First of I will list them and then explain what they mean. 1. Floating 2. Theft Protection 3. Credit History 4. Card Benefits 5. Tracking expenses 6. Fraudulent Purchases Now I will provide a detailed explanation of what each is and why it is beneficial. 1. Floating‚ you’re probably imagining something floating in the air; however this isn’t what this term means. Have you ever heard "0.0% APY for 12 months"? This means that if I purchase an item‚ I don���‚��„�t have any
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sources. Fraud activities include credit card fraud‚ which exposes the site to threat from customers and external sources‚ and internal fraud‚ such as fraudulent transactions being entered into the system from the back-end by rogue employees. Fraudulent transactions can also be introduced into the system by hackers or Trojan horses‚ with such fraudulent transactions appearing identical to real customers ’ transactions.”(Gissimee Doe‚ 2013) Hackers pose a threat to the future of e-commerce in two ways
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EXECUTIVE SUMMARY “Rising frauds lead to greater operational threat.” Insurance is one of the tools for risk management that aims at reducing the risk on the day-to-day life of individuals‚ organisation and society. At the same time‚ it should also be appreciated that insurance cannot be utilised as a risk free tool for all types of situations. Insurance provides risk management solutions to many situations that fall within the competence of human judgement and managerial skills. Insurance is
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Misrepresentation Misrepresentation is a concept in contract law referring to a false statement of fact made by one party to another party‚ which has the effect of inducing that party into the contract. For example‚ under certain circumstances‚ false statements or promises made by a seller of goods regarding the quality or nature of the product that the seller has may constitute misrepresentation. A finding of misrepresentation allows for a remedy of rescission and sometimes damages depending on
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Canadian Securities Registration Systems 4126 Norland Avenue Burnaby‚ BC V5G 3S8 Dear Sir/Madam‚ RE: Your Account Number: 7000349008 I acknowledge receipt of your correspondence dated September 26‚ 2013. I am writing to dispute a fraudulent charge made on my credit. I am a victim of identity theft‚ and I did not make this agreement. I am writing to dispute the following item with BMW Financial Services Canada. The account and transaction referred by you in your correspondence‚ I
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Fraud is costing society several hundred billion a year. Organizations lose close to 6 percent of annual revenue to fraud and abuse of social systems. On the average‚ organizations lose 9 dollars a day per employee to fraud‚ or on an average of fraudulent cases males received 185.000 dollars and females received 48.000 dollars. A study done by the insurance industry
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A Rogue Trader at Societe Generale Roils the World Financial System. 1. What concepts in this chapter are illustrated in this case? System vulnerabilities Computer crime: using computers as instruments of crime to defraud the bank‚ customers‚ and other financial institutions Internal threats from employees: Jerome Kerviel has access to privileged information; he was able to run through the organizations system without leaving a trace Business value of security and control: Organizations can
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result of proxy bid (Sanburn‚ 2012). After a very short time; however‚ Oppenheimer-Palmieri Fund management decided to suspend the entire board of directors under the governance of the Eddie Antar family to allow room for investigation of a possible fraudulent paradigm in the company (Silverstone‚ 2005). OPF employed the Apollo Fraud Investigation (API) to investigate on the CRXY electronic stores internal control procedures functionality to prevent the occurrences of frauds and errors in the company’s
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Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 3(3): 191-195 © Scholarlink Research Institute Journals‚ 2012 (ISSN: 2141-7024) jetems.scholarlinkresearch.org Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 3(3):191-195 (ISSN:2141-7024) The New Fraud Triangle Model 1 Rasha Kassem and 2Andrew Higson 1 British University in Egypt Cairo-Suez Desert Road‚ El Sherouk City 2 School of Business and Economics‚ Loughborough University‚ Loughborough
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In the recent years Redlands Manufacturing‚ Inc. has been audited and subjected to constant fiscal penalties due to fraudulent financial reporting on the companies part. Due to the following incorrect procedure the company has had to paid a tremendous amount fines: Channel Stuffing: Incorrect Practice: For financial gain‚ Redlands Manufacturing‚ Inc. shipped equipment to vendors with out a full merchant agreement and agreed to except returned merchandise back if it was not sold by yearend
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