Fraud Essays

  • Fraud Management In Fraud Management

    740 Words  | 3 Pages

    Fraud Management team together with Data Science and Advanced Analytics department create a new machine learning based solution to identify and prevent possible fraud activities Frauds are as old as the human race and fraudsters always have and always will be following the money. If we look from their perspective 4finance product webpages could be compared to online shops where money is sold in bank transfer or cash format – they just need to come and get it. Companies and governmental institutions

  • Fraud: Four Factors And Implications Of Occupational Frauds

    5024 Words  | 21 Pages

    1.INTRODUCTION Fraud is a global phenomenon which will affect all country and nation's economy growth and prosperity. One of the most commonly found frauds within the company is “occupational fraud”. Occupational fraud is defined as “the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets”. This fraud is committed by the employees with the presence of the four factors such as motive, means, opportunity

  • Essay On Insurance Frauds

    920 Words  | 4 Pages

    After section which describes about functional classification of insurance frauds we will mention the most common types of insurance frauds, describing which fraudulent activities are the most frequent. Insurance is one of fastest developing areas in economy world, following with its all trends and innovations, so on the other hand it is field which involves many criminal and fraudulent activities because of nature of insurance as business. Therefore, there are many ways and actions how the insurance

  • Tyco Fraud Essay

    1050 Words  | 5 Pages

    The Discovery The embezzlement of funds took place as a carefully guarded secret. Neither the Board of Directors nor the outside auditor, Price water-house Coopers detected the fraud. Even the Securities and Exchange Commission did not probe into the company till June 2002. An interesting question is how did the CEO and CFO keep it under wraps for a period of around 4 years? Firstly, Kozlowski only allowed a handful of fellow employees and confidants to work with him at the Tyco headquarters in

  • Fraud In Banking Sector Essay

    801 Words  | 4 Pages

    2.2 Frauds and the Areas of Frauds in banking sector Fraud is a kind of behavior by which one person is intending to gain a “dishonest” advantage by one over another. A bank fraud is deliberate act of omission or commission by any person carried out in the course of a banking transaction or books in the books of account maintained manually or under the computer system in bank, resulting into wrongful gain to any person for a temporary period or otherwise, with or without any monetary loss to bank

  • Insurance Fraud Case Study

    1865 Words  | 8 Pages

    1. Introduction Insurance frauds cover the range of improper activities which an individual mayto commit to achieve a favorable outcome from the insurance company. This could range from staging the incident, misrepresenting the situation including the relevant actors & the cause of incident and finally the extent of damage caused. Potential situations could include a) Covering up for a situation that wasn’t covered under insurance (e.g. drunk driving, performing risky acts, illegal activities etc

  • Click Fraud Case Study

    3125 Words  | 13 Pages

    CHAPTER-1 Introduction Click Fraud is a type of damage or fraud that occurs on the internet Pay per click when someone, or automated Script, or computerized program that imitates as an authorized user of a web browser clicking on an ad. 1.1 Outline Pay per click: It is an internet advertising technique where each click of the user on the advertisement is cashed by the publisher (owner of the website). It’s an arrangement in which webmasters i.e. operators of websites, acting as publishers, which

  • Fraud Case Analysis Of Enron

    1851 Words  | 8 Pages

    FRAUD CASE ANALYSIS: ENRON CORPORATION Enron is known as the one of the largest fraud scandals in the United States history. As a result of the investigations, the company was forced to file for bankruptcy in December 2001. In May 2006, Enron’s previous chief executive, Jeffrey Skilling was sentenced to 24 years in jail while the ex-chairman Kenneth Lay died of heart-attack in July 2006. Enron Corporation represented one of the largest fraud scandals in history. As a result of the fraud investigations

  • Examples Of Fraud In Football

    1082 Words  | 5 Pages

    Outline: • Intro Fraud in football  Definition of fraud Defrauding and corruption can occur everywhere in finance, contracts, and football. Fraud in general means decisions are taken to provide the criminal with personal benefits, illegal gains, or profits. Fraud have been spread among football. There are many kinds of fraud such as tax fraud, age fraud, and defrauding the contracts. o Examples and facts There are many examples of defrauding especially in football, but the most important

  • Effects Of Occupational Fraud

    996 Words  | 4 Pages

    Discussions The cost of occupational fraud both financially and to an organization’s reputation can be accurately damaging. No business organization is resistant from the severe damage that fraudulent activity can inflict. From large corporations to small businesses, fraud is universal and often results in disturbing consequences. Fraud has the possible to mess up the activity of any business. In some extreme cases, fraud can discourage the survival of the business itself by limiting the confidence

  • Fraud Literature Review

    3300 Words  | 14 Pages

    ABSTRACT Fraud can be one of the reasons as to why the business has led to shut down or to corporate collapses however, there are two types of risk factors that leads to fraudulent in the business where one of them is misappropriation of assets and another one is fraudulent in financial reporting. The main purpose of this project is to state some of the risk factors that are associated with the fraudulent financial reporting in a business and also state the responsibilities of the auditors when

  • Fraud Triangle Theory

    1133 Words  | 5 Pages

    IV. Fraud triangle and fraud diamond Causes on business fraud, theorists proposed many famous theory about corporate fraud,fraud triangle theory, GONE theory and corporate fraud risk factor theory. US Association of Certified Fraud Examiners (ACFE), the current president of the American Accounting Association W. Steve Albrecht proposed the fraud theory (Wells 2001), he believes that corporate fraud is generated by the pressure, opportunity and Rationalization three factors, the lack of any of the

  • Effects Of Electoral Fraud

    917 Words  | 4 Pages

    Electoral fraud is illegal intervention with the process of an election. It manipulates the results of an election, whether increasing the votes of the favored candidate or party, or dropping the vote count of the opposing side. Although it refers to illegal acts, it is also used to describe legal acts that are unethical and are morally unaccepted. One method in electoral fraud is electorate manipulation wherein the composition of the people who can vote is altered. There is also disenfranchisement

  • Enron Fraud Case Study

    821 Words  | 4 Pages

    Starting in 1990s, a wave of corporate frauds in the United States occurred with Enron’s failure perhaps being the emblematic example. Jeffords (1992) examined 910 cases of frauds submitted to the “Internal Auditor” during the nine-year period from 1981 to 1989 to assess the specific risk factors cited in the Treadway Commission Report. He concluded that “approximately 63 percent of the 910 fraud cases are classified under the internal control risks.” Calderon and Green (1994) did an analysis of

  • Credit Card Fraud Analysis

    1962 Words  | 8 Pages

    ABSTRACT One of the issues facing credit card fraud detection systems is that a significant percentage of the transactions labeled as fraudulent are in fact legitimate[1]. These “false alarms” delay the detection of fraudulent transactions. Analysis of 11 months of credit card transaction data from major banks was conducted to determine savings improvements that can be achieved by identifying truly fraudulent transactions. A meta-classifier model was used in this research. This model consists of

  • Pros And Cons Of Fraud In South Africa

    782 Words  | 4 Pages

    Fraud is a dishonest activity causing financial loss to a person or a business. For example, when a person promises you that you can make a lot of money by investing in his/her business, but takes your money and disappears. There are different fraudulent activity, these include: • Phishing Scams • Advanced Fee Fraud • Card Fraud • Insurance Fraud • Identity Fraud These fraudulent activities have cost the country large amount of money. Reports by the RSA Anti-Phishing service show that phishing

  • The Pros And Cons Of Internet Fraud

    734 Words  | 3 Pages

    Internet fraud, they think of getting tricked by a hacker. A hacker is not always the case, internet fraud is any type of fraudulent scheme that uses one or more strategies of the Internet - such as e-mail, Chat rooms, Web sites, or message boards - to present fake solicitations to potential victims, to conduct sham transactions, or to diffuse the profits of fraud to financial organizations or to others connected with the scheme (Dmitry and Baumer 2014). Internet fraud has become

  • Accounting Fraud Case Study

    1467 Words  | 6 Pages

    The primary methods of accounting fraud In the current stock market, many of the listed companies often adjust the accounting policies, affiliate transactions, asset replacement and other means of reorganization of book assets in order to achieve the purpose of faking the performance of the company so that they can achieve some purposes of allotment, issuance of stock, etc., and those frauds have a negative impact on the development of the securities market. In order to achieve their different purposes

  • The Pros And Cons Of Identity Fraud

    1165 Words  | 5 Pages

    Identity Fraud Was At An All Time High in 2017 - Here's How to Prevent It/Protect Your Company Let’s talk about identity theft – it’s the biggest current threat to personal security in America, causing immense loss for both consumers and businesses alike. The sheer scope of identity fraud crimes is enormous; it touches every sector, every industry, and every level of business from the tiny mom and pop shop to sprawling global corporations. Identity theft crime statistics are on the rise, especially

  • The Pros And Cons Of Money Fraud

    1237 Words  | 5 Pages

    Money fraud can be broadly defined as a measured act of trickery revolving around budgetary exchange with the aim of personal gain. Fraud is in itself a crime; moreover, it is likewise a civil law infringement. Various fraud cases involve confounded budgetary transactions run by lawbreakers, for example, business experts with specialized information and criminal expectation. Expense compensation fraud makes up around fifteen percent of business fraud. This prompts a yearly loss of about twenty-six