White collar crime and credit card fraud are complex crimes that are generally related to business‚ industry‚ and economic schemes. The U.S. Department of Justice defines white collar crime as a “nonviolent‚ illegal activities that rely on deceit‚ deception‚ concealment‚ manipulation‚ breach of trust‚ subterfuge‚ or illegal circumvention” (Criminal Investigation‚ 11th Edition). Statically these sophisticated crimes are usually committed by caucasian and european men. No matter the circumstances‚
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ZZZZ Best Company Fraud Case Study 1) At an early age‚ Barry Minkow was introduced to the carpet cleaning industry by his mother who worked part time as a telephone solicitor for a small carpet cleaning company. This insight of the industry allowed Minkow to understand that the carpet cleaning industry was one which had very few barriers to entry‚ no licensing requirements‚ and required only a small amount of capital to enter. Also‚ because of these few barriers to entry‚ the industry has historically
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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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What is Welfare Fraud and who’s paying the price? What is Welfare Fraud and who’s paying the price? Welfare fraud is misuse of various welfare programs; the people who suffer the most from this are the ones who should get benefits but can’t because there is no more funds available and the taxpayers who pay for it. Basically fraudsters withhold certain information or provide inaccurate or false information to receive benefits. The three most common types of welfare fraud are purposely providing
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KEY RISK FACTORS Real estate sector growth would be driven due to a large unmet demand for housing and commercial spaces in the country. Demand side factors are unlikely to act as a key risk to real estate growth‚ unless serious economic downturn occurs. The factors that may hinder the pace of development would most likely be supply side related. Rising construction costs‚ skilled labor‚ shortages‚ project delays and excessive speculation resulting in demand destruction may result in revaluating
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examples of Accounting Frauds. The founder of ZZZZ best was Barry Minkow. He was a very smart young entrepreneur when he started the company. He was involved in credit card forgeries prior to starting his own carpet cleaning business “ZZZZ Best Company”. Minkow began his business with small carpet cleaning jobs and he became a multimillionaire in a very short period of time. Minkow met a person named Tom Padgett at Los Angeles Health club. This was the beginning of Minkow’s big fraud scheme. Padgett was
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1. Compose a summary of the case. Include how the fraud was perpetrated‚ the characteristics of the perpetrator(s) who committed the fraud‚ the role the auditor(s) had in the case‚ and the direct and indirect effects the incident had on the organization’s stakeholders (customers‚ vendors‚ employees‚ executive committee‚ and board of directors). Comerica is being sued by Experi- Metal’s for a $560‚000 phishing attack to their bank account. Experi- Metal‚ a custom auto- parts maker‚ was hit by phishing
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Why Does the Pardoner Admit that He is a Fraud? In Canterbury Tales‚ Geoffrey Chaucer presents a collection of tales which satirize religion‚ addictions‚ and other human vices. The Pardoner from “The Pardoner’s Tale” preaches against various sins such as lechery‚ gluttony‚ falsehood‚ and gambling. In the midst of his preaching‚ the pardoner explains his deceptive nature and admits that he is a fraudulent preacher. After admitting this‚ he proceeds to ask these people to buy his counterfeit relics
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Risk Factors Risk factors are variables that increase the likelihood of juveniles becoming involved in gangs. Some of the major risk factors of juvenile gang involvement include: “negative influences in the child’s life‚ child maltreatment‚ poor parental supervision/involvement‚ substance use‚ such as alcohol and drugs‚ poor educational or employment potential‚ and community disorganization” (Hawkins and Pollard‚ 1999). According to a Seattle study‚ children and youth are two to four times more
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Identity fraud can ruin a person’s entire life because what they worked so hard for is taken from them. People pretend to be someone else on the computer. As the amount of online dating sites are going up‚ so it the amount of “catfishing”‚ or pretending to be someone
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