ICO Scam Research Paper

Ponzi Schemes also known as a multi-marketing organization are white-collar crime; it is essentially an individual swindling a quick investment from new investors. Always ends up with investors or victums losing “their shirt” all the profits and many cases the company and is bankrupted and the owner ends up in jail. Two very highly successful Ponzi schemes are Primerica group and Amway. Primerica Group sells insurance and financial services and Amway sells heath insurance, but it doesn’t matter what they sale, its all about recruitment. They take your hard earned money and invest it into there business for a bigger profit in the future for a retirement but many people who try to get some of there money back for emergency are sadly mistaken

Lantonero (2011, 16) underlines this point by pointing out that technology has shifted the advertising and selling process from the streets to the digital domain. Advertisers use genuine online services to advertise their victims. For example, they may disguise the act as an escort service. They often use pseudonyms and code words to avoid attracting the attention of authorities. For example, they may refer to their victim as an expensive teddy bear. Clients learn these code words from various online forums (Lantonero, 2011, p. 16 – 17). Perpetrators also commonly conduct their online activities on the hidden internet, where they make use of advanced encryption technologies to evade digital forensic tools that police use to track their activities (Zagorianou, 2015

launder money and make illegally profits seem legit and how it is. In this paper we will explain

Internal fraud consists in “a type of fraud that is committed by an individual against an organization. [Furthermore], a perpetrator of fraud engages in activities that are designed to defraud, misappropriate property, or circumvent the regulations, law, or policies of a company”[8]. Not only has the incidence of internal fraud increased in frequency because of the availability of sensitive information such as client details or confidential business documents; moreover, this type of fraud is found in various types of organizations, ranging from corporations, public service institutions and financial institutions. Our analysis will concentrate on the most common and prolific types of internal fraud, namely identity theft, insider trading, loan fraud and wire fraud. Interestingly, PriceWaterhouseCooper conducted a survey that revealed that the “demographics of a typical fraudster are as follows: males (85% of cases), 31-50 years (72% of cases), reached high-school level (50%), Bachelor’s or post graduate degree (50%) and middle or senior management (52%)”[9].

An elevator pitch summarizes the features of the product, and captures the attention of the consumer and investor within a few seconds, through creatively stating the value proposition and pain statement.

It is important to first gain an understanding of the various types of fraud, in order to aid understanding in regards to the prevention of fraudulent activity. This paper begins with a review of the definition of financial fraud, and identification of the different fraud types. Further, included is an examination of what motivates individuals to commit fraud, including an identification of some of the method in which people commit fraud. A discussion of the importance of the fraud triangle, and how rationalization contributes to fraud is a key area of focus. Finally, there is an examination of some controls that prevent and detect fraudulent behavior, including the value and importance of understanding the nature of fraud for

Another source of a great amount of fraud is the fact that a lot of businesses are careless when they're hiring new employees because they do not do conduct adequate background checks during the hiring process. They also have lack an adequate network and do not have a reliable computer security system in place so that also plays a big factor in to why their business is victim to fraud and cybercrime.

Gio Benitiz, who is an ABC News anchor, did an investigation on the scams that were affecting different neighborhoods. He found out that there were scammers posing as utility workers. They would approach people and demand that they make utility payments. They also had access to people's homes. The results of Gio's experiment were chilling. Everybody who was approached by a fake utility worker let the person in their home.

Beginning from chapter seven, Pink writes about the different techniques and approaches in which the reader can influence others. The first method is by pitching, or in other words, by distilling one’s point to its persuasive essence. Pink discusses pitching because of the power and the potential it has to determine how interested someone can be towards an idea or product. If done correctly, pitching can positively influence and move people to a place where all participants are happy with the final outcome. Pink, in the book, explains the relevancy of the “elevator Pitch,” but he also offers different ways in which one can pitch an idea. For example, pitching a concept with only one word demands discipline and forces clarity, but at the end,

Schneeweis &Szado (2010, p.9) suggested that ffinancial fraud in general and Ponzi schemes in particular continue to maneuver investors. A Ponzi scheme is frequently described as a securities fraud in which the investment manager is in fact taking money from new investors to fund redemptions from current investors. These strategies are often discovered when new investors cannot be found to offset redemptions from current investors. The Ponzi method received its name from Charles Ponzi, who marketed an investment based on managing the International Postal Reply Coupons. Ponzi suggested that an arbitrage opportunity existed because he could exchange U.S. dollars into the necessary foreign currency, and use the foreign currency to purchase postal reply coupons. The postal reply coupons could be redeemed for U.S. postage stamps, which could then be sold for U.S. dollars. Ponzi promoted unusually high returns to investors when in fact he simply used the new investment to pay of the previous investors. While the scheme soon collapsed, there are similarities between him and the Madoff scheme. For example, Madoff sold primarily to the Jewish community and also Ponzi sold primarily to the immigrant community of the North End of Boston, to which he belonged. Along with that, the validity of Madoff's strategy was a subject argued by the public press (Barron's) as well as by individuals (Markopolus) on the grounds. Comparable to Ponzi's investors, Madoff’s investors, have received

Being the fastest growing crime of today, it is estimated that every 79 seconds an identity is stolen (Consumer Reports 13). Empty promises made by solicitors in spam e-mail offer a free gift in exchange for personal information. These solicitors have no intention of sending any free gifts, but their scams help them obtain the private information desired. If enough information is given, criminals are able to apply for credit cards, apply for a fraudulent loan under the victim’s name, and make illegal withdrawals from random bank accounts. This is only one of the many ways a person’s identity could be stolen (O’Reilly).

A Ponzi scheme is an illegal business practice in which new investor’s money is used to make payments to earlier investors. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity. The returns are repaid out of new investors’ principal, but not from profits. This can continue as long as new investors line up with cash, and old investors don’t try to withdraw too much of their money at once.

Moneymaking scams are becoming very popular in recent years. One would like to believe some things in life are sacred. Religion is where billions of people invest their hopes, dreams, beliefs, and most importantly,

Identity theft is on the rise in the United States and Globally. The Federal Trade Commission advised that there are about nine million cases of identity theft. People who had their identity stolen often feel like they were violated. Any individual can have their identity compromised in numerous ways. Different institutions store personal information. There are several organizations that have social security numbers, bank account numbers, and credit card numbers. Colleges and Universities have people personal information stored in their databases that could be hacked. There are several companies that offer options to people to protect their identity. Most credit card companies offer the option of identity

An elevator pitch is your chance to present the business and the opportunities it has for the investor in a short amount of time. The name quite simply means you only have enough time for the elevator to move from one floor to the other. If you can’t spark the interest and imagination of the investor in a few seconds, you probably won’t manage to do it in an hour either.