Fraud As White Collar Crimes

1581 WordsJan 27, 20167 Pages
Abstract: We are hearing at least one scam per day on every corners of the globe, these days making scam or fraud is not a big task but the consequences after that are horrible, it effects many individuals lifestyle and even sometimes cost life of human beings Earlier Scams are restricted to some fields but now they are taking place in every field at any incidence of time. Scams are creating a doubt for us whether to believe to business, corporate companies and even our neighbours. These days corporate scandals are increased in frequency and severity, we are even believe them and guess the effects of them, we can call corporate scam as white-collar crimes . The scams like Enron, WorldCom, Satyam and Augusta helicopter scams are few examples of biggest frauds in the last two decades. If we go in depth with Satyam computers scam that occurred in 2009, we will know what the fraud is, they manipulated their accounting details for seven years in order to show their company is more powerful than what it was in actual by cheating their employees, stakeholders, vendors, clients and everyone. This scam left us questions about security, law and governance and how importance they are in our everyday life, this scam created a doubt on Indian companies in the world market. Introduction: What is Scam? Scam/ fraud can be described as doing things illegally and which are not ethical, which are not good for organisation and society by effecting everyone connecting to that

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