Posts Tagged: Fraud

Forensic Phone Tools

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

You might think that data extracted from a phone in a lab or police station can be a good thing. But what if the owner is a journalist? Questions: Source: Earp, M. (2023) Forensic Tools Open New Front for Using Phone Data to Prosecute Journalists. Global Investigative Journalism Network, Jan. 6 (Retrievable online at https://gijn.org/2023/01/06/forensic-tools-open-new-front-for-using-phone-data-to-prosecute-journalists/)

Don’t Believe Everything You Hear or Read!

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

You try to help those you know that are struggling with serious diseases or addiction, but can you believe treatment promises? Questions: Source: Rayo, A. (2023). Before you believe addiction or cancer claims, read this. The FTC.gov, March 16 (Retrievable online at https://consumer.ftc.gov/consumer-alerts/2023/02)

TD Bank settles Ponzi Scheme case

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, TD Bank agreed to pay $1.2 Billion to settle a Ponzi Scheme Case. Question: Source: Goldstein, M. (2023). TD Bank Agrees to Pay $1.2 Billion to Settle Ponzi Scheme Case. The New York Times, Feb. 27 (Retrievable online at https://www.nytimes.com/2023/02/27/business/stanford-ponzi-scheme-settlement.html).

The top 10 tax “crooks” for 2022

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Income Taxes, Uncategorized, Video Updates.

According to Accounting Today, the Criminal Investigation (CI) division of the IRS has released its top 10 cases for 2022. Which of the agency’s most prominent and high-profile investigations have you heard about? Questions: Source: Stimpson, J. (2023) The top tax crooks of 2022. Accounting Today, January 16 (Retrievable online at https://www.accountingtoday.com/list/the-irs-names-the-top-tax-crooks-of-2022)

Reining in Crypto

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, the SEC fined cryptocurrency lending firm Nexo for violating federal securities law. Questions: Source: Yaffe-Bellany, D. (2023) Crypto Lender Nexo Is Fined $45 Million as Crackdown Widens. The New York Times, Jan. 19 (Retrievable online at https://www.nytimes.com/2023/01/19/business/nexo-sec-crypto-fined.html?)

How Common is Securities Fraud?

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Ethical Dilemma, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to a new study, ten percent of public companies commit securities fraud each year. Questions: Source: Livni, E. (2023) Just How Common Is Corporate Fraud? The New York Times, Jan. 14 (Retrievable online at https://www.nytimes.com/2023/01/14/business/dealbook/how-common-is-corporate-fraud.html?)

Coinbase Reaches a Settlement with New York Regulators

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, IFRS, Income Taxes, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, Coinbase, a publicly traded cryptocurrency trading exchange based in the United States, has reached a settlement with financial regulators in New York. Questions: Source: Goldstein, M. and E. Flitter. (2023). Coinbase Reaches $100 Million Settlement With New York Regulators. The New York Times, Jan. 4 (Retrievable online at https://www.nytimes.com/2023/01/04/business/coinbase-settlement-anti-money-laundering.html)

Nikola Fraud Update

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Ethical Dilemma, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

Trevor Milton convicted of securities fraud after 6-year successful stock market run. His company and concept car was all a lie! Questions: Why do, as the article says, “corporate executives tend to portray activist short sellers as vigilantes?”  Related to the first question, what has Nathan Anderson’s firm done in the past several years? Why… Read more »

Nightmare Logistics: Stay Away from this Gold Standard Moving and Storage!

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Behavioral and Social Issues Related to Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Uncategorized, Video Updates.

How would you like your belongings moved across the U.S. only to find that they were auctioned off before you got them back? That’s what some moving customers are finding with a company calling itself Gold Standard Moving and Storage. Questions: According to the video and article what is Gold Standard and their status? Who… Read more »

A $5 Million Fraud Against Hundreds in California Results from Postal Theft and Fraud

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Uncategorized, Video Updates.

According to the California Attorney General, 56 individuals involved in a scheme resulting in the theft of nearly $5 million from hundreds of people in a widespread mail theft and postal fraud operation. Questions: How many suspects were arrested as part of the fraud? Out of which counties were the suspects operating? What will the… Read more »