There were lots of problems in our society that we absolutely have no ways to prevent. One of the most serious problems in today 's society is that there are lots of swindlers around the world. Fraud is when a person intended to deceive others to get money, as today 's techniques have gotten better and better everyday; the cheaters get the advantages of it. They use those network communication techniques to get people’s information and use those information to cheat your money. There was no age limit for the target people, whom the teenage, middle age and old people can become their targets. The cheaters will use different ways to cheat money. Mostly the cheaters will use the Internet to cheat the teenagers since all the teenagers are chatting …show more content…
Almost everyone in the world is using the Internet, and now more people are learning how to use the Internet. The rates of Internet fraud cases are gaining, when there are more people using the Internet to meet new friends. Basically, there are many communication apps have being invented. There is an apps called “wechat”, when it first invented it’s a Chinese app. Few months later, Wechat has become an international app, which there are different countries people are now using this app. Wechat includes many functions inside, one of the function that most people use is named “shake it”. When you shake you cell phone, you are finding a person that was shaking their phone at the same time. Then you guys are become friends and you can chat with the person that you shake out. In this century, most of the boys and girls are finding their spouse online. There is an Internet fraud happened on my friend, she meet a guy online, they get together after a few weeks. One day the guy say he needs money to tide over the difficulties on his business. And the guy promise my friend that he will get marry her and give back her the money after he pull through. After the day my friend transfer the money to his bank account, the guy was disappear. The address he gave is fact and the name is fact, the police have no ways to find him either. It is hatefully for the guy cheats her money and love. Start from that day, my friend does not believe love anymore. Fraud is causing a girl to lose her confidence in
On December 17th 1997 CUC International a membership-based consumer service company focused on giving people access to discounts on travel, shopping, etc. and HFC Incorporated a large hotel franchiser merged together and became Cendant. CUC International lead by Walter Forbes "deliberately and fictitiously" made the company more than $500 million fictional revenue, which in effect led to one of the biggest fraud cases of the 1990’s. This is a very interesting fraud case and one that forced the accounting and auditing standard setters to review some of their standards, which is something I’ll talk about more later on.
On the above date and time, I responded to 6333 Ridge Road, (lobby of the Port Richey Police Department), in reference to a fraud report.
"This is why the market keeps going down every day - investors don't know who to trust," said Brett Trueman, an accounting professor from the University of California-Berkeley's Haas School of Business. As these things come out, it just continues to build up"(CBS MarketWatch, Hancock). The memories of the Frauds at Enron and WorldCom still haunt many investors. There have been many accounting scandals in the United States history. The Enron and the WorldCom accounting fraud affected thousands of people and it caused many changes in the rules and regulation of the corporate world. There are many similarities and differences between the two scandals and many rules and regulations have been created in order to prevent frauds like these. Enron Scandal occurred before WorldCom and despite the devastating affect of the Enron Scandal, new rules and regulations were not created in time to prevent the WorldCom Scandal. Accounting scandals like these has changed the corporate world in many ways and people are more cautious about investing because their faith had been shaken by the devastating effects of these scandals. People lost everything they had and all their life-savings. When looking at the accounting scandals in depth, it is unbelievable how much to the extent the accounting standards were broken.
In conclusion, some people do not think deeply about the definition of a fraud. It has many definitions and types. However, they cannot solve that problem because the lack of using technology and knowledge. I hope to find the solution soon and help those people who are struggling from this issue. Some people and sectors are experts in this issue. They have to collaborate to find the solution quickly. The fraud is basically stealing specific things.
In 2013, over $21 billion was lost to fraud nationwide, it is considered the fastest growing crime and is perpetrated in nearly every country in the world. Fraud can come in many different forms, from identity theft to the thousands of different scamming tactics used. In its essence, fraud simply refers to deceiving or cheating someone in order to make money or get personal gain. Last year 11,571,900 people became victims of fraud. Fraud is by far the most devastating and expensive crime in the world, and it continues to surge on in full force.
The advancement of technology over the years appeared to be the greatest thing known to mankind. With the Internet, the world is at one's finger tips and just about anything can be accessed using it. This is not necessarily a good thing, with crimes like creidt card fraud going around. The number of credit card fraud incidents is rapidly increasing as the years progress. Anybody with a credit card could possibly be a victim of this crime and it should be taking seriously. One’s life could be ruined if their information gets into the wrong hands.
Certainly, the most targeted institutions where fraudulent activities seem to be a promising “career” are the banks. The institutions for example in US lose approximately Sh.15.5 million on a daily basis in a multifaceted fraud, which has persistently threatened the growth of the banking sector. The shocking revelations by the independent analysts, as well as, the bank fraternity indicate that innovative fraudsters have now employed the uses of various advanced means to...
Many people like to buy a car for your family in order to fulfill a committed dream. You visit a car dealer showroom where you find many vehicles that are put on display, featuring attractive looks which makes you impatient from buying a one. In a hurry, you make a payment and you ward off with your purchase.
Fraud and white-collar crime are common forms of crimes that people commit in various aspects and positions in the corporate world. Fraud and white-collar crimes have similar meaning as they refer to the non-violent crimes that people commit with the basic objective of gaining money using illegal means. The cases of white-collar crimes have been increasing exponentially in the 21st century due to the advent of technology because fraudsters apply technological tools in cheating, swindling, embezzling, and defrauding people or organizations. White-collar crime is a complex issue in society because its occurrence is dependent on many factors such as organizational structure, organization culture, and personality traits. Thus, the literature review examines how organizational structure, organizational culture, and personality traits contribute to the occurrence of white-collar crimes.
The 90's internet boom gave rise to new ways of writing in through access to cyberspace. What used to be printed or handwritten on physical surfaces such as paper, cardboard, or bulletin boards has changed to 0's and 1's, bits and bytes of digitized information that can be displayed thru the projections of computer screens. Moreover, the internet has made the process of publishing one's works, writing letters, or chatting with one another much easier and convenient for everyone around the globe. The internet became a universal tool, giving much freedom and flexibility to the users; it gave them opportunity to deliver their thoughts with little or no restrictions. Since it's impossible to regulate all cyber-activities, internet users are often unrestricted by the normal laws or authorities that would set boundaries around the various online transactions. More importantly, the fact that a net user can take on different identities in cyberspace brings about several ethical and social issues. These anonymous and unrestrictive characteristics of cyberspace often permite abusive users to easily involve themselves in serious cybercrimes such as cyberstalking, cyber-rape, and cyber-harassment through chatting services, emails, cyber communities, and other online communication.
amounts of memory being used and the file usage if something is going on that
In the face of society, financial identity theft can be a grim and even fatal situation. The deprivation of money is one of humankind’s greatest worries, and very few solutions are available. If you disagree, think again: without money, how would simple things like eating at McDonald’s be possible? An ordinary mall stroll can become a life-threatening circumstance if a swindler decides to steal your credit card, leaving those you care for in a nasty scenario. The lasting impact that financial identity theft develops can morph into problems such as economic stress, beneficial loss from the government, and fraudulent crimes.
Privacy is the condition of being free from public eyes. Social networks make people the world become closer. However, when the community is widened, and more people can get to know each other freely, private information can be found by strangers easier. Moreover, people can use advertisement on the internet to persuade other people to give personal information. Then, they use the information to claim to be someone else and trick others. For example, some people create lucky draw or lucky games in order to steal private information such as identification number, telephone number, and bank account number; malefactors can use all of the information in order to commit crimes. According to Identity Fraud Study done by Javelin Strategy & Research (2017), 16 billion dollars were stolen from 15.4 million U.S. victims in last year, compared to 2015 which were 15.3 billion dollars and approximately 13 million social media users. Hence, the number of victims is continually increasing due to a lack of privacy on the
Research shows that anyone can commit fraud regardless of his age, gender, education level, status and others. Findings from the Association of Certified Fraud Examiners (ACFE) Report to the Nations 2016 on Occupational Fraud and Abuse that the frequency distribution shows that 55% of fraudsters is commonly between the age of 31 to 45% and more likely male than female. Males are not only larger in number of frauds but they also generally cause larger losses which the median loss caused by male fraudster was 187,000 USD while the median loss by a female fraudster was 100,000 USD.
Damages done by the fraud to any organization can be huge if not prevented. The main role of internal auditors in an organization is the detection and then prevention of fraudulent activity that is why the organizations are paying for them. Some fraud activities have happened in the Ajax Export Corporation. The fraud is done by accounts payable clerk with a quantity of $18,000 by writing checks to herself and charging the expense to miscellaneous account/ expense. This process according to the examination has occurred over the period of three years. The issues which are addressed may have the following recommendations.