although the terms computer crime and cybercrime are more properly restricted to describing criminal activity in which the computer or network is a necessary part of the crime‚ these terms are also sometimes used to include traditional crimes‚ such as fraud‚ theft‚ blackmail‚ forgery‚ and embezzlement‚ in which computers or networks are used to facilitate the illicit activity. So basically it is a criminal activity committed on the internet. This is a broad term that describes everything from electronic
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Corporate crimes happen when the business enterprise use legitimate and illegitimate business practices. Crimes committed by the corporate enterprises vary and includes fraud‚ conspiracy‚ racketeering‚ environmental damage‚ or even homicide when agents of the company commit criminal acts to benefit the company or its shareholders. However‚ according to Alder et al. (2013)‚ multinational corporate crimes are a widespread and daily problem‚ so politicians have taken the opportunity to implement tougher
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respective corporations‚ most of which involve internal fraud. Internal fraud has two main aspects‚ misappropriation of assets and fraudulent financial reporting‚ with the focus of this discussion lying within the former. Misappropriation of assets is defined as fraud for personal gain. It is the most common type of fraud found among employees and frequently includes theft of cash and inventory. Misappropriation of asserts‚ better yet‚ fraud in general‚ is relevant to and pivotal for accountants
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this project‚ you will be expected to apply what you have learned in this course and should include several of the following course objectives: 1. Review‚ detect‚ and investigate possible financial statement fraud 2. Use various techniques to identify financial statement fraud 3. Explore substantive analytical procedures Main Elements Background: 1. When did the SEC file charges against some senior executives of Waste Management? 2. Who was charged relevant to the above
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forms of crime‚ and new ways to commit old forms of crime. For instance‚ phenomena such as phishing‚ pharming‚ and the diffusion of viruses and worms were completely non-existent before the arrival of the internet‚ while long existing crimes such as fraud‚ theft‚ and even terrorism can now all be committed in new (and sometimes easier) ways in the cyber world. Due to its decentralized structure‚ users of the internet can enjoy high levels of anonymity‚ with little risk of being traced. Consequently
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Inefficiencies in the processes of accounting may amount to a professional scandal. Accounting scandals or fraud can be explained in various ways. Accounting fraud is a deliberate and improper manipulation of the recording of sales revenue and/or expenses in order to make a company ’s profit performance appear better than it actually is. Things that companies do that can constitute fraud are: not listing prepaid expenses or other incidental assets‚ not showing certain classifications of current
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Case study on WorldCom THE WORLDCOM FRAUD:- Presented By: Pratik WorldCom’s Background • Awoke the sleeping giant by leading the telecom industry into profitability in the 90’s. • During the 1990’s‚ WorldCom was deeply involved in acquisitions and completed several “mega-deals” • Purchased over 60 firms in 2nd half of the 90’s • WorldCom moved into Internet and data traffic • Handled 50% of US Internet traffic • Handled 50% of e-mails worldwide WorldCom’s Background (cont.) • Purchased MCI for
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AICPA‚ “Forensic Accounting is the application of accounting principles‚ theories and discipline to facts or hypothesis at issues in a legal dispute and encompasses every branch of accounting knowledge.” According to The Accountant’s Handbook on Fraud and Commercial Crime‚ Forensic Accounting is the application of financial skills and an investigative mentality to unresolved issues‚ conducted within the context of the rules of evidence. Forensic Accounting borrows knowledge from Accounting‚ Finance
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How to order Checks online in a Quick‚ Safe‚ and Straightforward Manner Many people have difficulty when it comes time to reorder checks‚ when in fact this process merely takes a few minutes to complete. The most common issues that most folks encounter after they order checks or reorder them are as follows: -Provider/Supply -Price -Check styles Our site can teach you straightforward ways to order and reorder checks online. Whether it is for private or business use‚ you may never need to pass this
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devices‚ consumer appliances and smart mobile devices. • The company is based in Austin‚ Texas‚ and has design‚ research and development‚ manufacturing and sales operations around the world. Regulatory bodies that are involved to eliminate Financial Fraud 1. COSO And Tradeway Commission: The Bodies are very much involved in establishing an integrated internal system for companies‚ their managements and their auditors. They are designed to provide reasonable assurance that the company achieve its objectives
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