Essays on Financial Crimes

The story by Don DeLillo is about two teenage girls appearing on a kids’ television channel. The setting is in a minimum-security prison in Dubai, where criminals charged with financial crimes are rehabilitated. One of the criminals happens to be the father of the teenage girls who are presenting the market news and reports. Issues of financial market and financial reports that the girls are reporting on are too advanced for them. Observing the very first show they present, we understand that they have no understanding of what they are presenting; they have been given scripts with the reports, which they ...

Terrorism

Forecast 1: The number of offenses reported to the police involving computers and electronic storage media will continue to increase substantially, requiring changing priorities for resource allocation, new training for line officers and investigators, new police specialties, and new knowledge for prosecuting attorneys and judges. Electronic devices that store data are becoming varied and easily accessible. All of them are potential goldmine for investigators. At the same time their storage capacity is increasing; their size is getting smaller; and their prices plummeting. Against this background, modern criminal are using these devices in ways which are unfamiliar to investigators ...

In the opinion of Pickett and Pickett (2012), corruption may be described as the misuse of power for individual gain. Sometimes, corruption is interchangeably used with bribery. In the opinion of Santoro and Strauss (2013), bribery is the act of offering, seeking or receiving any valuable item to sway the actions of people with power in discharge of public duty. Forms of corruption involve fraud, embezzlement, favoritism, collusion, and extortion. Evidence shows that corruption and bribery have been practiced for many years; although up to date, they have attracted increasing attention. It is unclear whether the attention of corruption ...

Introduction

An accounting framework essentially influences the way business entities delineates success. Traditional accounting predominantly concentrates on increasing the shareholder value while also influencing the bottom lines of the business in terms of its finances. However, an growing number of corporations now-a-days, are primarily interested in either the so called “double” or “triple” bottom line accounting. Their focus is not just on measuring the impact their business practices have on the financial bottom line, but also upon the impact their business practices have on their personnel, the societies in which they operate, as well as the environment surrounding them. ...

1. Federal, State and Local Agencies

Federal: United States Secret Service (USSS)

The United States Secret Service (USSS) is an integral component of the Department of Homeland Security responsible for handling of financial crimes and the protection of national leaders and their families. Currently, the USSS has an estimated 6,700 employees and 4,400 sworn members dealing with problems on fraud concerning the financial institutions and transactions of the US. Yet, the death of President William McKinley by assassination in 1901 led to the expansion of the role of the USSS to include the provision of safeguarding mechanisms for national leaders and all those ...

<instructor’s name> <date submitted> 1. Federal, State and Local Agencies

Federal: United States Secret Service (USSS)

The United States Secret Service (USSS) is an integral component of the Department of Homeland Security responsible for handling of financial crimes and the protection of national leaders and their families. Currently, the USSS has an estimated 6,700 employees and 4,400 sworn members dealing with problems on fraud concerning the financial institutions and transactions of the US. Yet, the death of President William McKinley by assassination in 1901 led to the expansion of the role of the USSS to include the provision ...

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 ...

Introduction

Satyam limited, which is a Nasdaq-listed company, is one of the largest Global IT services firm. It has a portfolio of Major American and Australian companies such as Coca Cola, Citigroup, Telstra and Quantas.

The former chairman of the company, Ramalinga Raju admitted he had been tampering with the books of accounts. The company had been experiencing losses which he was covering up to reflect that the company was making a profit. He shockingly revealed that 94% of the cash and other assets, amounting to US$1 Billion, of the company did not exist. There was also the pressure from the market ...

Abstract

The movie, Inside Job, Narrated by Matt Damon won 2011 academy award as the best documentary of 2010. This movie is an expose of the causes of the global financial meltdown and economic crisis in 2008, leading to loss of trillion of dollars and thousands of jobs. This paper will analyse the movie with a view of finding out the goal of the filmmaker and successes of the movie. It will also make a reaction towards the movie and suggest some recommendations that would deter the recurrence of such a crisis.

Inside Job Analysis

Inside job is a brisk fast paced financial documentary whose title suggests a ...