Fraud: America's Growth Industry
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Authors
Postelnic, Jacqueline Marie
Issue Date
2010
Type
Thesis
Language
en_US
Keywords
Alternative Title
Abstract
In today's world, fraud is a continually growing problem that shows no sign of
decreasing. Every year, more and more different fraud schemes are revealed. These
schemes continue to grow not only in their complexity, but also in the amount of money
that is lost. Everyone from giant companies to mom-and-pop stores and from CEO's to a
stay-at-home moms can become victims of fraud. There are numerous and various types
of schemes in which fraud can take form, but ultimately it is all the same. It is the act of
a person, or group of people, intentionally stealing money from others. To be able to
combat fraud, people must be equipped with knowledge. It is essential that everyone
have a basic understanding of what fraud is and how it occurs.
In this research paper, fraud will be thoroughly discussed along with the most
useful method to uncover it: forensic accounting. This paper will provide a general
overview of what fraud is along with alarming statistics of who fraud affects and how it
affects them. It will go on to detail the red flags of fraud along with methods to prevent
fraud, and also shed light on how fraud is detected after the fact when it is not able to be
stopped completely. Finally, a case study of Bernard Madoff's Ponzi scheme, which is
not only extremely recent, but is also said to be the largest ever in history, will be
examined. This case study will tie all the parts of the paper together, clearly showing
why it is necessary in today' s environment for people to be aware of their surroundings to
protect themselves from fraud and its detrimental effects.
Description
116 p.
Citation
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License
U.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.