Fraud And Corruption In The United States

The law of fraud is stretched across the justice and regulatory systems. It covers many different scenarios and grants numerous agencies powers to investigate diverse types of conduct varying in seriousness, from false accounting or fraudulent trading, to sophisticated commercial crime cases involving vast amounts of funds across multiple jurisdictions.

The word ‘Fraud’ means that wrongful or criminal deception intended to result in financial or personal gain.The person who committed the ‘fraud’ case is against the law and the action will be taken by the authorities.The United Kingdom’s parliament had legislated the Theft act 1968,Theft Act 1978 and Theft Act 2006.The question here is how was the relationship between both the Theft Act and offence of fraud?What is the relationship between both the Theft Act and the Fraud Act 2006 ? Author will discuss these two question,analysis whether the offence of fraud had addressed the difficulties under the deception of the Theft Act 1968 and Theft Act 1978 and did the Fraud Act 2006 achieve the expectation and the requirement of the society in this

Financial fraud: This involves using credit cards belonging to third parties to undertake online financial transactions.

Fraud is a false representation that is used to gain advantage or secure personal gains. While there are many different schemes used in committing fraud, the most commonly used fraud schemes are billing schemes, expense reimbursements, check tampering schemes, payroll schemes, and register disbursements. Billing schemes are the most common and are used in conjunction with fake or altered invoices for fictitious goods or services or personal activities. Check tampering is the scheme that carries the highest median loss and is committed by acquiring the funds of the organization and using them for personal activities. Payroll schemes involve falsifying compensation requests, such as timecards for fictitious or terminated employees and collecting

Back in the day, you would be forgiven for thinking that the corruptions scams where perpetuated by leaders oblivious to the long-term impact of their deeds. But today's corruption scams are masterminded by people with such high levels of exposure it is dismaying.

Fraud is a criminal act which involves deception to gain an unfair advantage more often financially Bolton and Hand (2002:235).In this essay, fraud is discussed in relation to the critical paradigm which Schichor (1980:14) believes is an over-simplification criminal behaviour as it is based on the econo-political factor. Apart from fraud discussion, an analysis of possible fraud acts offenders as well as the limitations of the critical paradigm is included in this essay. Typologies such as electoral fraud seem to related well to the critical paradigm as the rich do define crime and laws protect them at the poor’s expense. However, fraud types such as E-tailing, insurance, wire and accounting fraud are not committed by the poor in rebellion to the laws imposed on them by the rich as the paradigm suggests. Zahra, Priem & Rasheed (2005.p. 804-805) say the managerial administrators commit fraud more than the poor. Perhaps due to the poor’s lack of information and advanced technology in contrast with the rich’s quest to get more wealth.

In law, fraud is deliberate deception to secure unfair or unlawful gain. For example, something as simple as a ripoff, or a scam are all forms of fraud. Other examples are false billing and credit card fraud (using a false credit card as a source of funds). A well known example

Political Corruption: Acts of manipulating policies, rules of procedure and institutions in the allocation of resources, which abuse their position to sustain power, status and wealth.

Fraud is a special term that is used to define the act of deception in order to gain something unfairly or unlawfully (Benson, & French, 2009). Fraud is considered to be a branch of civil crime and it is one most common act of crime in today’s society. The concept of fraud varies differently in different situations, and because of that, frauds can be of many types (Benson, & French, 2009). In this paper, we will be analysing four different cases of fraud and assess the elements involved.

Fraud by definition can be a lot of things when it involves malicious and dishonoring actions. It has anything to do with misappropriations or even have knowledge of the wrong appropriation, a single or group can achieve. Extortion by definition can be a great deal of things when it includes vindictive and disrespecting activities. It has anything to do with misappropriations or even know about the wrong appointment, a solitary or gathering can accomplish. These describe the elements of how fraud can be affected and taken into account of harming the company.

Fraud is unfortunately a subject that many companies and even people have problems controlling. Fraud is defined as deliberate deception to secure unfair or unlawful gain. It is said that fraud is both a civil wrong where a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation and a criminal wrong where a fraud perpetrator may be prosecuted and imprisoned by government authorities. There are many purposes of fraud that may include monetary gain or other benefits.

Fraud is intentionally or deliberately deceives others, which led others lose their benefits or person who made fraud obtain benefits. There are three elements of fraud occurrence, which is called the fraud triangle (exhibit 1): incentives or pressure, opportunity, and rationalization; also people will rationalize their fraud.

Fraud is defined as dishonest activity causing actual or potential financial loss to any person or entity, including theft of money of other property, by employees or persons external to the entity, and where deception is used at the time, immediately before or immediately following the activity1. Fraud is an emerging problem both nationally and globally and is an increasing problem all around the world2.

We must first understand the meaning of ‘fraud’ and some motivations behind the commissions of such acts. I want to first start by defining fraud to get a deeper understanding of what this paper would be talking about.

Corruption and fraud is not only a endemic found in Africa but it is a difficulty that is faced all over the globe. Corruption is defined by Dr. Petrus Van Duyne as “a decay in the decision-making process in which a decision-making process in which a decision-maker consents to deviate or demands deviation from the criterion which should rule his or her decision-making in exchange for a reward or for the promise or expectation of a reward, while these motives influencing his or her decision-making cant be part of the decision” or can simply be defined as dishonest or fraudulent conduct by those in power, typically involving bribery. Fraud is defined as wrongful or criminal deception intended to result in financial or personal gain. Both corruption and fraud can destroy the economy, infrastructure and the society of even the most political and financially stable countries.