Ponzi schemes - Study guides, Class notes & Summaries

WCC Final Exam QUESTIONS AND A+ RATED ANSWERS 2023/2024 Economic & Technological Systems - Similarities - correct answer -Both cross international boundaries -More interdependent than independent -Workers possess specialized knowledge -WCC occur in both systems Facebok - Zuckerberg - WCC charges: - correct answer -Copyright infringement -Securities fraud -Misuse of computer information Crimes in the Economic System - correct answer • Includes banks, investment compani...

debtor-creditor relationship A debtor is someone who owes a financial obligation (a "debt") to another, known as the creditor. Interest must be charged. affinity fraud - Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. - The fraudsters who promote affinity scams frequently are - or pretend to be - members of the group. - Many affinity scams involve Ponzi or Pyramid s...

debtor-creditor relationship - Answer- A debtor is someone who owes a financial obligation (a "debt") to another, known as the creditor. Interest must be charged. affinity fraud - Answer- - Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. - The fraudsters who promote affinity scams frequently are - or pretend to be - members of the group. - Many affinity scams involve Pon...

C254 WGU Practice Review 2024 In the past (early 20th century time-frame), what was the general consensus of the principal purpose of audits (including among auditors)? To detect fraud To certify for the public that management is qualified to run the entity To evaluate that companies follow GAAP Investigative and analytical purposes - ANS To detect fraud Why has there been so much frustration between the general public and auditors regarding fraud detection? The ...

debtor-creditor relationship A debtor is someone who owes a financial obligation (a "debt") to another, known as the creditor. Interest must be charged. affinity fraud - Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. - The fraudsters who promote affinity scams frequently are - or pretend to be - members of the group. - Many affinity scams involve Ponzi or Pyramid sche...

WGU C254 Topic 7 Questions and Answers Already Graded A With asset-based financial statement frauds, assets are most often: Overstated Which of the following is a way to commit asset fraud? a. Overstating fixed assets b. Under-recording payroll taxes c. Over-recording contingent liabilities d. Recording sales discounts too high Overstating fixed assets The WorldCom fraud was primarily an example of which type of fraud? Overstatement of asset fraud Which of the following is not a common way...

Examples of electronic funds transfers include all of the following, except: Check kiting Advantages of electronic payments include all the following, except: Eliminates payment fraud The elderly are often targets of telemarketing schemes for all of the following reasons, except: They are not as intelligent as younger people An illegal business practice in which new investors' money is used to make payments to earlier investors is called:. Ponzi scheme The indivi...

Identify the seven topics of international incorporated into the FATF 40 recommendations in 2012? - AML/CFT policies & procedures. Money Laundering & confiscation. Terrorist financing & financing of proliferation. Financial & non-financial institution preventative measures. Transparency & beneficial ownership of legal persons & arrangements. Powers & responsibilities of competent authorities & other institutional measures. International cooperation. According to the Egmont Group, What is th...

CFE Exam 349 Questions with Verified Answers Falsified Hours & Salary Schemes - CORRECT ANSWER The most common method of misappropriating funds from the payroll is the overpayment of wages. For hourly employees, the size of a paycheck is based on two factors: the number of hours worked and the rate of pay. Therefore, for hourly employees to fraudulently increase the size of their paycheck, they must either falsify the number of hours they have worked or change their wage rate. Common ways ...

Examples of electronic funds transfers include all of the following, except: - Check kiting Advantages of electronic payments include all the following, except: - Eliminates payment fraud The elderly are often targets of telemarketing schemes for all of the following reasons, except: - They are not as intelligent as younger people An illegal business practice in which new investors' money is used to make payments to earlier investors is called? - Ponzi scheme The individual arre...