of revenues when calculating corporate fines and penalties Mandatory prison sentences for officers. US senstencing commission. - Sarbances oxley basically was criminal fraud and white collar crime Substantically increases penalties for corporate crimes Mail and wire fraud penaties Indemnification of crime victims - Penalties are paid to the government - Action for damages. Victims can bring civil lawsuit against wrongdoer. - Indemnification of unjustly convicted
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The three banks that were researched for their money management services were, Citi Bank, Chase, and Banner Bank. These three institutions gave a wide view of the services that they would be able to provide to a potential customer and how it would best serve their business. Citi Bank states that with their, “cash management products, you can collect payments faster, optimize the timing of payments to suppliers, vendors and employees, and stay on top of your accounts and balances more easily.” This
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|ethical issues internationally | |ETHICAL ISSUES INTERNATIONALLY | | | |
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be done to prevent this from happening. Cyber-attacks can “inflict economic damage, disrupt a company’s operation and harm to its reputation” (Mead, 2011, para. 1). The different types of attacks are discussed such as; intellectual property theft, fraud, attacks upon infrastructure, and telecommunications. This article also stresses the importance of getting employees involved in the fight against these types of attacks by keeping all employees trained in information security policies and procedures
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of the largest and most brazen corporate financial frauds in history." And one investigator gushes, "The whole is truly beyond all limits....In every company we have found forgeries and falsifications of all sorts. But in this case we are really beyond the limits of the imagination." Parmalat Finanziara, the Italian dairy and food giant, is fast joining Enron and WorldCom as a household name for corporate scandal. The alleged financial fraud at Parmalat spans more than a decade and involves sums
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(President), David Shapira (CEO), and Patrick Finn (CFO) felt like they were on top of the world. They had 25,000 employees and sales of more than $ 3 billion. Accounting issues: Phar-Mor bankruptcy was one of the largest private companies in 1992. The fraud was executed primarily by upper management from the President, CFO, and COO to name a few. Phar-Mor executives embezzled money by using it for personal use and creating the World Basketball League. Phar-Mor accounting issues included falsifying financial
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Heston E Cummings, Daman Sandhu, Jamiel Najmeddine Principle or rules based accounting Heston E Cummings, Daman Sandhu, Jamiel Najmeddine Principle or rules based accounting Table of Contents INTRODUCTION 3 Principle Based Accounting 4 Rule Based Accounting 6 CONCLUSION 7 REFERENCES …………………………………………………………………………………………… 8 Abstract There have been lots of discussions about principle and rule based accounting approaches, mostly people view U.S GAAP as rule based and IFRS as principle
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The Internet and how it Singlehandedly Transformed nearly Every Aspect Crime The Internet and how it Singlehandedly Transformed nearly Every Aspect Crime There are several examples of specific crimes that have been around for centuries that have evolved into computer-based crimes. While these crimes may not be strictly committed with the use of key strokes, the advent of computers and the progression of technology have adapted these crimes making them in a lot of ways easier to commit
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Although the terms computer crime and cybercrime are more properly restricted to describing criminal activity in which the computer or network is a necessary part of the crime, these terms are also sometimes used to include traditional crimes, such as fraud,
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announcement that it was investigating several suspicious deals struck by Enron pronouncing “some of the most opaque transactions with insiders ever seen”. Kenneth Lay and Jeffrey Skilling were indicted in January 2006 for bank fraud, money laundering, wire fraud, conspiracy, and insider trading. Mr. Lay pleaded not guilty to eleven criminal charges, stating he was mislead by those around him. In July 2006, Mr. Lay died with the SEC seeking more than $90 million dollars and additional civil
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