Fraud Early Warning Signs of Fraud Essay - 2710 Words

A Ponzi scheme is a type of fraud called investment fraud. It, â€Å"involves the payment of purported returns to existing investors from funds contributed by new investors† (6). Investors are usually promised a high return rate. The fraudsters attract new investors and pay back their old investors with the new investor’s money. Ponzi schemes are named after Charles Ponzi who created scheme by getting residents to invest in a postage stamp scheme. Bernie Madoff is a well known and not well liked Ponzi scheme fraudster. He is currently in federal prison. These types of fraud schemes hurt hundreds or millions of individuals and families. A Ponzi scheme occurs when someone is tricked into giving them money to invest into something and is†¦show more content†¦Preventing yourself from being caught up in a Ponzi scam is crucial. If you end up being scammed by a Ponzi fraudster than knowing the warning signs will be good to know to get out of the scam quickly. The bes t way of avoiding a Ponzi scam is to not invest into one. Always make sure the investor is licensed and registered, be aware of what the risks are to your investment, and do you understand the investment. If you don’t understand what you’re investing in then it is better that you stay away from it. Always question your investor and do your research on the investor and investment. A lot of Ponzi fraudster work alone so be very cautious to businesses that don’t have corporations or more than one employee. A charity scam is when someone pretends to have an organization set up to help those in need. They hurt the real charity organizations and the people that donate to them. People mistrust a lot of organizations now. You may see a charity scam in the form of a, â€Å"letter, email, telephone call or face to face† (13). A lot of the charity scams appear after a global disaster. Charity scam fraudsters will ask for donations and if they receive cash pocket it but if they get credit card or check donations they now have the victim’s financial information. A charity scam has very few warning signs. There are websites that tell about the organization and where their money goes. If the organization you were told about is not on this list be very cautious.Show MoreRelated Fraud: Early Warning Signs of Fraud Essay2462 Words   |  10 PagesThe early warning signs of fraud are, usually, always ignored. There are warning signs for every type of fraud out there. To understand the warning signs of fraud, we must first know what fraud is. Fraud is the intent to trick someone or lie to someone in order to receive financial gain. This definition varies depending of the type of fraud used, but the person committing the fraud is always looking for financial gain. There are many types of fraud out there. You have Medicare fraud, internet fraudRead MoreA Brief Note On Fraud And Small Businesses1565 Words   |  7 PagesVictims - Fraud in Small B usinesses, 2016). Both large and small companies require a certain amount of protection from fraudulent acts. To be naive in thinking that fraud would never occur within a company would be reckless. There are three key objectives when operating a business, whether large or small. These objectives include prevention, detection, and response, and should be implemented into every companies operations. When exploring preventative techniques, there a seven recommendations madeRead MoreRogue Trader Character Analysis1008 Words   |  5 PagesJennifer L Cranford Professor Ken Dalton ACC 409 10 October 2017 Black Yellow: Profits and Warning Signs Introduction Based on the true story of Nick Leeson, Rogue Trader is a movie about a man that went from London to Jakarta to Singapore, to become the head of the â€Å"derivatives† trading in the up-and-coming Singapore stock market. Leeson had proven to be an effective and efficient worker when he was tasked to get bear bonds sorted on his first solo tasking with Barings Bank in Jakarta. That successfulRead MoreFifa Is An Absolute Disgrace And One Of The World Cup Essay1078 Words   |  5 Pagesor practice of managing ineptly, incompetently, or dishonestly. Like for example, the value of the firm s stock fell quickly when word leaked out that officers of the company were under investigation. Also they are breach of false accounting where fraud happens when company assets are overstated or liabilities are understated in order to make a business appear financially stronger than it really is. It involves an employee or an organization altering, destroying or defacing any account; or presentingRead MoreCredit Cards And Bank Accounts1430 Words   |  6 PagesMost importantly a company should protect their assets, specifically their credit cards and bank accounts. Credit cards and bank accounts are a common source of fraud and should be recognized as the most important advice to adhere to (Beesley, 2013, para. 5).Professionals recommend â€Å"separating your personal banking and credit cards from your business accounts – this will ensure fraudsters don’t get their hands on all your money. This will also make it easier to track your business expenses and reportRead MoreA Business Fraud And Cybercrime1511 Words   |  7 Pagesfraudulent acts. To be naive in thinking that fraud would never occur within a company would be reckless. There are three key objectives when operating a business, whether large or small. These objectives include prevention, detection, an d response, and should be implemented into every company’s operations. When exploring preventative techniques, there are seven recommendations made by professionals to reduce the most often seen attacks of small business fraud and cybercrime. Most importantly a companyRead MoreAdelphi Accounting Scandal Case Study1511 Words   |  6 Pagesï » ¿Introduction Cable provider Adelphia was one of the major accounting scandals of the early 2000s that led to the creation of the Sarbanes-Oxley Act. A key provision of the Act was to create a stronger ethical climate in the auditing profession, a consequence of the apparent role that auditors played in some of the scandals. SOX mandated that auditors cannot audit the same companies for which they provide consulting services, as this link was perceived to result in audit teams being pressured toRead MoreThe Fraud By Dan Jackson1356 Words   |  6 PagesThe Fraud Dan Jacksonï€ ª, vice president of NyTell USA’s IT department, managed to defraud the telecommunications company of $1.5 million, with the help of his friend, Jake Marshall (Bloch, 2015a). Dan’s youth was gloomy and austere, dominated by his oppressive father. Twenty years after his death, Dan’s life had completely turned around. He was married with children, lived in an expensive house, wore a Rolex and designer suits, and frequently took expensive vacations. He also had a mistress (BlochRead MoreFinancial Crisis Of 2008 Struck The World1398 Words   |  6 Pagesaround the world. When the stock market collapsed, people all across America took a hit, with 2.4 trillion dollars of the Americans people’s savings vanishing in just a few weeks. This financial crisis also brought to light an unprecedented amount of fraud, over exposing people who were cutting corners. One of the most famous scams that surfaced in late 2008 was operated and executed by Bernar d Madoff, in which he perpetrated the largest Ponzi scam in American history. A Ponzi scheme is a simple swindleRead MoreBernie Madoff2651 Words   |  11 PagesBernie Madoff Research Project Abronia S. Young D03202587 On March 12, 2009, Madoff pleaded guilty to 11 federal offenses, including securities fraud, wire fraud , mail fraud , money laundering, making false statements, perjury, theft from an employee benefit plan, and making false filings with the SEC. The Fraud In March 2009, Madoff admitted that since the mid-1990s he stopped trading and his returns had been fabricated. Madoffs sales pitch, an investment strategy consisted

Essay about The American Civil War - 1148 Words

The American Civil War was from 1861 to 1865 it was a civil war between the United States of America and the Southern slave states of the newly-formed Confederate States of America under Jefferson Davis. The Union included all of the free states and the five slaveholding border states and was led by Abraham Lincoln and the Republican Party. Republicans opposed the expansion of slavery into territories owned by the United States, and their victory in the presidential election of 1860 resulted in seven Southern states declaring their secession from the Union even before Lincoln took office. The Union rejected secession, regarding it as rebellion. Hostilities began on April 12, 1861, when Confederate forces attacked a U.S. military†¦show more content†¦Confederate resistance collapsed after Lee surrendered to Grant at Appomattox Court House in April 1865. The war, the deadliest in American history, caused 620,000 soldier deaths and an undetermined number of civilian casualties, ended slavery in the United States, restored the Union by settling the issues of nullification and secession and strengthened the role of the Federal government. However, issues affected by the wars unresolved social, political, economic and racial tensions continue to shape contemporary American thought. The Civil War Memorial, in Sycamore, Illinois, it is located in front of the DeKalb County Courthouse on a public square, it was shown in 1896 and dedicated in 1897. The monument is constructed from a combination of marble, masonry and the metal used for the sculpted copper and masonry soldiers. The structure also incorporated wood into its design. The front facade is adorned with a marble plate engraved with an excerpt from U.S. President Abraham Lincolns Gettysburg Address, also marble faced, are emblazoned with the names of major battles and campaigns of the war. World War II On June 6, 1944 , the western Allies launched the single largest invasion. On June 22, 1944, Soviet forces opened a major offensive defending the center of the eastern front in western Belorussia. On May 8, 1945, Nazi Germanys unconditional surrender became official, and the world could celebrate the liberation of Europe from Nazi rule. In 2004,Show MoreRelatedAmerican War And The American Civil War1551 Words   |  7 Pageswhich then caused the Southern states of America to decide to leave the American Union and create their own Southern Confederacy. This tore our nation apart. The American Civil War had begun and the very people that were once neighbors had each other’s blood on their hands. Many American lives had been lost. The American lives lost in the Civil War even exceeded the number of American lives lost during World War I and World War II. We were divided. The North wanted to reunite with the southern statesRead MoreThe War Of The American Civil War1376 Words   |  6 PagesThe American Civil War was arguably the most important war in the history of the country. The War of Independence may have allowed American to become its’ own country, but the Civil War resulted in something even more important than that, the end of slavery in the southern states. All of the issues that caused the Civi l war were based around slavery, such as states’ rights that involved how slavery would be handled in each state, and trying to preserve the Union since the south seceded from the northRead MoreThe American Civil War1296 Words   |  6 Pages The American Civil War, also known as the State’s War, was a conflict that arose mostly from the issue of slavery, but deep down was due to economic differences between the North and the South. The South seceded from the North and created their own self-government due to their belief in the lack of state’s rights versus the federal government and what they saw as a weakness in the Articles of Confederation. While the Confederacy of the United States depended on slave labor for their economy in regardsRead MoreThe War Of The American Civil War1618 Words   |  7 Pages A Civil War is a battle between the same citizens in a country. The American Civil War was fought from 1861 to 1865 to determine the independence for the C onfederacy or the survival of the Union. By the time Abraham Lincoln was elected president in 1861, in the mist of 34 states, the constant disagreement caused seven Southern slave states to their independence from the United States and formed the Confederate States of America. The Confederacy, generally known as the South, grew to include elevenRead MoreThe American Civil War1418 Words   |  6 PagesGuns fired, smoke lingering in the air, people dying. The American Civil War had a huge impact on the United States. Two compromises took place before the start of the Civil War. These compromises include the Missouri Compromise and the Compromise of 1850. The Missouri Compromise dealt with the crisis in 1819 over Missouri entering the Union as a slave state. The compromise was â€Å"the first major crisis over slavery, and it shattered a tacit agreement between the two regions that had been in placeRead MoreThe War Of The American Civil War1324 Words   |  6 PagesThere were many e vents that led to the cause of one of America’s most devastating war, the American Civil War. The American Civil War was an unfortunate war that cost more than the lives of six hundred thousand people. Events such as the Missouri Compromise, Kansas Nebraska Act, Dred Scott Decision, and the Election of Abraham Lincoln resulted in the four yearlong battles between the Northern and Southern states due to social and economic differences on the idea of slavery. In the 19th century,Read MoreThe War Of The American Civil War Essay1472 Words   |  6 PagesThe American Civil War lasted from April 12, 1861 to May 9, 1865. It was the bloodiest war in American history, killing approximately 620,000 soldiers in total. The War was fought and won by the North, ensuring that all the United States would stay united and slavery would be illegal in The United States. However, history is one of the most complicated things in the world. It’s also one of the most important things in the world because history is what made the present possible. Historians have debatedRead MoreThe War Of The American Civil War960 Words   |  4 Pagesslavery even if it meant war caused peace in this nation. Slavery was the vital cause of the American Civil War. The north and the south both had their differences on how to run the country. People in the North believed in unity and that slavery should not exist because â€Å"all men are created equally.† On the o ther hand, the South believed in continuing slavery. People tried to talk it out and come to a middle ground after both sides compromising, however that didn’t work and caused war. Ideological differencesRead MoreThe War Of The American Civil War856 Words   |  4 PagesSlavery may have been established as the catalyst of the American Civil War, but the beginning of the dispute began in the time of the Revolution with a weak decentralized government under the Articles of Confederation. Later gained momentum as territorial expansion set Americans against each other on debating whether the new states should be slave states or free states, it questioned the power of the Federal government regarding state rights, and brought about instability in the unity of the UnitedRead MoreThe War Of The American Civil War1439 Words   |  6 PagesWhen the American Civil War began in the spring of 1861, those flocking to enlistment stations in states both north and south chiefly defined the ir cause as one of preservation. From Maine to Minnesota, young men joined up to preserve the Union. From Virginia to Texas, their future foes on the battlefield enlisted to preserve a social order, a social order at its core built on the institution of slavery and racial superiority . Secession had not been framed by prominent Southerners like Robert Toombs

How Useful Is It as Evidence for an Historian Studying Free Essays

To an historian studying the outbreak of the Kappa Putsch this Is a useful factor to take Into consideration; this source shows us the troubles of Germany, about the factors, which lead people to have an uprising. It is understandable when reading an extract that they had to act out, as they were feeling betrayed and angry at Germany. We can see that they the nation was feeling this way, as in the extract it is quoted that, â€Å"The Reich and the nation are in grave danger. We will write a custom essay sample on How Useful Is It as Evidence for an Historian Studying or any similar topic only for you Order Now † Moreover, â€Å"people are only dimly aware of the approaching disaster. Prices are rolling unchecked. Hardship Is growing. Starvation threatens. † I know that Because of the demonstrable of the armed forces, there were nearly 200 paramilitary units around Germany by 1919. In 1920, about 12,000 members of the Fireworks marched on Berlin and seized the main buildings of the capital virtually unopposed, where they installed a new government. The German army did not provide any resistance to this Putsch. In spite of requests from Bert to put down the rebellious forces, the army was not prepared to become involved with either side. We can see that the people lost faith In the government as With terrible speed, we are approaching the complete collapse of the state and of law and order. â€Å"And† The present government is incapable of overcoming the danger. â€Å"This was the pushing mint which made the people get involved, they now know without their input Germany as they know it will only get worse. However, in this new government, strikes were banned but the people carried on as their beliefs and motives suppressed the at hand and the opportunity must be grasped. There is no other way but a government of action, the new government will ruthlessly suppress strikes and sabotage. † Moreover † striking is treason to the nation and the Fatherland. † back up these points I have made. It is useful to know that even though the prices were raising that â€Å"Everyone should go peacefully about his work. Everyone willing to work is assured of our firm protection â€Å"people stood up for what they believed in and strike regardless of this point. Overall, I believe this is a very useful source for a historian studying the outbreak of the Kappa Putsch of 1920, due to the use of literacy devices used it shows the way in which the German politicians presented their ideas and how they shared their opinions on this topic. (b) Using all the sources, and your own knowledge, assess to what extent the Kappa Putsch and other political uprisings represented the greatest threat to the Whimper Republic in the period 1919-1923. 5] Taking all of the sources into consideration, it is useful as we get a left wing response, a right wing response and an impartial response with the benefit of hindsight, therefore we can get a moderate opinion of the situation. From my own knowledge in the early years of the Whimper Republic, there were many political threats from left and right towards the new Government. The Separatists had extreme left wing political views (Communist) this group split from the SSP in frustration and anger at the Spud’s role within the Government. The leaders of this Communist Party were Karl Libertines and Rosa Luxemburg. On January 1st 1919, the members of the Separatists movement rose up in an attempted revolution. The group’s leaders initially made this move. The new Government acted promptly and were certainly not stymied with their actions to bring this revolution to an end, As the two main leaders were killed whilst in police custody, The fret-corps (a paramilitary group consisting of former Servicemen) broke down this â€Å"revolution† with force. This issue is acknowledged in source c – â€Å"The Whimper Republic faced its first threat, the communist-inspired Separatists rising. Another well known historian to back my points up is Broacher who states; – â€Å"Contends that the occasion fear of revolution from the left by the early Whimper government, led to their overlooking the much more likely threat posed by the right. We can SE that the Kappa putsch was the first attempt from the right wing extremists, to take control of the constitutional government. (They did this because they favored the restoration of some somewhat authoritarian, dictatorial regime). The Kappa Putsch was led by Wolfgang Kappa The right wing extremists wanted the army to regain its numbers of men in a dictatorial regime. This was not possible because in the signed treaty of Versailles there was an agreement that the army must be cut and no more people could Join the army. The events occurred as followed 1920 about 12,000 members of the Fret-corps (in support of the Kappa putsch) marched to Berlin this is where they seized the main buildings of the capital with ease and no force was set up against them in these buildings was where they installed a new government. The German army did not it he told the German army to put down the rebellious forces, the army was not prepared to become involved with either side. This is also due to the support it had from the army as many significant officers chose to support it the army-followed suit (General Ludwig and General Oldenburg. Ludwig had major involvement and he orchestrated an uprising in Berlin on March 13th. Army troops were sympathetic to the uprising, they took control of Berlin, and Ludwig proclaimed right wing government. The putsch soon ended because SSP members of the government had called for a general strike, which soon paralyses the capital and quickly spread to the rest of the country. (The morale within Germany is strong here as they stuck together o end what was wrong â€Å"Kappa Putsch†) The rebels had little support in Berlin and in Germany elsewhere. It soon became clear that the Army couldn’t of been taken for granted, there was no universal support for the Whimper government also the government had limited means of dealings with uprisings of this nature and politicians were not necessarily safe in Berlin this shows a near end to the Kappa Putsch. After four days of this political uprising and after putting Berlin on a stand still, with no/little support it was clear that Wolfgang Kappa and his government gained no real authority and they fled the city. There is evidence of this in sources b and c : â€Å"A military putsch has started. The mercenaries, who were afraid that their Fireworks regiments would be disbanded, have attempted to overthrow the Republic and establish a dictatorial government with Kappa and General von L;twits at its head. † And in 1920, came a second attempt to overthrow the Republic, this time by the right wing Kappa Putsch. It is stated in source C that A brief period of relative calm followed, only to be disrupted in 1923 by hyperinflation that threatened economic chaos and undermined the government’s reputation. The Communists were overcautious during the mass protests of 1923 and acted too late in the â€Å"German October† of 1923†³ this is a big threat to Germany both polit ically and economically as well as destroying even more of the remaining morale. The hyperinflation crisis increased support for the more extremist parties such as the Nazis would use the hyperinflation crisis to portray their beliefs on how a country should be run. This was very threatening towards the Whimper republic/government propaganda against the government damaged it and lost supporters. The next political uprising to occur was the Munich putsch, which took place from 8-9 November 1923. As the economy floundered and the government struggled to cope with the turmoil, a group of Right Wing politicians in Bavaria planned to take this opportunity to overthrow the government. This event is iconic as it was the first event that Hitler is introduced. However, The Nazis were far too weak on their own to stage any kind of political takeover. It was the need for allies, which led Hitler into negotiations with the right wing Government leaders Kara, Kisser and Lows who had planned this uprising to commence. The Munich Putsch took place from 8-9 November 1923. Reasons behind their rebellious behavior were the developing crisis in Germany in 1923. Due to the Franco-Belgian occupation of the Rue as they took payment in kind, passive resistance, hyperinflation and â€Å"The German October,† Kara and Lows blamed most the republican regime with a â€Å"March on Berlin† from Munich. They lacked faith in this political stunt/ uprising and therefore, they decided to abandon the plan but Hitler wanted to proceed with the Nazis they took control of a large rally, which Kara was addressing in one of Eunuch’s beer halls and declared a â€Å"national revolution. Under pressure from the Nazis and Hitler Kara and Lows appeared to co-operate, but General Sect, the chief of the Army Command who was suspicious of Hitler, used his powers to command the armed forces to resist the putsch. The police were notified and the police and a gun battle followed informed the army about this uprising on the day of the putsch the Nazis marched on but were met. In this putsch inn this putsch 16 Nazi supporters were killed and the uprising was easily suppressed. Most of the Nazi leadership were arrested and then put on trial for reason; leading sympathizers including General Ultrasound was also arrested. The consequences of the Munich putsch were probably of the more significance than the uprising it’s self. At Hitter’s trial, he was given special treatment as was allowed to make long speeches to explain his reasons. Hitler is well known for many terrible things but I believe the most dangerous is his talking skill; Hitler has an orator characteristic therefore, he can easily convince people. This skill transformed him from a little known politician into a champion of the right wing. This is mentioned in source c. Finally, in November 1923, came another right-wing assault, the Munich Putsch led by Doll Hitler. The Whimper Republic survived because the extremist forces of both Left and Right failed to attract much support and were both divided and disorganized. † Using all the sources, and my own knowledge, I have assessed to what extent the Kappa Putsch and other political uprisings represented the greatest threat to the Whimper Republic in the period 1919-1923, it is clear to see that this was not the best time for the Whimper Republic as they faced a lot of opposition from the angered and betrayed Germans How to cite How Useful Is It as Evidence for an Historian Studying, Papers