Lexisnexis Risk Solutions : The Go-To Source For The Fraud Examiner

SOCS10261G Scams Frauds Identity Theft Crimes of Deception in the Information Age - Term 1129, Class 75036

Cases of fraud have been increasing over the years, and different agencies and authorities that have the task of subduing fraud have to get involved and put a stop to it. In the instance of which fraud has been uncovered, it is crucial to be aware of the red flags that were present in relation to fraud and associate them to the factors related to the fraud risk assessment. As Troy Gillard states in the Rd news magazine, a man that broke free after being acknowledged as suspicious when he wanted to take a loan out at the Cash Canada using a stolen ID amongst other official documents that had been stolen. It seemed that the ID and the other documents

Often, financial fraud is conducted through multiple individuals. Therefore, it is important that this oversight panel be at the board level, instead of relying on the financial team on the ground (Zack, et al, 2015).

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].

Visit the websites for the Institute of Internal Auditor and the Association of Certified Fraud Examiners:

On January 9, 2013, the DC Office of the Inspector General (OIG), forwarded an anonymous complaint from a concerned citizen to The Office of Program Review, Monitoring and Investigations (OPRMI), Fraud Investigation Divison (FID), alleging Lorenzo Thompkins is fraudulently receiving SNAP/Food Stamp benefits and Section 8 assistance. The complaint stated that Mr. Thompkins qualified for benefits by using the personal information of Carlese Shall, the mother of his daughter, who is incarcerated for homicide. The complaint also alleged that Mr. Thompkins is employed at the Blue Plains construction site, and resides at 4220 9th Street, S. E. but uses a Glass Manor, Maryland address. (Exhibit 1)

In a supervised technique, predicted values are obtained with the aid of reading statistics of each fraudulent and non-fraudulent claims.[41] According to Richard J. Bolton and David B. Hand, both of Imperial College in London, this method has some drawbacks as it calls for absolute truth that the ones claims analyzed are sincerely both fraudulent or non-fraudulent, and because it may handiest be used to detect kinds of fraud that have been devoted and identified

Dr. Kelly Richmond Pope is an associate professor for the School of Accountancy and MIS at DePaul University in Chicago, Illinois. In completing her collegiate career, she obtained a bachelor's degree from North Carolina A&T State University in accounting. Further, Dr. Pope received her doctorate's degree in accounting from Virginia Tech. She was employed by KPMG, LLP practicing forensic accounting. Several cases Dr. Pope has worked on included insurance fraud investigations, fraud risk management jobs, and anti-money laundering engagements. In addition, she co-authored a book, The A.B.C.’s of Behavioral Forensics: Using Psychology to Prevent, Detect, and Deter Fraud.

SUPPORT DOCUMENTS: One Page USPS Correspondence, One Pay Pal Correspondence, One Page Victoria`s Secret Correspondence, One Page Capital One Correspondence, One Page Linda Sapp`s Notes, One Page PSO Affidavit Of Identity Theft and One Page Photocopy of Linda Sapp`s Florida Driver License.

According to Daniel F. Dooley (2008), a member of the Commercial Fraud Taskforce, financial fraud with private middle-market companies is on the rise. In fact, Mr. Dooley believes that he has seen more instances of fraud in the past two years than in the previous ten. He notes seven areas in which financial fraud has increased over the past few years:

|Another fraud risk factor is that Rogers allows returns after |1-Although this is good for customer service, it provides the |

The video “Cooking the Books” discussed the ZZZZ Best case of fraud, it tells how and why fraud was perpetrated by Barry Minkow and why it was undetected for so long. According to the video, ZZZZ Best was founded by Barry Minkow in 1982; when he was sixteen years old, it started as a carpet cleaning company. But, due to high competition in the industry, low entry barriers, and bad internal control, this young entrepreneur started to have cash flow problems, thus creating a shortage of working capital. As a result of the financial pressure, he started to commit fraud by creating false accounts receivable and sales, false documents (using photocopies of real

There are many different avenues that one could take in the field of accounting. It is a lucrative career with many areas of interest to be followed. I have chosen Forensic Accounting to further review and research. This paper will define forensic accounting, describe what it takes to be a forensic accountant, give some statistics about forensic accounting, and give my feedback on this potential career path.

The perfect fraud storm occurred between the years 2000 and 2002 involving two of the largest energy and telecom corporations in the United States: Enron and WorldCom. It was determined that both organizations fraudulently overstated assets, created assets from expenses or overstated revenues, costing investors billions of dollars and resulting in both organizations declaring bankruptcy (Albrecht, Albrecht, Albrecht & Zimbelman, 2012). Nine factors contributed to fraud triangle creating this perfect fraud storm, and assisting management in concealing the fraud until exposed and rectified.

A business can not work out without an account system, which includes internal. Internal controls are used by companies to make sure financial information is accurate and valid. Strong internal controls are signs of a financially healthy company and protect the company’s integrity. Strong internal controls can also increase a company’s profitability. There are several types of internal controls that companies used to protect themselves such as: Segregation of duties, asset purchases, supervisor review, internal audits and adequate documents and records. This paper will discuss several topics from a case study about And the Fraud