013). In Moore v. United States, (1895), the Supreme Court defined embezzlement in the following terms: Embezzlement is the fraudulent appropriation of property by a person to whom such property has been entrusted, or into whose hands it has lawfully come. It differs from larceny in the fact that the original...

Free Crime, Crimes, Criminology 1346  Words | 4  Pages

Open Document

Computer Fraud

Computer fraud is the use of information technology to commit fraud. In the United States, computer fraud is specifically proscribed by the Computer Fraud and Abuse Act, which provides for jail time and fines. 1. Unauthorized access at North Bay Abdulswamad Nino Macapayad, a former accounts payable clerk for North Bay Health Care Group, admitted to using her computer to access North Bay’s accounting software without authorization, and in turn issued various checks payable to herself and others...

Premium Computer, Enron, Federal Bureau of Investigation 2607  Words | 6  Pages

Open Document

Adelphia's Fraud

remaining deadlocked on most of the counts against him. Because the Adelphia scandal emerged after the one at Enron, and the company was smaller in size than WorldCom or Tyco, it has garnered less public attention. But for the sheer audacity of the fraud, it ranks high up on the list. Adelphia executives testified that they routinely made up numbers that they gave to investors and lenders, even while the Rigases regularly withdrew money from the company without making reimbursements. Testimony at the...

Premium Adelphia Communications Corporation, Court, Fraud 1545  Words | 5  Pages

Open Document

Fraud at WorldCom

M1. Case Study Assignment: Fraud at WorldCom 1. Who were the major characters in WorldCom? There are a couple of major characters that played their roles in the downfall of WorldCom. Mr. Bernard J. (Bernie) Ebbers, one of the founders of the original small long-distance carrier, was asked to take charge of the company during its early struggles. It was under his tenure that WorldCom began its expanding pursuits and aggressive acquisitions. Although Mr. Ebbers was he head of the company, their CFO...

Premium Bernard Ebbers, Business ethics, Ethics 1019  Words | 3  Pages

Open Document

Fraud and Motives of Insurance Fraud

Motives for the cheats The motives for fraud are clear, it’s a financial crime. People can not pay the bills. They figure stealing from an insurance company which is big and greedy is no great moral wrong and no one will miss the money. However, even if the company is big and greedy it is still wrong. How people get caught by an insurance company Fraud units at insurance companies are experts. But the reason people get caught are for obvious reason. People make stupid mistakes. However, as a word...

Premium Boiler insurance, Damage waiver, Economics 1154  Words | 4  Pages

Open Document

Investigation of Accouting Fraud

Unit 8 Essay Malcolm Johnson Fraud Investigation CJ125 Prof. Ayers 9/23/2012 Fraud Examination and auditing are very much related, but is not the same thing. Because most occupational frauds are financial crimes, there is necessarily a certain degree of auditing involved. A fraud examination involves a lot more than just a review of financial records. Other than a review of financial information a fraud investigation involves interviews, statement analysis, and also public record searches...

Premium Audit, Balance sheet, Financial statements 839  Words | 3  Pages

Open Document

Motivators of Fraud in Health Care

Grantham University Motivators of Fraud in Health Care: Paul L. Ewing G00019834 White-Collar Crime Mrs. Sandra J. Putnam December 25, 2012 What are the motivators of Health Care fraud? At first thought, I suspect it was for the love of money but then I felt like it has to be more to it than that. Why would people risk it all to defraud insurance companies and even the government? After a while, it’s clearly not about the money because the longer a company goes without being caught...

Premium Fraud, Health, Health care 799  Words | 3  Pages

Open Document

Executive Compensation and Corporate Fraud

Introduction: The past decade has been witness to some of the worst accounts of corporate fraud ever recorded, with multi-billion dollar companies such as Enron, Tyco, and World-com involved in serious financial scandals. CEOs and senior executives are often the driving force behind such unscrupulous activities by adopting shady accounting practices and other forms of short-termist actions for the purpose of increasing their firm’s stock price and their own personal wealth. The following paper will...

Premium Board of directors, Call option, Corporate governance 1095  Words | 3  Pages

Open Document

Fraud Case Study

Freddie Mac Fraud Thanaphan Darnsomboon PME604 Project Financial Management National University December 18, 2012 Freddie Mac Fraud The definition of fraud is “an intentional deception or deceit, perpetrated for profit or to gain some unfair or dishonest advantage” (dictionary.com). Fraud is a breach of law and can be punishable by law. Mortgage fraud is one of the financial crimes where a company materially misrepresents or omits information on its mortgage loan documentation in order to...

Premium Fannie Mae, Federal Bureau of Investigation, Fraud 1502  Words | 5  Pages

Open Document

chapter 3 fighting fraud

 Chapter 3 FIGHTING FRAUD: AN OVERVIEW Discussion Questions 1. Fraud prevention is important because it is the most cost-effective way to reduce losses from fraud. Once fraud occurs, there are no winners. 2. Creating a culture of honesty and high ethics helps to reduce fraud in various ways. Management through its own actions can show that dishonest, questionable, or unethical behavior will not be tolerated. By hiring the right kind of employees, management can select people who are...

Premium Enron, Evidence, Evidence law 1192  Words | 6  Pages

Open Document

occupational fraud and abuse on the company

The effect of occupational fraud and abuse on the company Occupational fraud and abuse is defined as “The use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets” (2012 Report To Nations On Occupation Fraud And Abuse, 2012). Occupational fraud entails deceiving employing organization to obtain resources or assets for personal gain and abuse involves misapplication of the resources provided by the employer...

Premium Abuse, Bullying, Circumstantial evidence 959  Words | 3  Pages

Open Document

check fraud and check washing

Check Fraud and Check Washing Week 6 Paper Park University Check Fraud and Check Washing Check fraud and check washing are both highly illegal and both are increasing at an alarming rate. Many people can be fooled in todays world with fraudulent checks and not know that anything was incorrect until receiving notice from their financial institution. Check washing is when mail snatchers will take a check from you and use chemicals to erase the things written on the check and make the check payable...

Premium Cheque, Credit card, Deception 1618  Words | 3  Pages

Open Document

Starbucks Red Flags of Fraud

University Online: ACCT 320-1203A-01 Professor White 6 August 2012 Abstract This paper will provide an overview of Starbucks Coffee Company and identify seven red flags of possible fraudulent behavior within the organization. Steps to design a fraud prevention program will also be discussed based on the identified red flags. Starbucks Coffee Company opened its first store in Seattle, Washington in 1971 offering fresh-roasted whole bean coffees. “Howard Schultz (Starbucks chairman...

Premium Coffee, Coffee culture, Committee of Sponsoring Organizations of the Treadway Commission 2320  Words | 7  Pages

Open Document

Computer Fraud and Crimes

Computer Fraud and Crimes In the world of computers, computer fraud and computer crime are very prevalent issues facing every computer user. This ranges from system administrators to personal computer users who do work in the office or at home. Computers without any means of security are vulnerable to attacks from viruses, worms, and illegal computer hackers. If the proper steps are not taken, safe computing may become a thing of the past. Many security measures are being implemented to protect...

Premium Computer, Crime, E-mail 1013  Words | 3  Pages

Open Document

Miniscribe Fraud Explained

Fraud Examination Executive Summary: Miniscribe By Samantha Altieri, Zac Biesiada, Dan Cohen, and Tim Foley BACC 552 Miniscribe was a computer disk drive manufacturing company that was founded in 1981 by Terry Johnson. The company was initially run out of basement of Mr. Johnson’s home in Longmont, Colorado. Shortly after becoming a publicly traded company in 1983, Miniscribe began to experience financial losses. (United States v. Patrick J. Schleibaum) In 1985 the venture capital firm...

Premium Chief executive officer, Executive officer, Fraud 1329  Words | 4  Pages

Open Document

crazy Eddie fraud case

financial fraud case Crazy Eddie was an American retail store chain run by the Antar family, which was established as a private company in 1969 in Brooklyn, New York by businessmen Eddie and Sam M. Antar. The fraud at Crazy Eddie was one of the longest running in modern times, lasting from 1969 to 1987. Crazy Eddie became a known symbol for corporate fraud in its time, but has since been eclipsed by the Enron, Worldcom and Bernie Madoff accounting scandals. Commencement of fraud The fraud began almost...

Premium Accounting scandals, Audit, Auditing 1860  Words | 7  Pages

Open Document

150 Salami Fraud 1

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...

Premium Embezzlement, Fraud, Grand jury 768  Words | 2  Pages

Open Document

Billing Fraud

Medical Billing Fraud What is Medical Billing Fraud? It is an attempt to fraudulently obtain payments from insurance carriers. Medicare and Medicaid are the most susceptible to fraud because of their payment arrangements. Fraud in medical billing cost tax payers and medical providers millions of dollars annually. In 1996, HIPPA established the Health Care Fraud and Abuse Control Program (HCFAC) to help combat medical billing and health care fraud. Fraud is an act done with the knowledge that you...

Premium Credit card, Federal Bureau of Investigation, Fraud 1005  Words | 3  Pages

Open Document

Insurance Fraud

Elan Insurance Fraud The early warning signs of fraud are, usually, always ignored. There are warning signs for every type of fraud out there. To understand the warning signs of fraud, we must first know what fraud is. Fraud is the intent to trick someone or lie to someone in order to receive financial gain. This definition varies depending of the type of fraud used, but the person committing the fraud is always looking for financial gain. There are many types of fraud out there. You have...

Premium Credit card, Fraud, Insurance 1713  Words | 6  Pages

Open Document

Report on Financial Statement Fraud Scheme

Report on Financial Statement Fraud Scheme Name ACC 556 Date Instructor NameReport on Financial Statement Fraud Scheme TO: Organization’s Management FROM: Learning Team DATE: SUBJECT: Fraud Examination Findings A Summary of the Matter under Investigation Crazy Eddie Electronics Stores a chattered company, traded under the symbol CRXY on the New York Stock Exchange. The company was under management of Eddie Antar family from 1971 until 1987 when Oppenheimer-Palmieri Fund (OPF) took...

Premium Audit, Balance sheet, Crazy Eddie 1405  Words | 3  Pages

Open Document

Crazy Eddie Fraud Case

Cassie Angelucci 9/21/14 Crazy Eddie Fraud Case Eddie Antar came from a low rent neighborhood in Brooklyn from a family of merchants. Growing up poor he had dreams and aspirations of becoming a household name. At the age of 20 years old, Antar opened up his very first store, Crazy Eddie. Crazy Eddie was an electronics store that specialized in low prices and a party atmosphere. The business did very well in its startup years and began to grow. Not long after Antar opened up his first store, he...

Premium Crazy Eddie, Fraud, Takeover 945  Words | 3  Pages

Open Document

Auditor’s Responsibilities in Fraud and Error Detection

Auditor’s Responsibilities in Fraud and Error Detection Auditing October 17, 2011 Auditor’s Responsibilities in Fraud and Error Detection In recent years, scandals such as Enron and WorldCom have not only brought up the question “Where were the auditors?,” but have also brought to our nation’s attention that auditing of public companies must be done with more precision and must have guidelines on the proper way to account for different items. Fraud, illegal acts, and errors happen every day...

Premium Audit, Auditing, Certified Public Accountant 1147  Words | 4  Pages

Open Document

accounting fraud

The 10 biggest frauds in recent U.S. History Enron: The energy company's bankruptcy in 2001 after allegations of massive accounting fraud wiped out $78 billion in stock market value and led to the collapse of Arthur Andersen and the passage of the Sarbanes-Oxley Act of 2002. A class action settlement of $7.185 billion was the largest of all time. Former President Jeff Skilling is serving a 24 year sentence. Bernard Madoff: New York money manager Bernard Madoff's $65 billion Ponzi scheme,...

Premium Accounting scandals, Bernard Madoff, Class action 642  Words | 2  Pages

Open Document

Accounting Fraud at Worldcom

Accounting Fraud at WorldCom LDDS began operations in 1984 offering services to local retail and commercial customers in the southern states. It was initially a loss making enterprise, and thus hired Bernie J. (Bernie) Ebbers to run things. It took him less than a year to make the company profitable. By the end of 1993, LDDS was the fourth largest long distance carrier in the United States. After a shareholder vote in May 1995, the company officially came to be known as WorldCom. WorldCom culture...

Premium Accountancy, Accountant, Accounting scandals 739  Words | 3  Pages

Open Document

Bank Official Arrested for Fraud

Bank Official Arrested for Fraud Continuously new scandals with big businesses continue to arise in the news. A recent article published online details charges that are brought against the former president of a bank in New York. It is as though professionals do not understand that ethics are a key part of business practices and will lead to having a successful business. How one should and does act in business situations is as important as the legal aspects of business. The Park Avenue Bank...

Premium Applied ethics, Business, Business ethics 867  Words | 3  Pages

Open Document

Welfare Fraud

Welfare fraud refers to various intentional misuses of state welfare systems by withholding information or giving false or inaccurate information.  Some common types of welfare fraud are failing to report a household member, claiming one or more imaginary dependents, failure to report income, or providing false information about not being able to work. There have been cases of people feigning illness in conjunction with welfare fraud.             Welfare fraud seems to be a big and expensive problem...

Premium 2012, 2012 phenomenon, Electronic Benefit Transfer 1529  Words | 4  Pages

Open Document

Xerox Financial Fraud Case Analysis

Financial Research – The Xerox 1 Financial Research Xerox Financial Fraud Case Analysis This paper was prepared for Auditing Procedures Financial Research – The Xerox Abstract On April 8th, 2002, the Xerox Corporation ("Xerox") announced its willingness to accept the U.S. Securities and Exchange Commission (SEC) to reach a settlement with the conditions. Thereafter, its financial fraud became surfaced. On June 28th, Xerox Corporation in accordance with the requirements of the settlement...

Premium Enron, Financial statements, Fraud 1618  Words | 6  Pages

Open Document

Investment Fraud

11/28/10 Business 210 Investment Fraud Charles Ponzi will forever infamously known as the con man of the 1920’s. Ponzi dealt with numerous amounts of investors who all trusted him to make them a profit on their investments. Unfortunately, Charles Ponzi was a crook from the start. He bought a total of $30 dollars in IPRC’s and stole about $30 million of his investor’s money. His brilliant idea that landed him in jail was to not buy IRPC’s at all, but to give people...

Premium Bernard Madoff, Charles Ponzi, Confidence trick 1304  Words | 4  Pages

Open Document

Food Stamp Fraud Case Study

Problem and Methodology One of many food stamp frauds was discovered when an employee of New York City Human Resources Administration (HRA) noticed and reported irregularities in HRA’s processing of food stamp applications. The New York City Department of Investigation (DOI) investigated the report and found out that Vanee Sykes with other four people, including current and former New York City employees carrying out a massive food stamp fraud. Vanee Sykes was a supervisor at the New York...

Premium Credit card, Federal Bureau of Investigation, Fraud 1790  Words | 6  Pages

Open Document

Readiness of Government Auditors in Fraud Detection in Malaysia

READINESS OF GOVERNMENT AUDITORS IN FRAUD DETECTION IN MALAYSIA 1.0 PROBLEM STATEMENT 1.1 Public sector governance requires the controlling and accounting officers to discharge their responsibilities of stewardship of public resources by being open, accountable, prudent in decision making, managing and delivering results. The provision of the Financial Procedure Act 1957 also places a high premium for controlling officers to be personally responsible and accountable for propriety and accountability...

Premium Audit, Auditing, Certified Public Accountant 1722  Words | 6  Pages

Open Document

ZZZZ Best Company Fraud: Case Study

ZZZZ Best Company Fraud Case Study 1) At an early age, Barry Minkow was introduced to the carpet cleaning industry by his mother who worked part time as a telephone solicitor for a small carpet cleaning company. This insight of the industry allowed Minkow to understand that the carpet cleaning industry was one which had very few barriers to entry, no licensing requirements, and required only a small amount of capital to enter. Also, because of these few barriers to entry, the industry has historically...

Premium Audit, Auditing, Auditor's report 1765  Words | 5  Pages

Open Document

Case Study About Frauds in Information System

1. Compose a summary of the case. Include how the fraud was perpetrated, the characteristics of the perpetrator(s) who committed the fraud, the role the auditor(s) had in the case, and the direct and indirect effects the incident had on the organization’s stakeholders (customers, vendors, employees, executive committee, and board of directors). Comerica is being sued by Experi- Metal’s for a $560,000 phishing attack to their bank account. Experi- Metal, a custom auto- parts maker, was hit by phishing...

Premium Attack, Attack!, Bank 1392  Words | 4  Pages

Open Document

Consumer Fraud

Consumer Fraud Yolanda Garnett Wilmington University Consumer Fraud Introduction Consumer fraud is a purposeful, unlawful act that deceives, manipulates, or provides false statements to damage others. Fraud is described in the dictionary as “deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage (fraud). Consumer fraud is usually associated with a person or group of people manipulating something to deceive others...

Premium Credit card, Credit card fraud, Crime 2428  Words | 7  Pages

Open Document

Bank Fraud

Bank fraud is a crime that has been around as long as banks themselves. Anytime there is a large amount of money floating around, there are going to be people trying to figure out ways to get to it. In the United States, and most other developed countries, bank fraud is a serious problem that causes billions of dollars in damages every year, and is considered a federal offense. In China bank fraud is even punishable by death. Bank fraud is defined as attempting to wrongfully take money or property...

Premium Bank, Cheque, Credit card 956  Words | 3  Pages

Open Document

Financial Statement Fraud: Lessons from the Zzzz Best Case

ACC 461 Auditing Financial Statement Fraud: Lessons from the ZZZZ Best Case The video “Cooking the Books” discussed the ZZZZ Best case of fraud, it tells how and why fraud was perpetrated by Barry Minkow and why it was undetected for so long. According to the video, ZZZZ Best was founded by Barry Minkow in 1982; when he was sixteen years old, it started as a carpet cleaning company. But, due to high competition in the industry, low entry barriers, and bad internal control, this young entrepreneur...

Premium Audit, Balance sheet, Barry Minkow 1358  Words | 4  Pages

Open Document

Accounting Frauds: ZZZZ Best Company, Inc

examples of Accounting Frauds. The founder of ZZZZ best was Barry Minkow. He was a very smart young entrepreneur when he started the company. He was involved in credit card forgeries prior to starting his own carpet cleaning business “ZZZZ Best Company”. Minkow began his business with small carpet cleaning jobs and he became a multimillionaire in a very short period of time. Minkow met a person named Tom Padgett at Los Angeles Health club. This was the beginning of Minkow's big fraud scheme. Padgett was...

Premium Audit, Barry Minkow, Financial audit 1013  Words | 3  Pages

Open Document

Case Analysis Accounting Fraud at World Com

Running head: CASE ANALYSIS OF THE ACCOUNTING FRAUD AT WORLDCOM Case Analysis of the Accounting Fraud at WorldCom Angela Crossley Troy University October 27, 2008 History The origin of WorldCom can be traced back to 1983. The CEO, Bernard J. Ebbers, of WorldCom had very interesting beginnings. He invested in Long Distance Discount Services (LLDS) with eight other investors, and believed that the telecommunications industry was a very good business venture. In the beginning...

Premium Accounting scandals, Audit, Auditing 1989  Words | 6  Pages

Open Document

Report on Financial Statement Fraud Scheme Case Study: the Importance of Timing

Report on Financial Statement Fraud Scheme Case Study: The Importance of Timing ACC/556 Professor University of Phoenix December 19, 2011 Memo  To: The Management  From: Forensic Auditor  Date: 12/19/2011  Subject: Case Study on the Importance of Timing and Financial Statement Fraud Scheme As our company is in process of conducting investigation to detect any financial statement fraud or abuse, I have come across the case where expenses were recorded in the financial...

Premium Accounts payable, Accounts receivable, Balance sheet 934  Words | 4  Pages

Open Document

Fraud

Group Inc. is a full service investment bank and security firm. Rajat Gupta was found guilty of leaking inside information to the outside, and was sentenced to two years in prison, and some pretty hefty fines. Rajat Gupta was not the average fraud perpetrator he was total opposite at least from the articles description of him. The article states, “Mr. Gupta’s was a classic American success story. He grew up in New Delhi, excelling academically despite the death of both of his parents when...

Premium Berkshire Hathaway, David Viniar, Fraud 534  Words | 2  Pages

Open Document

Internet Fraud

countries. There are now over 50 million people online. All kinds of information are available through the Internet at less cost or no cost at all. The Internet provides facts and ideas that are useful for the society, but the Internet is also a tool for fraud. The Internet “is a system of linked computer networks, worldwide in scope that facilities data communication services such as remote login, file transfer, electronic mail, and news group. The Internet is a ways of connecting existing computer...

Premium Bank, Cheque, Credit card 2352  Words | 7  Pages

Open Document

Insurance Fraud and Pip

Acevedo Paper #1 Assignment Insurance Fraud and PIP Automobile fraud has increased in the past years costing insurance companies millions of dollars in fraudulent claims. Further, this cost is being passed to consumers through increased insurance premiums. Insurance fraud is committed through staged accidents, fake medical treatment, and billing for services not rendered. PIP (Personal Injury Protection) is the primary target of auto insurance fraud in Florida. PIP was implemented by the...

Premium Emergency department, Fraud, Injury 895  Words | 3  Pages

Open Document

Occupational Fraud!

Introduction Occupational fraud is said to be that fraud perpetrated by an employee of an organization against his organization. According to the Association of Certified Fraud Examiners (ACFE), “occupational fraud is the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets.” (ACFE, 2006). These perpetrators use deceit and or trickery to misuse and or steal the resources of the organization for their...

Premium Association of Certified Fraud Examiners, Credit card, Deception 1069  Words | 4  Pages

Open Document

Fraud Study Guide

Association of Certified Fraud Examiners; conducts comprehensive fraud studies; Report to the Nation on Occupational Fraud & Abuse * Fraud - deception that includes: a representation, about a material point, which is false, and intentionally or recklessly so, which is believed, and acted upon by the victim to the victim’s damage. Fraud is an act of dishonesty with the intention to deceive or cover the truth to gain an advantage. Most critical element: confidence. Fraud can be classified as (in...

Premium Confidence trick, Deception, Fraud 1542  Words | 5  Pages

Open Document

Fraud

Forensic Accounting in New Zealand: Exploring the gap between education and practice. Jennette Boys Auckland University of Technology, New Zealand Abstract ‘Accounting practice has always been concerned with fraud’ (Lehman & Okcabol, 2005) The global business environment is rapidly changing and this has resulted in evolutionary changes in the skills accountants need to meet the requirements of their clients so they can continue to add value to their businesses...

Premium Accountancy, Accountant, Accountants 9526  Words | 33  Pages

Open Document

Job sat fraud

commit fraud? Erica Miller Southern Technical College Table of Content Abstract 3 Introduction 4 Definition of Terms 5 Methodology 5 Results 6 References 8 Abstract When people who hear about executives that commit fraud the thing that first comes to mind may be: “They must have really hated their job or company to do such a thing”. That may not always be the case. In some cases it is the CEO or even the founder of the company that committed the fraud. The...

Premium Bernard Madoff, Enron, Fraud 1656  Words | 9  Pages

Open Document

Become a StudyMode Member

Sign Up - It's Free