The postscript also will relate subsequent important events in the telecommunications industry‚ the effect of WorldCom’s problems on its competitors and labor market‚ and the impact WorldCom had on the lives of the key players associated with the fraud and its exposure. From Benchmark to Bankrupt Between July 2002 when WorldCom declared bankruptcy and April 2004 when it emerged from bankruptcy as MCI‚ company officials worked feverishly to restate the financials and reorganize the company. The
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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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family. Shockingly enough‚ there were no children to begin with. The women who promised their unborn children to the people‚ who were interested in adopting‚ were not even pregnant. At least six couples in the Midwest were victimized by this adoption fraud scheme. For example‚ in a Florida case a woman contacted over a dozen victims through a forum/ Internet site for people who were looking to adopt a child‚ and posted that she knew a women who was about to “give birth”. All she asked of the adopting
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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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WEB TECHNOLOGIES Click Fraud Bernard J. Jansen The Pennsylvania State University Unchecked‚ click fraud could undermine the sponsored search business model. T oday‚ Web search engines are the primary method for millions of users throughout the world to access information on a topic‚ navigate to Web sites‚ keep up with the news‚ and shop online. Most major search engines generate revenue via sponsored search‚ a process whereby content providers pay for traffic from specific links
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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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Chelsie Akers 1: What is a cybercrime in your own words? Cybercrime‚ also called computer crime because the use of a computer is used as tool to help people meet their illegal ends. Some cybercrime examples are committing fraud‚ trafficking in child pornography and intellectual property‚ stealing other peoples identity‚ or violating privacy of others. 2: What is the extent of cybercrime in the United States? Cyber crimes here in the United States are becoming very
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Brothers Holdings Inc. Chapter 11 Proceedings Examiner’s Report). “Attorney general Andrew Cuomo later filed charges against the bank ’s auditors Ernst & Young in December 2010‚ alleging that the firm "substantially assisted... a massive accounting fraud" by approving the accounting treatment” (LATTMAN‚ 2010). Lastly‚ on April 12‚ 2010 a story broke about the incident concerning Lehman in the New York Times‚ Lehman was caught using a small firm name Hudson Castle‚ they used it to “move a number of
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3001 Individual Report SID : 1155014517 Name : LI‚ Min In 2013‚ China Metal Recycling Ltd. was accused by The Security and Future Commission in Hong Kong as it was involved in accounting fraud. It exaggerated accounts for loan‚ land and its warehouse receipts in its public offering financial statements for 2009. Also‚ its main subsidiary’s revenue was deliberately inflated according to powerful evidence. As a result‚ the CEO‚ Jacky Chun
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The government is going to take you inside the doors of what was once the one of largest telecommunication companies in the world‚ WorldCom and tell the story of how an 11$ billion dollar accounting fraud led to one of the largest bankruptcy filings in history. In the two years before WorldCom declared bankruptcy‚ one man at the helm of the company told lie after lie about the true financial condition of WorldCom‚ lies that artificially inflated his own stock holdings and lies that deprived the
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