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Fraud: Tyco, 2007.
This paper examines the fraud fiasco at Tyco International Ltd.
2,139 words (approx. 8.6 pages), 8 sources, APA, $ 66.95
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Abstract
In this article, the writer notes that the 21st century saw the frauds committed by executives of Enron, WorldCom and Tyco. The writer points out that these frauds concern not a pitiful few thousand dollars in change but the betrayal of public trust, amounting to theft of billions of dollars over a period of several years. This paper focuses on the Tyco fiasco and examines it in detail. The writer discusses the actions of the three Tyco executives concerned and maintains that their downfall is their own doing and that they will spend most of their twilight years in prison with history books judging them as thieves and con artists of the grandest scale. The writer then concludes that these same individuals have ultimately contributed to the betterment of corporate social responsibility, corporate governance and fiscal responsibility because better and stricter regulations have been implemented to prevent re-occurrence of their actions not only at Tyco but other corporations as well.
Outline:
The Reckoning
Perpetrators and Discoveries
How Could It Have Been Detected Earlier
The Red Flags
Lack of Controls?
End Game
From the Paper
"In the contemporary setting, the men whom the gods wish to destroy are the icons of American industry that supposedly brought myriad riches to the coffers of various American corporations. But these industry and finance magnates forgot they are mere mortal, men of flesh and blood whose mortality is guaranteed. Yet for the power given to them, they felt they are demi-gods or gods themselves that could rule and conquer the corporations they supposedly lead. The beginning of the century saw the downfall of these gods of American corporations and the gods indeed deprived them of their senses - that of the sense of propriety, decency and humanity. Hence, the 21st century saw the frauds committed by executives of Enron, WorldCom and Tyco."
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The Tyco Trial, 2004.
An analysis of the Tyco trial, with reference to the statute of limitations and the Uniform Electronic Transactions Act (UETA).
865 words (approx. 3.5 pages), 4 sources, MLA, $ 30.95
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Abstract
This paper discusses the Tyco trial in which the defendants were charged with enterprise corruption in violation of Penal Law 460.20(1)(a). The paper explains that this was done by creating and participating in a criminal enterprise, the sole purpose of which was to obtain money by theft and fraud from Tyco. In addition, the defendants were charged with larceny.
From the Paper
"To prove the enterprise corruption charge, the government had the burden of establishing that the defendants created and operated a criminal enterprise, falsified records, concealed and distorted information, and bribed others in order to further the goals of their criminal operation. The government had to prove the structure of the criminal enterprise, including that Kozlowski was the boss of the enterprise and had actual control over it. Furthermore, the government had to establish that Kozlowski used Tyco's treasury to pay his personal bills. The government had to prove that Swartz exercised actual control over the transfer of funds and caused Tyco's filings with the United States Securities and Exchange Commission to be false and misleading.
To prove the larceny charge, the government had to prove that the defendants misappropriated funds from Tyco."
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Insurance Fraud, 2002.
An in-depth insight into insurance fraud, what it is, and what measures can be taken to prevent it.
10,871 words (approx. 43.5 pages), 18 sources, MLA, $ 215.95
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Abstract
This paper attempts to identify the different types of insurance fraud perpetrated today and to evaluate their effect on the insurance industry and society at large. After tax evasion, insurance fraud is considered the highest-ranked among white-collar crimes. It provides a history of insurance, examines in detail the main types of insurance frauds currently around and discusses the measures that can be taken to help prevent and reduce the number of fraudulent claims.
Table of contents:
Abstract
Introduction
History of Insurance
Insurance Fraud
How Insurance Frauds Affect Society
Classification of Fraud by Insurance Companies
Insurance Fraud Status as a Crime
Types of Insurance Frauds
Staged Auto Accidents
Arson-for-Profit
Health Insurance Fraud by Individuals and Corporations
Workers' Compensation Fraud
Property/ Casualty Insurance Fraud
Agent Fraud
Fake and Real Deaths to Collect Life Insurance Money
Identity Fraud
Efforts to Reduce Insurance Fraud
Conclusion
From the Paper
"One of the most famous insurance providers in the world today, Lloyd's of London came into existence in 1688. Edward Lloyd owned a coffeehouse in London where merchants and bankers evaluated the risk of the maritime operations of seafaring vessels used for trading among the various British colonies and those used for prospecting new lands. Financiers for the expensive endeavors and trips to far off lands invested huge amounts of money in the hope that the voyages would be successful. Ship captains required money for supplies and goods, and would offer to embark on these dangerous trips with the help of these financiers?a potentially, mutually beneficial endeavor."
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AIG Insurance Accounting Frauds, 2005.
This paper discusses frauds involving AIG and principles of accounting relating to the prevention of these frauds.
1,455 words (approx. 5.8 pages), 6 sources, MLA, $ 48.95
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Abstract
This paper explains that the American International Group--AIG, the world's largest insurer--was reported to have arranged deals to manipulate financial figure in its own records and those of General Re, a reinsurance company, resulting in financial fraud during the autumn of 2000. The author points out that AIG also was involved in another accounting fraud with Brightpoint Inc., which was reported by the Securities and Exchange Commission in 2003; AIG worked closely with the Brightpoint people to tailor an alleged insurance policy that let Brightpoint overstate its earnings by an amazing 61% in a cash circulation deal from Brightpoint to AIG and again back to Brightpoint. The paper defines receivables are monies due from the customers, which are tallied by invoices and happen due to operating cycle's process of selling inventory or services on terms that permit delivery before cash is collected.
Table of Contents
The General Re Fraud
The Brightpoint Fraud
Cash & Accrual Basis of Accounting
Receivables and Inventory
Fixed and Intangible Assets
Liability & Stockholders Equity
From the Paper
"Under the cash method of accounting, the books are maintained on the actual cash flow. Income is recorded on its receipt and expenses enter the books on their actual payment. Whereas majority of the businesses use the accrual basis, the most correct method for the company depends on the sales volume, credit policy of the company and business structure. In case of the accrual method, income & expenses are recorded while they occur, notwithstanding whether there has been exchange of cash and an example of this is sale on credit. Accrual method is appropriate when the annual sales are more than $5 million and the business is a corporate organization. Besides, it is suggested that while selling on credit, matching of income and expenses during a given period must be done."
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Mortgage Fraud, 2004.
This paper discusses the history and problems of mortgage fraud.
8,060 words (approx. 32.2 pages), 16 sources, APA, $ 173.95
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Abstract
This paper explains that many independent studies have shown that the majority of consumers targeted by predatory lenders are minorities or in a lower income bracket: Fraud seems to target those who can least afford to survive it. The author points out perhaps it is because fraud is so pandemic in the industry today that less is being done to combat fraud than one might expect. Mortgage companies frequently fail to report fraud, and when they do, it is frequently put on hold by law enforcement. The paper states that change will only come when systematic changes are made to the structure of the system. Dishonest lending and borrowing have always plagued humankind, so it would be overly optimistic to hope for a solution. Extensive end-note information.
Table of Contents
The Dead Pledge Heritage: Are Mortgages Inherently Susceptible to Dishonesty?
The New Big Deal: Modern Mortgages and the Road to Fraud
How Loans Are Open for Fraud
How Fraud Works In the Real (Financial) World
Regulations: Attempts, Concerns, and Failures
Conclusions
From the Paper
"Not incidentally, though, this government move was at least partly in response to a significant issue in America with predatory lending. Prior to the founding of the FHA, the American mortgage industry had already gotten its start. ?And, it wasn't banks ...it was insurance companies. These daring insurance companies did it, not in the interest of making money through fees and interest charges, but in the hopes of gaining ownership of properties if the borrower failed to make the payments on it.... the repayment schedule was spread over three to five years and ended with a balloon payment. ? It was the FHA that started the amortization of loans so that indebtedness could decrease over time. They also instituted practices of lending based on ability to repay the loan, judging the quality of the property involved before making the loan, and expanded loan terms so that they could be feasibly repaid (instituting seven, fifteen, and thirty year loans). The government pushed extensively in this years to create fair, non-predatory lending situations."
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Insurance Fraud, 2002.
Examines the pervasiveness of this type of crime in contemporary society.
1,689 words (approx. 6.8 pages), 6 sources, MLA, $ 54.95
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Abstract
After tax evasion, insurance fraud is considered the highest-ranked among white-collar crimes. After providing a brief history of the concept of insurance as a for-profit business, this paper explores the issue of insurance fraud. It discusses the three major categories of fraud in the insurance industry based on what side the perpetrator of the fraud is: claims fraud, applications fraud and fraud committed by employees in the insurance industry. The paper examines agencies that fight insurance fraud and discusses other means that society can rid itself of this type of crime.
From the Paper
"Insurers classify fraud as either ?hard? fraud or ?soft? fraud. When an accident, injury, theft, arson or any other loss is deliberately staged either individually or as a group to collect money from insurance companies the crime is classified as a hard fraud. It has been increasingly observed in recent times that organized crime groups and regional gangs are getting involved with more large-scale and intricate methods of swindling the insurance company using hard fraud methods. Innocent bystanders or individuals who are desperate for money may get involved with these staged accidents that may endanger their life and property."
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Automotive Fraud, 2007.
This paper explores the presence and impact of fraud within the automobile industry.
1,656 words (approx. 6.6 pages), 9 sources, MLA, $ 53.95
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Abstract
This paper discusses common areas of fraud found within the automotive industry, examining both the new and used car sectors. The paper looks at how certain types of fraud are discovered and how these frauds can be prevented. The paper also examines the economic impact of fraud within the automotive industry. The paper shows that while fraud within the automotive industry is rampant and dangerous, well-informed consumers can avoid fraudulent purchases and help protect themselves.
From the Paper
"According to legal statistics, the most common form of fraud within the new vehicle industry is that of defective design (OLM, 18). Thousands of individuals are injured or killed each year due to known defects in automobile design, including such issues as faulty airbags, door latches, brakes, fuel tanks, and rollover tendencies (OLM, 19). Some estimates show the National Highway Traffic Safety Administration issues over 30 million vehicle recalls each year, and these recalls are a small portion of the faulty design flaws realized (McDonald, 175). Since manufactures often weigh the costs of such recalls with the probability of damages awarded in a lawsuit resulting from injury due to the defect, only those defaults which may result in extremely high legal costs are completed (McDonald, 179)."
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Health Insurance Fraud, 2004.
A look at the growing problem of medicare and medicaid insurance fraud and what can be done to prevent it.
7,463 words (approx. 29.9 pages), 21 sources, MLA, $ 164.95
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Abstract
This paper critically evaluates the statutes purposely passed to tackle medicare and medicaid insurance fraud. It also examines the fundamentals, penalties, defenses, and safe harbor provisions for each and every statute, as well as concludes with a discussion of accessible legal safe harbor provisions. It discusses the wide-ranging federal statutes employed to impeach health care fraud, together with the False Claims, False Statements, and the Mail and Wire Fraud Acts, and explains the basics of the offenses, accessible defenses, and penalties valid under each statute. It also gives an indication of federal and state government agencies' pains to examine and take legal action against health care fraud.
Outline
Introduction
Statutes and Provisions Specifically Enacted to Address Medicare and Medicaid Fraud
Medicaid False Claims Statute
Penalties
Medicaid Anti-Kickback Statute
Sale of Physician Practices, Practitioner Recruitment and Obstetrical Malpractice Insurance Subsidies
Contracts for Space, Equipment, Personal Services and Employment
Advertisements and Promotions
Referral Services
Relationships Between Providers
Arrangements Between Providers and Health Plans
Relationships Between Providers and Suppliers
Prosecuting Health Care Fraud With General Federal Statutes
False Claims Act
False Statements
Mail and Wire Fraud
Conclusion
From the Paper
"An added safe harbor permits health plans with accords with CMS or a state health care program to give care for beneficiaries to augment coverage, decrease cost sharing amounts, or decrease premium amounts for enrollees under particular conditions. If the proposal is a competitive medical plan, health maintenance organization plan, prepaid health plan or any other plan with a contract with CMS or a state health care program, it has got to offer identical augmented coverage or reduced cost-sharing or payments to all Medicare or state health program enrollees unless CMS or the state endorses otherwise."
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Xerox Accounting Fraud, 2007.
An analysis of the accounting fraud committed by the Xerox Corporation, and the consequences of this fraud.
1,586 words (approx. 6.3 pages), 7 sources, MLA, $ 51.95
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Abstract
This paper discusses the accounting fraud committed by Xerox Corporation, which involved accounting irregularities in connivance with Xerox's auditing firm at that time, KPMG. The paper provides a background of Xerox Corporation and discusses the legal complaint filed against them in 2002. It describes the actions that were taken and the aftermath of the scandal.
From the Paper
"At present, Anne M. Mulcahy is the chairman of the board and chief executive officer of Xerox Corporation. She was appointed as the company's CEO on August 1, 2001, and five months later, was eventually given the chairmanship on January 1, 2002. Before reaching the top helm of the corporation, Mulcahy was Xerox's "president and chief operating officer from May 2000 through July 2001. Prior to that, she was president of Xerox's General Markets Operations, which created and sold products for reseller, dealer and retail channels. She began her Xerox career as a field sales representative in 1976 and assumed increasingly responsible sales and senior management positions. From 1992-1995, Mulcahy was vice president for human resources, responsible for compensation, benefits, human resource strategy, labor relations, management development and employee training. (About Xerox, 2007)" In the more than 30 years Mulcahy worked for Xerox, she handled several other positions such as "chief staff officer in 1997, corporate senior vice president in 1998, vice president and staff officer for Customer Operations, covering South America and Central America, Europe, Asia and Africa. (About Xerox, 2007)" She is a graduate of the Marymount College, New York and earned a Bachelor of Arts in English/Journalism."
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Health Insurance Fraud, 2002.
An examination of government efforts to curb Medicare and Medicaid insurance fraud.
7,463 words (approx. 29.9 pages), 21 sources, APA, $ 164.95
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Abstract
This paper critically evaluates the statutes purposely passed to tackle Medicare and Medicaid insurance fraud. It evaluates the fundamentals, penalties, defenses, and safe harbor provisions for each and every statute, and concludes with a discussion of accessible legal safe harbor provisions. It discusses the wide-ranging federal statutes employed to impeach health care fraud, together with the False Claims, False Statements, and Mail and Wire Fraud Acts and explains the basics of the offenses, accessible defenses, and penalties valid under each statute. It also gives an indication of federal and state government agencies' pains to examine and take legal action against health care fraud.
Outline
Introduction
Statutes and Provisions Specifically Enacted to Address Medicare and Medicaid Fraud
Sale of Physician Practices, Practitioner Recruitment and Obstetrical Malpractice Insurance Subsidies
Contracts for Space, Equipment, Personal Services and Employment
Advertisements and Promotions
Referral Services
Relationships Between Providers
Arrangements Between Providers and Health Plans
Relationships Between Providers and Suppliers
Prosecuting Health Care Fraud with General Federal Statutes
Conclusion
From the Paper
"Individuals and organizations licensed by Department of Health and Human Services ("HHS") to accept imbursement under the Social Security Act may focus on Medicare and Medicaid fraud examinations (7). Persons, as well as organizations comprise nursing and rehabilitation centers, hospitals, Health Maintenance Organizations ("HMOs"), intermediate carriers for example private and public clinics, private insurance companies, durable medical equipment ("DME") providers, medical laboratories, physician practice groups, physicians, as well as other certified health care organizations (7)."
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Consideration of Fraud in a Financial Statement Audit - Summary of the ASB Exposure Draft, 2002.
This paper summarizes the new ASB exposure draft on consideration of fraud in a financial statement audit.
2,060 words (approx. 8.2 pages), 3 sources, MLA, $ 64.95
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Abstract
This paper summarizes the ASB exposure draft on Consideration of Fraud in a Financial Statement Audit. This draft, which supercedes SAS 82, introduces new concepts and requirements to assist the auditor in detecting fraud. It discusses the definition of fraud, identifying risk of fraud, and general assessment of fraud risk. The summary outlines the appropriate response to each fraud risk identified through the analytical process, including evaluation of implications.
From the Paper
"As the need for new standards and ways to look for this fraud got stronger, the AICPA auditing standards board (ASB) responded by issuing an exposure draft on Consideration of Fraud in a Financial Statement Audit. This exposure draft would supersede SAS 82, which is the current standard for detecting fraud in an audit. The exposure draft was not meant to change any of the auditor's responsibilities in a financial statement audit but rather introduces new concepts and requirements to assist the auditor in detecting fraud. Some of the major areas that the exposure draft discusses are the description and characteristics of fraud, discussion of fraud and professional skepticism, a wider range of inquiries, identifying and assessing risks that can result in fraud, evaluating programs and controls and responding to the results of the assessment. "
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The Auditor and Fraud, 1999.
Examines the role and responsibilities of the external auditor in detecting fraud. Discusses standards, definitions, costs and risks, causes and types of fraud, corporate disclosure and uses tables.
2,025 words (approx. 8.1 pages), 14 sources, $ 71.95
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From the Paper
"THE AUDITOR & FRAUD
Introduction
This research examines the role of the external auditor in the detection of fraud. The increasing prevalence of fraud, together with increasing criticism of the accounting profession for high-profile failures to detect such fraud, has led to the implementation of changes in the practice of auditing.
Background on the Issue
Generally Accepted Auditing Standards (GAAS) are developed and enforced by the American Institute of Certified Public Accountants (AICPA) for the public accounting profession. The Securities and Exchange Commission (SEC), however, also exercises responsibility with respect to the auditing of public companies, and conducts its own auditing enforcement activities. In recent years, the ..."
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Investment Banking and Fraud, 2000.
An examination of the industry, functions, susceptibility to fraud, arbitrage and examples of fraud (Boesky, Milken, Leeson).
2,250 words (approx. 9.0 pages), 11 sources, $ 79.95
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Abstract
High profile instances insider trading, so-called rogue trading, and other illegal activities occurring in the financial markets frequently raise questions about why or how such actions take place.
From the Paper
"Investment Banking Culture and Fraud
Introduction
High profile instances insider trading, so-called rogue trading, and other illegal activities occurring in the financial markets frequently raise questions about why or how such actions take place. While many opinions have been offered, no definitive answer has emerged.
This study investigates the question: Do investment banks, because of their internal culture, lend themselves to the acts of fraudulent behaviors by some employees? This question is investigated through the testing of a related hypothesis. The HoHA research approach is followed in the formulation and testing of the hypothesis. The hypotheses are as follows:
Ho: There is no relationship between investment banking culture..."
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Academic Fraud, 2008.
An examination of a notorious case of academic fraud concerning ethics in psychology.
1,344 words (approx. 5.4 pages), 6 sources, APA, $ 45.95
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Abstract
This paper discusses the "notorious" case of academic fraud by Sir Cyril Lodowic Burt as presented by H. Beloff. The research focuses on the ethical problem presented, the ethical principles breached according to the Australian codes of ethics, the motives and justifications of a commitment of this breach, justification for such actions and solutions for dealing with instances of academic fraud. The paper states that while a brief discourse on the case of Sir Cyril is provided, the primary purpose of the case is to prevent fraud from occurring in the future.
Outline:
Academic Fraud
Cyril Burt
Ethical Issues and Disputes
Code of Ethical Conduct
Proposed Solutions and Actions
From the Paper
"The cardinal principles of the Australian Code of Ethics as dictated by the Australian Ethical Society (2003) suggest the following principles must be applied in psychology and in evaluation of academic fraud: (1) professionals have a duty to act using well-informed conscious decision-making, (2) professionals engaged in academic investigation have a duty to act in the interests of the community they serve, (3) professionals and academics have a duty to accept responsibility for the health, safety and welfare of their community before the welfare of their private or personal interests and (4) professionals have an obligation to act with honesty and in good faith to the community, and apply their skill and knowledge in the interests of the community."
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Bankruptcy Fraud, 2002.
An analysis of the multitude of issues related to bankruptcy fraud.
1,167 words (approx. 4.7 pages), 4 sources, APA, $ 40.95
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Abstract
This paper discusses bankruptcy fraud and how the bankruptcy system, an arm of the United States District Court, is a critical component of the United States government because of the impact bankruptcy filings have on national and local economies. The first part highlights five of the main issues concerning bankruptcy fraud such as the conflict between the purposes of the bankruptcy system and the reality of the bankruptcy process and the issue of corporate responsibility and bankruptcy fraud. The second part of the paper reviews two cases involving bankruptcy fraud and it concludes with solutions for eliminating and/or reducing it.
From the Paper
"Fourth, there is the issue of corporations and individuals who prey on debtors who are contemplating filing bankruptcy. Bankruptcy foreclosure scams target individuals whose home mortgages are in trouble. Scam operators operate over the Internet and in local publications, distribute flyers, target specific ethnic or religious groups, or contact individuals whose homes are listed in the foreclosure notices. These scam operators may promise to take care of an individual?s problems with their mortgage lender or to obtain re-financing for the individual. Particularly bold scam operators ask individuals to hand over their property deed to the operator, and then make payments to the operator in order to stay in the home."
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