WorldCom where being talked by lamplight and bundling as Enron is a lot of in topic of accounting fraud. However, the volume of information that can be obtained in Japanese is far less compared with Enron. The fact relevance makes the description of the case a base. WorldCom is a huge telecommunication company that exists in the United States before. The company that Mr. Bernard Ebbers founded in 1983 accomplishes the rapid growth repeating M&A with tremendous force. Long-distance telecom carrier
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Misreporting of financial results have occurred in companies from various countries, such as personal computer maker Dell intentionally revised its results from 2003 to 2006 and in the first quarter of 2007. In 2006, the Malaysian express freight and freighter charter company Transmile Group restated its 2005 profit of RM75 million to a loss of RM370 million as a result of fictitious sales. This essay will analyse the incentives of companies misreporting their financial results in relation to how
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10 STEPS FOR SAFE WEB SURFING 1. Education – Educate yourself about the types of scams on the Internet so that you are better equipped to defeat them. Read up on the latest phishing scams, for example, and learn how to recognize them. 2. Use a firewall – Firewalls monitor traffic between your computer or network and the Internet and are your first and best line of defense. Most operating systems come with a firewall, but it won't help you if you don't activate it. 3. Click with caution
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Legal and Regulatory Environment Walmart provide information on common scams to their customers such as fraud awareness sign and brochure. They also help their associates understand how to spot signs of fraud and protect the financial interests of their customers. They trained their associates on fraud and money laundering as part of their prevention strategy. In addition, Walmart uses an anti-money laundering software solution to monitor financial services activity for potential financial
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The Threat of Fraud Tracey Brewer American InterContinental University Security and Loss Prevention CRJS270-1301B-01 Jade Pumphrey March 28, 2013 Abstract Identity theft, whether on a personal or business level is a criminal act. So, for many years individuals have plotted and schemed to come up with scams to obtain personal information from other individuals or organization to either sabotage one’s reputation or obtain financial gain. Either way, this wave of criminal activity is wreaking
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think of, such as entertainment, business, sports, health or education. However, one of the major disadvantages of internet is cyber crime. which is an illegal activity that committed on the internet and this includes email espionage, credit card fraud, spam’s, software piracy download illegal music, steal money from online bank account and so on .It also includes non monetary offenses such as creating and distributing viruses on other computers and posting confidential business information on the
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The Fraud of the Century: The Case of Bernard Madoff 1. What are the ethical issues involved in the Madoff case? Not only is what Bernard Madoff did highly unethical but for his company to be able to pass the tax audition imposed question on the SEC internal system a farce. I guess Madoff bribed the auditors. I guess the saying money talks holds true for some. How people could morally falsify documents for money is just beyond comprehensible. To even take advantage of an innocent person is unfathomable
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Business Law and Corporate Ethics Shawn Greiner May13, 2014 Faculty: Jonathan McGovern BUS2112 A05 Argosy University Online Ethical Concerns of False information Ethical lapses and moral indiscretions can occur under the pressures in today’s marketplace to generate profits. In general, business people, students, customers know the difference between right and wrong! Ethics are related to matters of right and wrong or moral conduct pertaining to marketing communications. Central
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the buyer as well as the seller. 2. What potential contracting problems exist on eBay? Potential contracting problems which exists on eBay are misuse of online marketplace in the form of trading on banned items, selling of damaged products, frauds in the form of non payment of goods after buying or non delivery of goods after selling etc. Also, since it is an online marketplace, it is difficult to judge the authenticity of buyers and sellers in advance. Another potential contracting problem
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CASE 4: ACCOUNTING FRAUD AT WORLDCOM Betty Vinson: victim or villain? Should criminal fraud charges have been brought to her? How should employees react when ordered by their employer to do something they do not believe in or feel uncomfortable doing? In discussing whether Vinson should been charged with criminal fraud, it can be analyzed from ethical perspective which can truly judge whether she was morally responsible for the wrong or not. In order to determine whether Vinson was morally responsible
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