“Don’t believe everything you hear.” This phrase has often been repeated in various contexts, from popular music to major headlines. While it is seemingly innocuous advice, this same phrase also has a darker context: People may not only choose to not believe everything that they hear, but they may also...
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The modern business environment offers business owners more and more innovative tools and techniques to increase their revenues, create organizational culture, and generate success. Along with benefits available to many companies, more and more issues surrounding their honesty occur in the recent years. Fierce competition and a desire to earn...
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Phar-Mor Inc. was a retail drugstore chain based in the United States.. According to the International Directory of Company Histories (as cited in Funding Universe, 2017, para. 1). Phar-mor was started in 1982 by David S. Shapira and Michael J. Monus. At the Phar-Mor’s height in 1992 the company had...
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Introduction Prior to the scandal, Enron had established an international reputation for corporate responsibility and economic stability. Despite this reputation, executives at Enron hid a scandal that sacrificed the life savings of many of the company’s employees (YouTube, n.d.). A few months prior to the scandal surfacing, many Enron executives...
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The Bernie Madoff scandal was discovered in the wake of the 2008 financial crisis. Madoff was an an investor with an immaculate reputation who held millions of dollars worth of funds for his clients. While Madoff informed such clients that he was investing their funds in securities markets around the...
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In 1929, America suffered an economic calamity. On September 20 of that year, the United States Stock exchange “crashed”, figuratively speaking . The crash was this: there was no monetary support behind the stocks being sold. The dollar was almost the equivalent of Monopoly Money, and it stopped an America...
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A Ponzi scheme is when investors are encouraged by the person creating the scheme to invest in a fictitious company, or a company that purports to do one thing but has very minimal assets or operations. The monies invested from later investors are then used to pay off the initial...
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Executive Summary Ponzi schemes are a result of public greed. They are the result of public greed tied directly to a sociobiological drive. Investors in Ponzi schemes get trapped because of their own greed and because of the natural design of genes, this cycle is not one soon to be...
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The case in question in this instance is that involving Logitech. The SEC charged Logitech with accounting fraud in 2016 for some of its activities previously in the decade. In particular, the company was charged with misrepresenting many of its liabilities and some of its losses. This kept the stock...
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Forged endorsement scheme is a form of fraud in which an employee coverts a check by signing a third party in the endorsement line (Chapter 5, 2007). The check becomes payable to the third party instead of the intended recipient. This fraud is a unique form of forgery because it...
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Scandals can seriously ruin the reputation of businesses in a corporate world as well as among individuals. Most scandals often result in crippling of organizations and some lead to the collapse of business. Some organizations formulate positive strategies for dealing with scandals whereas others do end up benefiting from the...
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Corporate reputation depends on how companies cope with the role of corporate social responsibility (CSR). The CSR approach is particularly important for global corporations since their activities affect people in many countries. Volkswagen’s unethical actions led to an emissions scandal that aggravated after the manufacturer admitted to installing the emissions...
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Mrs. Alice White lives alone, has been a widow for the past nine years, and is in fairly good health. She is on medication for her blood pressure, diabetes (adult onset), and arthritis. At 79 years old, she is involved in her church choir, attends Bible study class once a...
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December 3, 2016: Bridgett Carr was arrested for providing patients with forged description in exchange for money whilst working as an office manager for Dr. Jose Turro. The Sheriff found out that Ms. Carr had requested money to release unauthorized prescriptions, without her employer’s permission. Available evidence suggests that Ms....
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Scientific fraud is blight that occurs in increasing prevalence in the research community. Fraudulent practices, such as faked survey results compromise the ability to rely on the result of research as a means to make policy, accurate diagnoses, and to further research into the chosen topic. Scientific fraud goes beyond...
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In general, what are the major objectives of internal control? What is their purpose? Key internal controls are critical to an organization functioning effectively and safely. Their purpose is efficiency and reduction of fraud in the transactional process. Key controls relate directly to risk. Segregation of duties is a key...
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From the summarized case study, it is apparent that health care institutions could be faced with many incidences of fraud, some of might result in huge financial losses that might be accompanied by relatively low levels of quality (Fabrikant, Kalb, Bucy, Hopson, 2014). The management of the organization needs to...
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The construct of Health care frauds can be defined as the acts of intentional deception where on party uses healthcare resources, at his or her disposal, for illegal personal interests. This leads to substantial amount of injury or disadvantages to another the other party. Due to such duplicitous representation of...
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The identification of fraud risk is a process rather than an activity. To identify the risk of fraud, one must identify the weaknesses in any processes that link the customer’s payment to the bank account holdings of the company. Additionally, one must identify the internal controls processes as well as...
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Halal is the permitted food for Muslims. The term ‘Halal’ is supposed to mean “permitted”. For religious reasons, Muslims are supposed to eat the meat of an animal that has been religiously killed. In other words, the animal, for an example of a cow, goat, camel, a chicken, should be...
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White collar crimes unlike many crimes usually go undetected. When we hear about white collar criminals, we think about people in suits not goons wearing masks like other criminals. Henderson (2000), states that some of the examples of white collar crimes include cybercrime, money laundering and forgery. Ignorance about white...
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The Committee of Sponsoring Organizations of the Treadway Commission or COSO (2014) provides a framework for identifying guidance in risk management, and providing internal controls and fraud deterrence in organizations. This framework can be used to analyze the fraud that occurred in WorldCom, which is one of the largest cases...
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In Canada, as in the United States, the mortgage system, while being important to the overall functioning of the economy, is also one that has the potential to experience fraudulent behavior (Baumer). Whenever there is a possibility for people to take advantage of the system and make money, there will...
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In legal terms, fraud signifies a deliberate practice of deception resulting in an unlawful or unfair action. Fraud is commonly classified as a criminal wrong. The motivation behind committing fraud results for different reasons. Some wish to obtain the benefits of value while others falsify the statements for the personal...
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Corporate violence is fundamentally different from the obvious day to day conventional interpersonal violence in the sense that, it is largely subtle, indirect, collectively-instigated and disguised under the umbrella of the public good. In reality, it is a collective and intentional effort of major corporations to reap maximum benefits while...
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