Essays on Bank Account

Social Engineering is the art of deceiving or manipulating a person to engage in an activity which may or may not be in the best interest of that person. Social engineering encompasses activities such as obtaining the information of someone else deceitfully, gaining access to the computers of other people without their consent and getting a person to fraudulently engage in activities which they could not have engaged in ordinarily (Hagnagy 9-10). Further, social engineering does not consist of merely one action. On the contrary, social engineering entails a multiplicity of skills fitted into a particular framework which when ...

Money laundering refers to the criminal activity in which money and funds that have been obtained illegally are used to fund or support legitimate and legal activities. In the process, the illegality of the original criminally obtained money and funds is, in essence, “washed” through its use in the legal activity. A more formal definition of money laundering defines it as, “the process through which criminals, hide, disguise, and legitimize the financial proceeds of their crimes” (FATF). There are a number of benefits that money laundering provides to criminals. First, by using the money to fund legal activities, money ...

Introduction

In the world of commerce, most individuals and organizations act on the basis of delegation. And delegation of authority leads to the formulation of an agency relationship. The agency theory is based on the view that a principal vests power in an agent to represent the principal in certain situations specified in the agreement. This creates a fiduciary relationship and the agent will have to act in the best interest of the principal. Fiduciary relationships mean an agent must act in the best interest of the principal. This include the provision of some parameters within which the agent can ...

The ending checkbook balance is 142.57. The outstanding checks include UNO Bookstore 121.38, blockbuster 6.12, parking sticker 18.50 and student fees 20.00 and the deposits in transit include 4/28 deposit of 75.00. The interest paid on the bank account was 1.15, and the service charges were 7.50. = 142.57 + 121.38 + 6.12 + 18.50 + 20.00 + 1.15 – 75.00 – 7.50 = 227.22 The cashbook ending balances tally with the cash balances of the bank statement where 227.22 is the end balance. The deposits and the outstanding cash deposit are listed as well as other all the credits in the check register which are not in ...

As your authorized legal adviser on the matters that you have disclosed, I have attached the necessary legal challenges that you are faced with and finally the best possible way of avoiding legal action by complying with the set out legal regimes.

Facts

Reading the information that you have availed in regards to receiving a w9 from your foreign bank, this may elicit many questions as may relate to the reasons of receiving such a letter as well as the consequences of receiving such a letter. However, I will guide you into pursuing the best option to explore since you ...

Introduction

The question that comes to mind is what is Trojan horse? Trojan horse is stated to be a malicious program that looks harmless however, it is used to hack into people’s computers. The term Trojan horse is derived from Trojan War a Greek mythology (Christensson, 2006). The myth talks about the wooden horse that was pulled by the people from Troy. The legend claims that inside the horse there were Greek soldiers in it who emerged at night and seized the city. This fact can be observed from the program where a person installs the application unaware that ...

Phone encryption is a temporary way of securing the data on a mobile device. Data can be lost or tampered with when the phone is lost, damaged or stolen. When the phone gets into the wrong hands, the data and information can be transferred and wrongly used. When a phone is encrypted, the contents and information are turned into cipher text. Anybody trying to read the information cannot read it (Ciriani, et al. 6) When the phone is returned to the owner, the same method that was used to encrypt the phone can be used for unlocking the phone ...

(Institution Name)

Summary

Cyber laws are established to ensure safe, fair and responsible use of the internet by all the users whether they are common internet using citizens or law enforcement agencies. These laws have been designed and have been evolving ever since because of the ever expanding canvas of the ethical considerations involved in the use of the internet. The law is confined to logic and debate, and anything that has not been debated on or legislated cannot be made a law and is hence the responsibility of the user as their ethical and moral duty. The common internet ...

Background information

The advancement of information and technology has led to a significant revolution in the banking industry through the development of automated teller machines (ATM). These machines allows customers to carry out functions such as deposit of cash, withdrawal of money and securing statement of accounts. To access an ATM service, customers must have ATM cards. The respective financial institutions issue these payment cards to their customers to increase service efficiency and effectiveness (Narteh, 2013). Conventionally, customers could make long queues as they carry financial transactions from tellers. In today’s business world, ATM cards have made it possible to ...

In the materialistic world that we live in today, money has become the center of our lives focus. It has become hard to ignore this commodity because everything comes with a price tag. Consequently, it has evolved throughout history and the paper money we use today is the modern day method of buying and selling. However, paper money is not the only means to make purchases. Ways to purchase items can further be classified into three categories; debit, credit, and cash. As a result to make lives even more convenient for the modern day customer the idea of plastic ...

Abstract

This dissertation formulates a research dissertation and strategy for a study into the impact of Islamic banking on the economic development of societies within which such banks operates. To this end, the research examines the major tools and impacts of Islamic banks on society by conducting a literature review. This is followed by the deduction of research questions and a hypothesis that will be used to form the parameters of the entire research. The purpose of this dissertation is to investigate the relationship between the growth of Islamic banking worldwide and economic development of countries wherein this growth is ...

Part A:

The following is a self-financial plan for a Canadian single man of 24 years. I received in 2015 a degree in a Canadian college and started to work in a tech company. I need a financial plan from the current date 2016 until my death. The estimated death age is 82 years old according to Canadian Census . The development of each step of the timeline and goals requires my knowledge, experience and money. Canada is the external environment to consider, a country with an economy tied to the United States of America, the minerals and oil exploitations and the ...

Data security is as important as securing our bank account information. It serves as important information that must be secured not just to avoid financial insecurity, but the person’s personal security. It is also vital for companies that need to secure their important company data to ensure that the organization is free from internet hackers. Confidential pieces of information used for payment process, client information, and even bank account information to personal files as well as the documents must be safely stored. This information, once fallen into the hands of a person with no authorization is a potential danger to a ...

Money and the manner in which two partners built and maintain their relationship is important in any partnership. To be fair and committed to each other in a long term, both partners should be open and honest in their money matters to each other. Ideally, they should have a strong agreement about their mutual financial decisions. We are simple mortals who may have lots of good intentions, but also plenty of obstacles that hinder us from realizing those intentions.

Money affairs and disagreeing over money issues is not unusual in most families. I think the richer the family is, the most financial ...

Introduction

Internet has changed our lives in many ways; the information technology has made modern, well-developed and advanced world where life gets easier than ever before. People use internet technology for attaining information in the most inexpensive and easiest way. The study suggests that around 900 million people in the world are using the internet (Masci 1998, 14). This is one of the best medium of communication. However, the question arises, are there any challenges associated with internet privacy or security or not? The internet privacy is defined as a status in which individual’s information is not being accessed without ...

A bank reconciliation statement is the process whereby the transactions from the bank account statement as provided by the bank and the firm’s own records of account are harmonized. Alternatively, it is a form that allows for a comparison between an individual’s personal account records and his bank’s records of the individual in order to detect any possible differences.

Purpose of the bank reconciliation statement

Firstly, the bank reconciliation statement is used to compare one’s personal accounts to those of his or her bank account. Secondly, it is used to see if a customer’s cheques have bounced, altered or even been cashed without ...

There are many instances in my life wherein I ask myself the question “How did I live?” I cannot remember my childhood too much. All I can remember is that I suddenly became a conscious being—able to see, hear, feel, and basically observe everything in my surrounding. I grew up as a toddler, then a few years later, as a child. Of course I had a lot of realizations when I was a child. Childhood, for me, is the age of enlightenment. I do not know what childhood is for others or how they see or treasure it, but I am pretty ...

In the early days, a person is required to go to the bank personally and withdraw his money manually from his account. He would have to wait for countless hours in turn before he could have his money. He has to fall in line, fill-up forms and wait for the teller to count the money. However, this method of getting money from the bank can become a hindrance especially in certain instances such as in emergencies, trips or even in purchasing items. Today, ATM cards are issued to allow clients to access their bank accounts wherever they are and for whatever ...

The rational choice theory is of the opinion that an individual acts by weighing the costs and benefits brought about by an action at the end through the use of personal advantage. As far as crime is concerned, the theory assumes that the rational decisions made by criminals to engage in any crime are made through the revision of all outcomes and possibilities. The outcomes depend on the benefits the criminals get by committing these crimes. Criminals do however consider the consequences of their actions, such as imprisonment and tread with care in the process of committing a crime. The ...

Introduction

Working abroad is a unique issue, though. Can you face leaving behind family and friends? Are you ready to start things again in a new location? If the advantages of working abroad outweigh the disadvantages then go for it! Try to keep yourself motivated for the idea of moving abroad by focusing on the advantages and make sure your heart is in it. The concept of travel has indeed changed. Unlike in the earlier years, when travel is viewed solely as a leisure activity, travel is now associated with work and pursuing greater opportunities. Aside from the possible monetary gains, working abroad ...

Source: (MDD, 2013)

Whenever a merchandise sales is made on credit, the sales information is recorded in the sales day book. This is the first document where the records are entered, and they are also known as books of prime entry. In the general ledger, there are accounts for Cash, Accounts Payable, Sales, Purchases and Depreciation. The sales will be recorded in the sales account of the general ledger. The account of the customer who has purchased the goods from the company is going to be debited. At the ends of the period the difference of the debt side and the credit side ...

1.0 Overview 1.1 Introduction 1.1.1 Brief description of technology and associated Science Wireless mobile payments rely on the technology of wireless internet connection as one of the emerging technologies. Mobile devices are used to affect various transaction payments ranging from paying bills, bank withdrawal and deposits, sending and receiving of funds, debt payments among others. All these transactions can be settled by the mobile handset holder irrespective of his or her geographical locations and irrespective of time. It is thus more efficient and reliable in reducing congestion of queues in banks, improving the speed of operations ...

IRISH EQUITY LAW

IRISH EQUITY LAW The Mareva injunction is a very powerful remedy which if improperly invoked will bring about an injustice, something that it was designed to prevent’

Introduction

- Definition of Mareva Injunction: A Mareva Injunction is defined “as an injunction which freezes a defendant’s assets, preventing their dissipation, and ensuring that they shall be available to the plaintiff, in the event that the plaintiff succeeds in the trial of action.” In the case of Bank Mellat v Nikpour, the judge described Mareva injunction as “one of the law’s two nuclear weapons”. In O’Mahoney v Horgan ...

RESPONSE: THE SEVEN HABITS

Response: The Seven Habits of Highly Effective People The Seven Habits of Highly Effective Person is one of those books that I feel could really help me develop into a better person. I agree with Jim Collins who wrote in the foreword that the book is not guide on how to succeed in life or a career. It is not the usual self-help good. Rather, the book is about character development. It is hard to question Covey’s underlying philosophy in the development of character. It is character that determines who we are, how we feel, and how we ...

Online identity theft

Online identity theft occurs when an unauthorized party acquires personal identifying data about someone such as credit card or bank account information through the internet and uses such information to commit fraud or other criminal activities. Factors that promotes online identity theft can be political, economic, social or technological in nature (Hedayati, 2012). Political factors include instability and civil wars that cause massive illegal immigration to other countries where immigrants steal identities in order to secure employment. Economic factors include unemployment and poverty that force people to engage in criminal acts. Social factors include the uninhibited communication within social ...

Introduction

Mobile banking or as it is commonly referred to as mBanking is banking that is executed through the mobile phone device (Siciliano). It is a means of managing one’s finances in his or her bank account by carrying out transactions through a mobile phone device. There are various challenges and opportunities that mobile banking presents. This paper analyses these advantages and disadvantages analyzing the weaknesses and strengths of mBanking in regard to what clients of mBanking should do in order to ensure the security of their finances when transacting through mBanking.

Mbanking Opportunities and Challenges

The earliest form of mBanking was carried out through ...

Introduction

The introduction of banks replaced the traditional method of storing money. During the Stone Age period, human beings stored their possessions in caves and caverns. An ancient Chinese legend talked of a dragon which was the kept by villagers to guard their treasure. The banking industry replaced the need for hiring animals and soldiers to guard their possessions. The advent of banking replaced the barter trade and signaled the demise of the traditional method of keeping money. The conventional banking system was first developed in England. Banks kept equal an equivalent amount of gold or platinum with the amount of ...

- Suppose your bank account will be worth $4,200.00 in one year. The interest rate (discount rate) that the bank pays is 5%.

PV = FV * [1 / (1 + i)t], where PV is the present value my bank account,

FV is the future value,

i is the interest rate the bank pays, and t is the time period (in years). Then PV = FV * [1 / (1 + i)t] = 4,200 * [1 / (1 + 0.05)1] = 4,200 * [1 / (1.05)1] = = 4,200 * [1 / 1.05] = 4,200 / 1.05 = 4,000

So, today the present value of my bank account is $4,000.00

- Suppose you have two bank accounts, one called Account ...

Law

Based on the article of Cerf (2012), he stated that internet access is not either a civil right or a human right. Internet access is powered by technology and technology is a means to enable rights, but cannot be considered as a right in itself. Cerf (2012) equates human right to one that refers to critical freedom or liberties guaranteed under the Constitution such as the freedom of speech, freedom of expression, freedom of access to information among others. Internet access is only a precondition for enjoying a number of human rights. The transformative nature of the internet does not only enable the individuals to ...

High culture has been extolled as having the ability of changing or elevating the fortunes of the poor, the working people and the immigrants in the United States. Several elite efforts have been employed and urged in this quest to help the poor and the immigrants get incorporated into the social unit. This essay examines how Levine’s elite efforts to use high culture to aid the cause of the poor and the immigrants plays out in the novel Ragged Dick by Horatio Alger. We begin from the position that the city of New York in the 19th ...

Introduction:

The concern and financial objectives of the old lady can be met on the basis of a sound financial plan. The lady is investing her money in saving bank account but because of really low interest rates, she is now preferring her investment in ABC supermarket which she considers good for her portfolio. Another consideration that cannot be overlooked is her concern for dividends as the lady relies on regular income. Thus my decision at then end will be based on sound financial considerations and objectives of the old lady where i shall be comapring current situation in supermarket industry ...

In order for her to make the right financial decision, she needs to understand what it means to invest in shares from ABC supermarket, or save her money in a bank. Deciding whether to save or invest lies with the financial goals that you have. This is also determined by the financial position that the client is in (McAllister, Dowrick & Hassan, 2003). If your financial goals are more immediate e.g. going for a holiday, buying a car or even setting a deposit for a new house, it would be better to opt for a high interest savings account, which is easily accessed. On the other ...

The purpose of this case study is to analyze the non-profit charitable organization “Planet Water”: its main purpose, goals, history, services that it provides, significance and contribution to the world society. First of all, the project Planet Water is an American based, internationally aimed non-profit organization, which is focused at supplying the most disadvantaged communes with fresh, clean water, by means of installation special filtration systems in the remote districts. This program also provides educational programs with the purpose of teaching health and hygiene to the children. All their projects are focused on educational establishments such as ...

The way society has been impacted by materialism, the dominating sense of yearning to pursue wealth, is a complicated subject. According to research, young people are suffering from disillusionment when it comes to jobs and money. Studies also show that as young people become more and more materialistic than ever before, pro-social values and worth ethic are reaching an ultimate low. While materialism has made the youth greedy for money, it has also drawn them away from their potential to pursue a vocation that will bring meaning to their lives. Instead, a majority of the youth choose high-paying jobs where they can ...

Executive Summary 3

Overview of Current Situation 3 Summary of Needs and Objectives 4 Summary of Recommendations 4 Summary of Expected Outcomes 4 Important Information 5 1.0 Objective 6 2.0 Current Situation 6 2.1 How to get there 7 3.0 Recommendation 1 9 3.1 What is Salary Sacrifice? 9 3.2 Steps 9 3.3 Benefits of the Recommendation 11 3.4 Risk Associated with the Recommendation 13 4.0 Recommendation 2 14 4.1 Steps 15 4.2 Benefits of the Recommendation 15 4.3 Risk Associated with the Recommendation 15 ...

“Egg Foo Young Chicken!” The Chinese girl at the counter handed Richard a tray of food and placed a fortune cookie next to his drink. “You have a good day, now!” So hungry, Richard ate all of his food in five minutes. He took the plastic from the cookie and bit into it, taking out the little piece of paper that had his fortune written on it. Finishing his coke, he read the message and almost spit out all of his drink.

“Richard, your wife is having an affair.”

How could this cookie know his name? How could this cookie know he was married? How could this cookie ...

Executive Summary

This case study focuses on identifying fraudulent issues taking place in the given four situation of Forensic Accounting. It identifies the issue on hand for every situation and goes further to discuss the in details the presence of elements such as coercion, collusion, and concealment. Nevertheless, the paper utilizes the fraud triangle to explain how the fraudulent acts are committed. The conclusion for each situation discusses the possible ways of addressing the issues being identified.

Introduction

Fraud have been on rise in forensic Accounting creating path for more investigations in order to identify ways in which these frauds arise and ...

I. Introduction

More and more foreigners contemplate to retire overseas. They want to retain their citizenship but they want to retire abroad. This idea is enticing. Financial consideration is the main concern. Others include the political conditions in the targeted retirement destination, taxes, cost or standard of living, among others (Todd, 2010). They eye overseas retirement as they want to enhance the value of their retirement money. In this case, they need to carefully assess their options. For instance, Americans who want to retire in cost effective, exotic place should address many financial planning issues, including taxes, insurance, investments and ...

All businesses require a business plan for success especially a Private ATM business, as it is new and its characteristics are not so well known all over the world. A Business Plan is a report which spells out how the business will be carried out so that it is profitable. The business plan serves the following functions (a) it spells out clearly what is to be done and in what circumstances (b) it lists down the priority of the actions. Finally (c) it forms the guide to our business so that in case any party who has been approached for part finance can go ...

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Abstract Keywords: purchasing power parity, inflation, exchange rate, foreign investment, domestic investment International Monetary Relations The paper aims to understand international monetary relations with respect to currency exchange rates, varying interest rates, inflation rates and purchasing power parity between nations. The calculations are made on the assumption that I have won the Irish Lottery. I bought a ticket while I was on vacation in Ireland and my winnings amount to 1 million (euros) after all taxes were taken out.

Question 1

If the current exchange rate is US$1 equals €0.70, how much did you win in US dollars? ...

Research on the Impact of Internet Fraud on International Trade

Internet Banking at Risk in the Virtual Environment

Technology had greatly influenced the way people do about their daily lives. The convenience that computers and internet brought dramatic changes particularly to the business sector. Technology enabled companies and their clients to make transactions over the virtual environment with the aid of internet connection. Having that convenience of technology allowed the majority of the world's population to rely on internet-based transactions at their own comfort. However, organizations and private individuals are not the only one lurking around the virtual community. There are several eyes waiting to capture those transactions and ...

Issuing Common Stock

A company may issue its’ common stock at par value, below the par value or above the par value. When a company issues common stock below the par value, the company will transfer an amount equivalent to the aggregate par value to the common stock account. The amount in excess of the aggregate par value of the common stock is then transferred to the Share premium account.

For Example:

Assume that Green Marketer Ltd is a public listed company. On 2nd June 2010, it issued 10,000 shares of its common stock with a par value of $5 to the public at $10 each ...

Introduction

Vodafone Company is the largest telecommunication company in the world with a customer-base of about 130 million subscribers globally (Company Spotlight, 2010). It operates in more than 26 countries that are distributed in different continents and employs about 65,000 staffs to facilitate their telecommunication services to their customers. The company headquarter is based in London though it has well established offices in all the regions where it provide its services. Vodafone is a public limited company with listings in New York and London stock exchanges (Company spotlight, 2010). This paper analyses the operations of this company and the marketing strategies ...

Merliah limited makes an offer to issue 10 million shares to the public at an offer price of $1.00 each share. These shares are to be paid up in 3 instalments, with the first payment of $0.5, the second payment of $0.4 and the balance in the third instalment. The first payment is to be made on application, the second payment on allotment while the last payment is to be paid as a first call two months after the close of the applications on 31st august 2011. Applications have however been received for 14million shares, indicating an oversubscription by ...

Introduction

Invading the privacy of businesses, institutions, and people, social engineering creates criminal acts using telephones, illegally accessing private information via computer accounts called "hacking", stealing bank account information, as well as eavesdropping are social engineering crimes. Two types of social engineering exist, including, human and technological based (Peltier, 2010). Social engineering uses deception, manipulating people into giving them personal information including social security and bank account numbers (Halles, 2008). Social engineers use tactics to extract private information including appealing to people's vanity, authority, look, over peoples' shoulders while entering pin numbers, and eaves drop. In his article, "Mitigating the ...