When it Comes to Fraud‚ Strike the Shepherd‚ and the Sheep will Scatter. A few weeks ago‚ the story of Nirav Modi‚ an Indian jeweler turned scammer‚ hit the global headlines with the local dailies reporting that he had defrauded the Punjab National Bank a whopping $1.73 billion. Even more amazing is the fact that the fraud did not happen overnight but in six years and under the watch of bank officials. Questions have been raised about how such a blatant scam would happen undetectably and without
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Accounting Fraud at WorldCom 1) What are the pressures that lead executives and managers to “cook the books?” After the rapid evolution of the telecommunication industry in the 1990s‚ WorldCom shifted its strategy to focus on building revenues and acquiring capacity sufficient to handle expected growth. Their biggest goal was to be the No. 1 stock on Wall Street rather than capturing the market share. As a result‚ their Expense-to-Revenue (E/R) Ratio was their measurement for their main objective
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Credit Card Fraud: Prevention How can you prevent credit card fraud? New technology makes it harder and harder to prevent credit card fraud because thieves are always discovering new ways on how to crack and steal credit card and bank account numbers. There is no prevention that can stop credit card fraud 100% of the time‚ but there are ways of helping prevent this from happening. There are many ways and tips that can help prevent this from happening. One way is that credit card companies are
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Nagham Hamid‚ Abid Yahya‚ R. Badlishah Ahmad & Osamah M. Al-Qershi Image Steganography Techniques: An Overview Nagham Hamid University Malaysia Perils (UniMAP) School of Communication and Computer Engineering Penang‚ Malaysia nagham_fawa@yahoo.com Abid Yahya University Malaysia Perlis (UniMAP) School of Communication and Computer Engineering Perlis‚ Malaysia R. Badlishah Ahmad University Malaysia Perlis (UniMAP) School of Communication and Computer Engineering Perlis‚ Malaysia
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Aldana 1 Monique Aldana Professor Ferguson English 101 17 April 2013 Mediumship: Fraud or Genuine? Many attempts to communicate with the dead have been documented back to early human history. The oracles of ancient Greece were consulted for advice‚ and ancient shamans and witch doctors traditionally contacted spirits. People believe mediums mediate communication between the spirits of the dead and other human beings. Although mediumship threatens beliefs of many people and their religions
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era of big data Manage‚ optimize and increase availability of your IBM DB2 for Linux‚ UNIX and Windows database and applications— delivering valuable intelligence to help your business users make informed decisions‚ fast Database management solutions for the era of big data 1 Introduction Accelerate development 2 Optimize performance 3 4 Increase availability 5 Give your business a competitive edge Database management solutions for the era of big data Introduction
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Introduction By June 2002‚ it had become evident to the SEC that WorldCom had engaged in a significant corporate accounting fraud scheme which had overstated pretax income by about $7 billion since 1999. At the time‚ this was the largest deliberate misstatement in US corporate history. Although there are many interesting elements and players involved with this incident‚ for the purpose of this case study I will focus on the role played by Betty Vinson‚ the Director of Management Reporting and
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Health care fraud is a crime that has a significant effect on the private and public health care payment system. According to the Federal Bureau of Investigation‚ all health care programs are subject to fraud with Medicare and Medicaid being the most visible. It is estimated that fraudulent billings to both private and public health care programs are between 3 and 10 percent of total health care programs expenditures. The most recent Centers for Medicare and Medicaid (CMS) statistical estimates project
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Americans leave long electronic trails of private information wherever they go. But too often‚ that data is compromised. When they shop—whether online or at brick and mortar stores—retailers gain access to their credit card numbers. Medical institutions maintain patient records‚ which are increasingly electronic. Corporations store copious customer lists and employee Social Security numbers. These types of data frequently get loose. Hackers gain entry to improperly protected networks‚ thieves steal employee
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several lawsuits from furious investors and created rumors about the future viability of the company. The purpose of this study is to determine the facts and critically analyze the cause and effect of Diamonds Food’s allegedly financial statement fraud and attempt to make a prediction about the future of this company. Allegations of Diamond Foods Inc.’s’ Understatement of Accounts Payable Introduction Diamond Foods’ core competency is in its innovative food packaging
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