Financial disclosure is the process of providing public access to financial information. Public officials are often required to...
Discusses the techniques for detecting fraud in financial statements. Improper revenue recognition; Revenue recognition in improper periods; Treatment of certain transactions as sales; Inadequate disclosure of related party transactions; Inco...
In some cases, the fraudster might be motivated by a desire to simply experiment with the deception as a kind of entertaining mischief. In other cases, their motives might be financial, with the aim of stealing the victim’s information and then either selling that information on theblack mar...
In the United States, a financial examiner is specifically someone who inspects tax records. The examiner looks at atax returnto confirm that it is correct, and that the taxpayer is in fact eligible for all of the exemptions claimed on the return. Some financial examiners work for the Interna...
The Fraud Triangle hypothesizes that if all three components are present — unshareable financial need, perceived opportunity and rationalization — a person is highly likely to pursue fraudulent activities. As Dr. Cressey explains in theFraud Examiners Manual: ...
What is the Scope of the Computer Fraud and Abuse Act? When the federal government first enacted the CFAA, the act primarily criminalized the intentional use of a protected computer without authorized access. However, over the years, through amendments and several supreme court case rulings, the...
Examine your credit report for signs of fraud, such as accounts you don’t recognize. While the credit fraud alert is in effect, if anyone, including you, attempts to apply for credit in your name, the financial institution receiving the credit request is expected to take additional steps to...
Financial fraud involves different basic types. Embezzlement is probably the most common, also known as larceny referring to the illegal utilization of finances by the person given the mandate of controlling them such as an accountant, using an organization's funds to fund personal needs. ...
1. Credit Card Fraud Credit card fraud is one of the most common types of loan fraud that identity thieves commit. After stealing your identifying information, a thief applies for a credit card in your name or commits any number of other credit card scams. Once it’s approved, the scammer...
Payment fraud is the criminal act of illegally obtaining sensitive business, financial, or PI (personally identifiable) information for monetary or personal gain. The fraudster’s goal is to break into other people’s online accounts and use someone else’s payment or personal information to blackm...