One of the most common forms of employee fraud that we have been seeing for quite some time involves access to internet banking. Businesses often have two signatories for company cheques but allow full single user access to their internet banking. The result is an accident waiting to happen. An internet banking fraud of $20 million was reported today in the Sydney Morning Herald involved the payroll manager of listed white goods retailer‚ Clive Peeters. Full story : http://business.smh.com.au/
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ISSUES IN ACCOUNTING EDUCATION Vol. 18‚ No. 2 May 2003 pp. 137ñ173 The Tallahassee BeanCounters: A Problem-Based Learning Case in Forensic Auditing Cindy Durtschi ABSTRACT: You are auditing the books of the Tallahassee BeanCounters (TBC)‚ a minor league baseball team in Tallahassee‚ Florida. During your audit the teamís owner‚ Franklin Kennedy‚ approaches you and offers an additional fee if you will quietly investigate the possibility of fraud within the firm. Mr. Kennedy reports that he received
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patient to be able to safely discharge home‚ and back to their daily lives. The company is publicly traded‚ and has seen its share of controversy in the early 2000s. Richard Scrushy‚ founder and former CEO‚ was ultimately acquitted of accounting fraud‚ but was found guilty in civil court. The scandal was colossal‚ and rocked the industry and brought down top executives. The rapid growth of the company and the fraudulent activity impacted thousands of stakeholders. Scrushy was not thinking about
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payroll fraud case‚" n.d.) After criminal charges were filed‚ the State’s Controller’s office released an audit that uncovered inappropriate payroll methods resulting in over $900‚000 in payroll theft between July 2010 and July 2013. ("Former Patton State Hospital employees charged in $800‚000 payroll fraud case‚" n.d.) The Paton State Hospital administration is debating the accuracy of the audit‚ do to questionable calculations. Additionally‚ the Patton Administration stated that the fraud incidents
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Financial fraud is a significant problem faced by organizations of all types‚ sizes‚ locations and industries. Groupon company is trying to shed its image as a failed email-based daily-deals website after a lot of allegations of false financial accounting about their profit to the public. In this case Groupon has to go through again its business model about the spending and earnings for its company. It is expensive to hire 15‚000 workers that works for the company in sending email to Groupon subscribers
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101-C10 Medicaid Fraud in America: Uncovering Wasteful Spending in Healthcare In 2012‚ the State of South Carolina spent $4.8 billion on the Medicaid program. At the end of that fiscal year‚ the US Department of Health and Human Services Office of Inspector General reported that nationwide only $1.4 billion had been recovered in fraudulent cases. “The US spends more than $2 trillion on healthcare annually. At least 3% of that spending-or $68 billion-is lost to fraud each year. Fraud accounts for 19
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CYBER CRIMES AND STEPS TO PREVENT AND CONTROL SYNOPSIS OF CYBER CRIMES Information Technology solutions have paved a way to a new world of internet‚ business networking and e-banking‚ budding as a solution to reduce costs‚ change the sophisticated economic affairs to more easier‚ speedy‚ efficient‚ and time saving method of transactions. Internet has emerged as a blessing for the present pace of life but at the same time also resulted in various threats to the consumers and other institutions for
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Analysis on Credit Card Fraud Detection Methods 1 1 S. Benson Edwin Raj‚ 2A. Annie Portia Assistant Professor (SG)‚ P.G.‚ 2Scholar Department of CSE Karunya University‚ Coimbatore counter the credit card fraud effectively‚ it is necessary to understand the technologies involved in detecting credit card frauds and to identify various types of credit card frauds [20] [21] [22] . There are multiple algorithms for credit card fraud detection [21] [29]. They are artificial neural-network models which
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Archimedes: An Incredible Man or An Incredible Fraud? Archimedes was considered throughout his lifetime as “the great geometer”‚ but did a man as great as this truly exist? Should he be ranked with Newton and Gauss? Archimedes was born 287 BC in Syracuse‚ Sicily‚ which was a Greek City at the time. No one knows his last name or much about his family life because there are no official records. He was educated by a man named Euclid in a school located in Alexandria‚ Egypt. Archimedes lived in a
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Ideal Hero or Freudian Fraud? The entire cast of characters in the Scandinavian epic tale Beowulf all possess archetypal qualities that make them less complex in psychological development than the standard characters in the majority of literature in existence. Beowulf‚ the hero from the land of the Geats‚ acts as a representation of good‚ while each of the monsters he consecutively faces are forms of evil. Since Beowulf appears to be an unstoppable force for the good of the people‚ it would be
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