FORENSIC ACCOUNTING BA124 Spring 2008Slide 121 - PowerPoint PPT Presentation

1 / 13
About This Presentation
Title:

FORENSIC ACCOUNTING BA124 Spring 2008Slide 121

Description:

Are the #s telling the story or making the story? Is the company managing the business or ... False filing of bankruptcy. False filing of police information ... – PowerPoint PPT presentation

Number of Views:26
Avg rating:3.0/5.0
Slides: 14
Provided by: williamfob
Category:

less

Transcript and Presenter's Notes

Title: FORENSIC ACCOUNTING BA124 Spring 2008Slide 121


1
Todays Topics
  • Shenanigan 3
  • Consumer Fraud

2
Shenanigan 3-Boosting (Operating) Income
  • Technique 1
  • Selling of undervalued assets
  • Technique 2
  • Including investment gains in ops. income
  • Technique 3
  • Reducing opex by investment gains
  • Technique 4
  • Reclassifying balance sheet accounts

3
Transparency is Key
  • Are the s telling the story or making the story?
  • Is the company managing the business or managing
    the s?
  • What is, is? versus What is. Is!
  • Recall SFAC 1
  • Improved decision making
  • Insight into future cash flows
  • Resource information

4
Shenanigan 3 Specifics
  • Table 6-1
  • Lets consider each item
  • Table 6-2
  • Weaselotomy 101
  • Dont over-react to pension issues
  • Technique 4
  • Mark-to-market games

5
Todays Topics
  • Consumer Fraud

6
Consumer Fraud
  • Fraud against individuals
  • Number one consumer fraud Identity Theft

7
Identity Theft
  • Involves over 42 of reported frauds
  • Use of name, address, SSN, band or credit card
    PINs to commit fraud
  • Prevention is the key

8
Identity Theft Conversion
  • Purchase of large-ticket items
  • False car or real estate loans
  • Creation of phone or cell accounts
  • Counterfeit checks or debit cards
  • Creation of new bank accounts
  • False filing of bankruptcy
  • False filing of police information
  • Creation of new credit card accounts
  • Change of mailing address

9
Identity Theft Cycle
  • Stage 1 Discovery
  • Gain information
  • Verify information
  • Stage 2 Action
  • Document accumulation
  • Action cover-up
  • Stage 3 Trial
  • 1st 3rd dimensions (gas station, store, new
    account)

10
How to Steal Someones Identity
  • Obtaining info falsely
  • Going through the trash
  • Skimming credit cards
  • Hacking
  • Stealing wallets
  • Outright theft from the home
  • Stealing mail
  • False change of address form
  • Shoulder surfing
  • Phishing or Pharming

11
How to Protect Yourself
  • Guard your mail
  • Do not use pre-approved credit cards
  • Guard SSN and PINs
  • Guard all personal information
  • Guard your trash
  • Protect your wallet
  • Protect and change your passwords
  • Protect your home
  • Protect your personal computers
  • Use the Gramm-Leach-Bliley Act to opt out of
    having your information sold

12
Post Event Activity
  • Report event promptly
  • Collect evidential matter
  • Contact FTC regarding identity theft
  • Homeland security implications

13
Other Forms of Consumer Fraud
  • Foreign Advance-Fee Scams
  • Work at Home Schemes (MLMs)
  • Bogus Mystery Shopping Scams
  • Telemarketing Scams
  • Investment Scams (Ponzi Scams)
Write a Comment
User Comments (0)
About PowerShow.com