Phone: 0730468534, luciancernusca@gmail.com What is ethics? What does ethics have to do with accounting? How does a scandal affect the business environment and the society? This article will explain just those questions by analyzing a “famous” fraud scandal: WorldCom Inc. The article discusses the chronology of events that lead to the WorldCom Inc. collapse and explains how the figures were manipulated for the owners’ interest and what the accounting scam was. The article ends with the consequences
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Related Stories A Nigerian internet fraudster known as the ‘king of dating’ for his sophisticated tactics of online manipulation has given an eye-opening confession at a Lagos-based church. Samuel Johnson, an Edo State indigene, explained that his journey into advanced internet scamming began in The University of Port Harcourt after he joined the ‘Black-Axe’ cult. “I followed them into a very thick forest during the night of initiation,” the young man narrated. He was just 19 years old
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that I’m aware of. These new technologies will be able to help prevent fraud. Pictures of people’s IDs are coming up on the screens at banks so that we don’t have to ask for IDs. This makes it a lot easier to do our jobs as tellers. Identity theft has grown a lot since the use of the internet has become so much more common. Before, all someone had to do was go dumpster diving or look over someone’s shoulder. With the internet, there are emails being sent that say things such as “you have won the
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Settings Chapter 2--Why People Commit Fraud Add Question Here Multiple Choice 0 points Modify Remove Question Which of the following is NOT a common rationalization of fraud perpetrators? Answer The organization owes me I'm only borrowing the money No one will get hurt I don’t deserve more. Add Question Here Multiple Choice 0 points Modify Remove Question Which of the following is NOT a primary control procedure to minimize the occurrence of fraud? Answer Dual custody Systems of authorization
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Social media is the prospect of communication that enhances, increase and supports the sharing of information through numerous array of internet based tools and platforms (Social Media Defined). This innovative form of media enables the internet users to transfer text, photos, audio, video, personal and social information. Some famous platforms would be Facebook, Twitter and LinkedIn. There are billions of profiles found in these platforms and this show that numerous amount people out there are quite
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technology there is a tremendous amount of computer crimes and they are very illegal .A lot of the activities being performed by using a computer and they include theft, financial fraud, embezzlement, online harassment, virus infection and sabotage. Computer crimes affect all businesses large and small that rely on the Internet to operate. A research report in 2000 by the FBI showed that out of all the business respondents, 85 percent had been victims of computer crime. These crimes compromise businesses
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cybercrime as crime committed on the internet using a computer as either a tool or a targeted victim. The computer is considered a target when the crime is intended directly to the computer. Cybercrime also consists of traditional crimes that can be conducted through access of the internet. These crimes involve internet fraud, identity theft, banking thefts including credit cards, and telemarketing. In short cybercrime is defined as violent actions carried out using the internet through any device which has
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industry, including protecting consumers from predatory or discriminatory lending practices. • Marketing Practices leads the Commission's response to Internet, telecommunications, and direct-mail fraud; deceptive spam; fraudulent business. • Planning & Information collects, analyzes, and makes available to law enforcement consumer fraud, identity theft. • Privacy and Identity Protection safeguards consumers' financial privacy; investigates breaches of data security. (Vladeck, D., 2010)
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desperation or greed, apparently turned to accounting trickery to manufacture imaginary sales and other revenues and pump up earnings, sometimes over a period of years. Writing in The Wall Street Journal, one pundit recently reckoned that just three recent fraud cases — Sunbeam, CUC and Oxford — burned
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example of instruments to a crime is a burglar breaking into your home with a crowbar, lock pick, and or a hammer. These tools are similar .to the cyber-criminal using computers and networks for committing crimes such as theft, theft of services, fraud, exploitation, and threats or harassment. As we all know theft is defined as the taking of property with the intent to permanently depriving the owner of the property or service. This is what a cyber- criminal does to unsuspecting victims as he hacks
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