References: Adeoti‚ J. (2011). Automated Teller Machine (ATM) frauds in Nigeria: the way out. Adini (2010). Nigerian banks look to biometric ATM machines to reduce fraud. Bhargav-Spantzel A.‚ Squicciarini A.‚ Bertino E.Kong X & Zhang W.(2010). Biometrics-Based Identifiers for Digital Identity Management. Consultative Group for International Agricultural Research‚ CGIAR
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for breach of contract regarding the bees and hives‚ Buyer must establish that there was a valid contract. To establish breach of contract‚ Buyer must show there was an offer and acceptance supported by consideration. Bilateral Contract One in which there are mutual promises between two parties to the contract‚ each party is both a promisor and a promise. Right and duty on each side‚ in which a promise is established on both sides. UCC or Common Law UCC governs contracts under the sale
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What specific audit procedures might have uncovered the Parmalat fraud earlier? Parmalat went from recording annual sales of 7.6 billion euros in 2002 to being declared insolvent a year later. The collusion at Europe’s Enron made it possible for Parmalat to defraud its investors of billions. The auditing procedures used by Grant Thornton and Deloitte were inadequate. Many of Parmalat’s assets were overstated and its liabilities understated. The auditors did not adequately test the Special Purpose
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3.How to detect the fraud? There are many ways to detect the fraud .They can simply be divided into two categories One is quantitative analysis‚another is qualitative analysis. In quantitative analysis‚the sample is fifty thousand investment company which issued form ADV ‚ form ADV is required to issue to SEC when the investment company’s client number more than 15 people or the size of asset under management is larger than $ 25 million ‚ if you did not issue the document or it is not correctly
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DURESS 1. Generally If one party pressures the contractual consent of another by duress the contract is voidable by that other party (See Also s 52A TPA and s 39 FTA). The common law has long recognised that duress‚ in the form of coercion of the plaintiff’s will through illegitimate pressure or threats to the plaintiff’s interests‚ render a contract voidable (Barton v Armstrong). Traditionally‚ the common law concept of duress was limited to actual or threatened violence to the person of
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The Global Fraud Survey not only provides information about different types of frauds schemes and characteristics of fraud perpetrators but also provide a deep insight into the red flags associated with it. According to Survey‚ Two thirds of frauds were committed by males‚ between the age of 31 and 45‚ and male perpetrators have caused twice the loss as compared to women perpetrators. According to the article‚ only 7% of fraud perpetrators had previously been convicted or charged with fraudulent
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1. Where does the Madoff fraud fit into the ACFE taxonomy of occupational fraud and abuse: asset misappropriation‚ corruption or fraudulent financial statements? Which specific type(s) of fraud does it exemplify? (Primary author: Yeseul Jeong) Madoff was one of the biggest and most trusted firm in Nasdaq traded stocks. Many people trusted his firm and made investments to it. Madoff’s firm was called “BMIS”: “Bernard L. Madoff Investment Securities LLC” (Gregoriou‚ and Lhabitant 89). Madoff made
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Topic 3: Breach in contract 1) Breach of contract: Spanish Contract Law provides a broad notion of breach of contract for any behavior that departs from the specified behavior in the contract in any way (time‚ quality‚ substance‚ etc.) or is not specially justified on legal grounds (actions forbidden by the government are not breaches since they are justified on a legal ground). The general benchmark to determine breach is the contract agreed by the parties themselves‚ and not external notions
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"Corporate Fraud" when you hear those words the first‚ most recent incident‚ many think of is The Enron Scandal. This same scandal produced the Public Company Accounting Reform and Investor Protection Act of 2002. This much needed act created the Public Company Accounting Oversight Board under the Security Exchange Commission ’s supervision. This board sets accounting standards and investigates Certified Public Accountants and companies to ensure they are following the guidelines set forth. This
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MEDICAL FRAUD In this abstract‚ I will explain the specifics of my research and a detailed outline of my paper. Understanding the topic of medical fraud and off labeling is important‚ especially for consumers who participate in the use of prescription drugs. It is imperative to understand what your doctor is prescribing and knowing the specific uses of said drug. Off labeling may occur and recognizing this fact will only benefit a wise consumer and make them aware of the risks of using a drug
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