numbers. Ms. Evans would use her false identification cards to forge documents. She and her husband ran a gang that used fake W-2s to obtain false checks from the state. However, this was only one of the many check tampering frauds she committed. The second such fraud was for her and her gang to produce fake checks and have members of the gang cash the checks around town. She had a history of forging the SSNs and licenses. Although not highlighted in the article, it would be within her to use
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Cyber Crimes Cyber crimes are on some of the hardest crimes for the police to stop and catch the perpetrators because they can commit a crime in one state or country and physically be in another state or country. While the invention of the Internet has had great affects on the growth of technology, it has also given criminals an extremely large place to hide in and the laws are still trying to catch up with the growth of technology. The different technology crimes that occur fall into one of
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The Lennar Company faces the damage caused by the Fraud Discovery Institute’s claims, the financial crisis, mortgage defaults, and dramatic fall in house prices, particularly in some of their active markets. The country is in the midst of an economic recession that began in 2007, and on top of that, the company has been accused of operating a ponzi scheme and profiting while allowing investors to lose money. On the day of the announcement by the Fraud Discovery Institute, the company’s stock price took
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HealthSouth, the nation's largest provider of outpatient surgery and rehabilitative services, was founded in 1984 by Richard Scrushy and co-founder Aaron Beam. HealthSouth was involved in a corporate accounting scandal in which Richard Scrushy was accused of directing company employees to falsely report grossly exaggerated company earnings in order to meet stockholder expectations. Revenues continued to grow to more than $3.5 billion allowing Scrushy and Beam to enjoy the lifestyle that accompanies
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{DC(-P[,"^q-' li Frauds of the Century BERNARD MADOFF worked as a lifeguard to eam enough money to start his own securities firm. Almost half a century later, the colossal Ponzi scheme into which it mutated has proved impossible to keep afloat unlike Mr Madoffs 55-foot fishing boat, "Bull,,. The $ I 7. I billion that Mr Madoff claimed to have under management earlier this year is all but gone. His alleged confession that the fraud could top $50 billion looks increasingly plausible:
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How was TJX vulnerable to breaches? How did the situation escalated into a full scale breach. TJX was vulnerable to the breach because of failed attempts to update security which could have prevented the breach. TJX performed an audit and it found that it was non-compliant with 9 of the 12 requirements for a secure payment transaction. Gonzalez used a simple packet sniffer to hack into the system. The packet sniffer Gonzalez used went undetected for several months. TJX failed to notice any data being
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White Collar Crimes Name Institution White collar crimes Edwin Sutherland first termed white collar crimes as "a crime committed by a person of a high social status". Although many years have passed, the term would still retain its meaning, but would eventually be defined: as a non-violent crime committed by businessmen or public officials for financial gain. It's difficult to prosecute most white collar crimes for those who practice it
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Diamond Foods 2014 San Francisco-based Diamond Foods Inc, and two former top executives deceived investors, by lying about walnut costs to boost earnings. Diamond Foods former former Chief Financial Officer, Steven Neil, directed a scheme to under report how much money the company paid walnut growers by delaying the recording of the payments into later fiscal periods. Which allowed the company to report higher net income and beat the expectations of analysts for fiscal quarters 2010 and 2011. The
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This scandal would eventually cost investors around 6 billion dollars (Bloomberg News). This event was described by the associate director of the SEC's Division of Enforcement, Thomas C. Newkirk, as "possibly one of the most egregious accounting frauds we have ever seen" (SEC). What Thomas Newkirk was describing was a long-standing policy by those at the top of the executive rung at Waste Management to provide their auditors, auditing committee, and the public false and misleading numbers in a variety
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Fraud is a serious problem for most businesses today and often technology compounds the problem. In addition, the role of the independent auditor in the detection of fraud is often questioned. (http://www.swlearning.com/accounting/hall/ais_4e/study_notes/ch03.pdf) Fraud is dishonest activity causing actual or potential financial loss to any person or entity including theft of money or other property by employees or persons and where deception is used at the time, immediately before or immediately
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