11 Stunning Visualizations of Gold Show Its Value and Rarity

24 Jan

Since Ancient times, gold has served a very unique function in society.
Gold is extremely rare, impossible to create out of “thin air”, easily identifiable, malleable, and it does not tarnish. By nature of these
properties, gold has been highly valued throughout history for every tiny ounce of weight. That’s why it’s been used by people for
centuries as a monetary metal, a symbol of wealth, and a store of value.

Visualizing Gold’s Value and Rarity

With all that value coming from such a small package, sometimes it is hard to put gold’s immense worth into context.

The following 11 images help to capture this about gold, putting things into better perspective.

1. The U.S. median income, as a gold cube, easily fits in the palm of your hand.

U.S. Median Income as a Gold Cube

2. A gold cube worth $1 million, has sides that are 2/3 the length of a typical banknote.

One Million Dollars as a Gold Cube

3. All gold used for electrical connections in the Columbia Space Shuttle would be worth $1.6 million today.

All the Gold in the Columbia Space Shuttle in a Cube

4. Trump’s entire fortune of $3.7 billion as a gold cube would be shorter than Trump himself.

Donald Trump's fortune in a Gold Cube

5. As a gold cube, the entire value of the Bitcoin market would fit in a hallway.

The Bitcoin Market's Value as a Gold Cube

6. The fortune of the richest man on Earth, Bill Gates, would take up a single traffic lane.

Bill Gates' Wealth as a Gold Cube

7. The world’s entire annual production of gold is just a 5.5m sided (18 ft) cube.

Annual Gold Production a Gold Cube

8. Take the 147.3 million oz of gold out of Fort Knox, and it’s only slightly bigger.

All the Gold in Fort Knox Visualized as a Cube

9. All gold held by the Central Banks pales in comparison to the Brandenburg Gate.

The World's Central Banks Holdings as a Gold Cube

10. All gold mined in human history is dwarfed by the Statue of Liberty.

All Gold Mined in Human History Visualized as a Cube

11. To pay off $63 trillion of global sovereign debt, you’d need a gold cube the size of a building.

All Global Debt Visualized as a Gold Cube

Liked our visualizations of gold cubes? Check out this motion graphic video that shows how much money has been created by humans.

The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money.

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Life Choices and IQ Scores; Social Behaviors and IQ Scores

21 Jan

 

The results below have been averaged out and determined with a minimum sample size.

Smoking and IQ Scores.

Smoking and IQ ScoresPeople who don’t smoke scored the highest IQ scores from the sample population.

Drinking and IQ Scores.

Drinking and IQ ScoresPeople who drink scored the highest IQ scores from the sample population.

Marriage and IQ Scores.

Marriage and IQ ScoresPeople who are married without children scored the highest IQ scores from the sample population.

Education and IQ Scores.

Education and IQ ScoresPeople with a masters degree scored the highest IQ scores from the sample population.

Occupation and IQ Scores.

Occupation and IQ ScoresPeople who are in a technical job scored the highest IQ scores from the sample population.

Pets and IQ Scores.

Pets and IQ ScoresPeople who did not own a pet scored the highest IQ scores from the sample population.

Six life choices have been shown and the average IQ scores from each. From the data there is not a lot surprises, as a general rule the smarter the individual the higher the likelihood they will enjoy academia activities and strive for a higher education and hence a higher job status in the professional fields of work. Success at work also makes them more desirable for marriage, which also explains why so many high IQ individuals are married.

The less obvious traits such as smoking, drinking and even owning a pet is more curious. One could say there are two potential reasons why high IQ scoring individuals don’t smoke, for one, they are aware of the undesirable health effects of smoking or they enjoy a higher status in life and not so stress to make ends meet. Surprising results for alcohol, may be one of those life luxuries that high IQ individuals also like to enjoy, such as having a nice wine after work or the occasional get together in a nice restaurant, it may also be tired back with potential income and how often you could afford to have a drink. Pet ownership results may also be linked with the marriage results, maybe the individual is lonely and desires that companionship or maybe the professional individual is at call at certain hours and cannot have the time to look after a pet.

http://www.iqcatch.com/frontend/statistic/details/Life-Choices-and-IQ-Scores

 

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IQ STATISTICS

Average-IQ-By-Country


Dr. Richard Lynn a Professor Emeritus of Psychology at the University of Ulster, Northern Ireland, and Dr. Tatu Vanhanen a Professor Emeritus of Political Science at the Univers…
29 May 2017,13:56

Read More …

The relationship between a parents job and smart kids


A world wide OECD (Organisation for Economic Co-operation and Development) report has been conducted among other things to determine the relationship between working parents and…
03 Mar 2014,04:30

Read More …

Life Choices and IQ Scores


In life we make many important decisions, but have you ever wondered if these important choices also reflect your IQ Score? does the choice of having a smoke effect your IQ Scor…
24 Oct 2013,02:50

Read More …

Physical Attributes and IQ Scores


Do certain physical attributes such as eye color, hair color or height play a roll in your IQ score? well to find out we completed an analysis of all IQ scores taken at the IQ C…
23 Oct 2013,23:03

Read More …

Social Behaviors and IQ Scores


A study “The General Intelligence” was carried out by Linda S. Gottfredson for Scientific America (1998 9(4), Pages 24-29), it summarised IQ scores to specific groups of people …
19 Mar 2012,22:26

Read More … :

A study “The General Intelligence” was carried out by Linda S. Gottfredson for Scientific America (1998 9(4), Pages 24-29), it summarised IQ scores to specific groups of people to better understand the relationship between each. The research work was carried out over a number of decades to better understand if your intelligence (IQ) contributes to a better quality of life. A summary of the key findings of the research is presented in the table below:

IQ Range
IQ < 75
75 – 90
90 – 110
110 – 125
IQ > 125
% of total population
5%
20%
50%
20%
5%
% of group out of labor force more than one month out of the year
22%
19%
15%
14%
10%
% of group unemployed more than one month out of the year (men):
12%
10%
7%
7%
2%
% of group divorced within five years:
21%
22%
23%
15%
9%
% of group that had illegitimate children (women):
32%
17%
8%
4%
2%
% of group that lives in poverty:
30%
16%
6%
3%
2%
% of group ever incarcerated (men):
7%
7%
3%
1%
0%
% of group that are chronic welfare recipients (mothers):
31%
17%
8%
2%
0%
% of group that drop out of high school:
55%
35%
6%
0.4%
0%

The comprehensive research has shown a remarkable correlation between a persons IQ to that how they fair in society. It can be fair to say that a higher IQ individual on average will benefit from higher education, higher job opportunities and experience a better family life. The research also made note that individuals with a low IQ score gravitates towards low paid menial jobs such as assembly workers, nursing aids, food servers, etc as opposed to individuals with high IQ’s that tendered towards high paying more fulfilling work such as chemists, executives, lawyers, etc.

Infographics Summary

Social Behaviors and IQ Scores

Should, would, could, will you work for a tax heaven to get a bigger income? Lower income?

18 Jan



page: 2


page: 3


page: 4

Why do financial fraud victims rarely recover losses? How can we track and find our stolen investments and taxes? I have searched for a worldwide report about Recovery of Major Financial Frauds Losses during the last 10000 years but could not find one. Let’s write it ourselves! FBI.gov does not present such a report! Why? Let’s volunteer for FBI, NSA, … !

18 Jan

!!! I do not know personally any of the investigators shown below. Practice caution in all your interactions!!!

 

==

I have searched for a worldwide report about Recovery of Major Financial Crime Losses during the last 10000 years but could not find one. Let's write it ourselves!

Exemple

Year Organization – Country Losses – $ bil. Recovered – $ bil. % Recovered Notes
2001 Enron 80 ? ?  ?

 

FBI.gov does not present such a report! Why? Let's volunteer for FBI, NSA, ... !

F.B.I. Struggles to Handle Financial Fraud Cases – The New York Times

Oct 18, 2008 – According to previously undisclosed internal F.B.I. data, the cutbacks have been particularly severe in staffing for investigations into white-collar crimes like mortgage fraud, with a lossof 625 agents, or 36 percent of its 2001 levels. Over all, the number of criminal cases that the F.B.I. has brought to federal …

https://www.fbi.gov/@@search?SearchableText=Major+Financial+fraud+loss+recovery+Statistics&pageSize=20&page=1

Page 1 of 15087 results

 

 

https://www.fbi.gov/@@search?SearchableText=Major+Financial+Crime+loss+recovery+Statistics&pageSize=20&page=1

Page 1 of 20019 results

 

https://www.fbi.gov/@@search?SearchableText=Financial+Crimes+loss+recovery+Report&pageSize=20&page=1

https://www.fbi.gov/@@search?SearchableText=Major+Financial+Crime+Statistics&pageSize=20&page=1

https://www.fbi.gov/@@search?SearchableText=Financial+Crimes+recover+Report

 

BANK ROBBERY STATUE VIOLATIONS BY REGIONS, GEOGRAPHIC DIVISION,
STATES, AND TERRITORIES
January 1, 2016 – December 31, 2016
BANK
BANK
ROBBERIES
REGIONAL SUMMARY
NORTHEAST
NORTH CENTRAL
SOUTH
WEST
TERRITORIES
TOTALS: 4,185

 

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The next-generation of fraud prevention: Fraud.net – The Silicon Review

thesiliconreview.com/magazines/the-next-generation-of-fraud-prevention-fraud-net/

“You never change things by fighting the existing reality.To change something, build a new model that makes the existing model obsolete.” – R. Buckminster Fuller.

432K+ FRAUDSTERS TRACKED – Fraud Prevention for Ecommerce, Travel and Financial Enterprises

 

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Image result for world financial loss* fraud by year with percentage recovered

 

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Image result for world financial loss* fraud by year with percentage recovered

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True?:

https://rwer.wordpress.com/2013/11/21/as-the-door-turns-2/#more-14249

revolving-door

We can now add former Treasury Secretary Tim Geithner to the long list of those who have walked through the revolving door between Wall Street and the White House, which makes Noam Scheiber just a bit worried.

Let’s be clear what’s going on here: Geithner’s choice of post-government career isn’t shameful—there are plenty of upstanding, well-intentioned people who work in finance. And it’s obviously perfectly legal. What it is, to be blunt, is corrosive. There are any number of organizations that could benefit from Geithner’s managerial talents and A-list Rolodex. If you didn’t know how the world worked, you’d have no reason to assume that a large, profitable financial firm had a special claim on these assets.

But, of course, we all do know how the world works. It’s hard to come up with a senior economic official who didn’t cash out in the financial sector shortly after leaving government. Every time another one does, it every-so-slightly reinforces our conviction that the game really is rigged. Geithner, with his unusually prominent role and his pretensions to lifelong service, has reinforced that conviction a bit more than most.

To which the best response is in the comments:

Oh, grow up.  Of course the game is rigged.  You just figuring that out now?

 

The Dynamite Prize For Economics Will Go To The 3 Guys Who Blew Up The World – Business Insider

 

This sounds pretty overdue.

The Real-World Economics Review Blog is taking votes for  The Dynamite Prize in Economics. The prize will be be awarded to the three economists who contributed most to enabling the Global Financial Collapse (GFC), or more figuratively, to the three economists who contributed most to blowing up the global economy.

Click here to vote.

Here’s the list of nominees and explanations for why they were nominated. (via Barry Ritholz)

Short List of Nominees for the Dynamite Prize in Economics

Fischer Black
and Myron Scholes
They jointly developed the Black-Scholes model which led to the explosive growth of financial derivatives.  The importance given to their hypothetical calculation of derivative prices was baneful not just because it was bogus, but also because it meant that relevant and often urgent real-world economic research was widely neglected by the profession.

His “efficient market theory” provided the moral umbrella for all sorts of greed, predatory behaviour and incompetent corporate management.  It also provided the rationale for deregulation.  And his theory’s widespread acceptance meant that “discussion of investor irrationality, of bubbles, of destructive speculation had virtually disappeared from academic discourse.”  In these three ways Fama’s work created the environment which made possible the GFC.

Milton Friedman
He propagated the delusion, through his misunderstanding of the scientific method, that an economy can be accurately modeled using counterfactual propositions about its nature.  This, together with his simplistic model of money, encouraged the development of the financial theories with unrealistic assumptions that facilitated the GFC.  In short, he opened the door for everyone subsequently to theorize without fear of having to be attached to reality.

Alan Greenspan
As Chairman of the Federal Reserve System from 1987 to 2006, he both led the over expansion of money and credit that created the bubble that burst and aggressively promoted the view that financial markets are naturally efficient and in no need of regulation.  Before a Congressional committee on 28 October 2008 Greenspan confessed that his theoretical beliefs of 40 years were now proven to be without foundation, hence his total confusion and failure at his job.

Assar Lindbeck
By working to make the Riksbank Prize in Economic Sciences (“Nobel Prize in Economics”) almost exclusively a prize for neoclassical economists, this Swedish economist has contributed significantly to the conversion of the economics profession and of world public opinion to market fundamentalism.

Robert Lucas
His development of the rational expectations hypothesis, which defined rationality as the capacity to accurately predict the future, both served to maintain Friedman’s proposition that monetary factors do not affect the real economy and, in the name of “rigor”, distanced economics even further from reality than Friedman had thought possible.

Richard Portes
As Secretary-General of the Royal Economic Society from 1992-2008, he helped suppress worries expressed by non-mainstream economists about developments in the financial sector.  In 2007 he wrote a Report for the Icelandic Chamber of Commerce giving a clean bill of health to Icelandic banks only a few months before they collapsed.  When investigators called attention to the real state of Icelandic banking, he wrote a series of letters to the Financial Times defending the soundness of Icelandic banks and imputing professional incompetence to those who doubted it.

Edward Prescott and Finn Kydland
For jointly developing and popularizing “Real Business Cycle” theory, which by omitting the role of credit greatly diminished the economics profession’s understanding of dynamic macroeconomic processes.

Paul Samuelson
Through his textbook Economics: An Introductory Analysis (19 English language editions and translated into 40 languages), he popularized neoclassical economics, contributing more than any other economist to its diffusion and thereby to the deregulation of financial markets which made possible the GFC.

Larry Summers
As US Secretary of the Treasury (formerly an economist at Harvard and the World Bank), he worked successfully for the repeal of the Glass-Steagall Act, which since the Great Crash of 1929 had kept deposit banking separate from casino banking.  He also worked with Greenspan and Wall Street interests to torpedo efforts to regulate derivatives.

Comm:

How the heck did you manage to leave David X. Li, originator of the Gaussian Copula Function, from your list?

http://www.wired.com/techbiz/it/magazine/17-03/wp_quant?currentPage=all

 

The watchdog meant to protect Americans from predatory lending is about to get ‘the most anti-consumer’ boss

 

Amazon Customer Service needs Real Customer Service! How can Amazon be so valuable?

Hypothetically, let’s say that you bought $1,000 of shares in some of America’s best-known companies, right during these pre-crisis highs in October 2007.

Today’s chart from HowMuch.net shows how you would have fared based on share price alone, not including the re-investment of dividends. Each blue dot below shows the $1,000 investment, and each pink circle represents the value of that investment today.

Courtesy of: Visual Capitalist

 

Lewis Ranieri explains how his ‘Frankenstein’ helped blow up the world – Business Insider

  • Lewis Ranieri is considered the father of the mortgage-backed security.
  • His invention enabled millions of Americans to afford homes, but its distortion and manipulation also helped cause the financial crisis. 
  • He told Institutional Investor he never imagined ratings agencies and regulators would fail so badly, but also accepted part of the blame.
  • “It’s absolutely true that many of us tried to stop it. But the fact is, it didn’t stop,” Ranieri said. “We, the creators, should never forget.”

In the early 2000s, Lewis Ranieri was named one of the most influential Americans of the past century, before transforming a few short years later into one of the Americans who blew up the world.

Ranieri is the father of the mortgage-backed security, the financial innovation that enabled millions of Americans to afford homes before it was twisted and abused and became a tinder box that helped set the world economy aflame in 2008.

He invented the financial product at Salomon Brothers in the 1970s, and in a recent interview with Institutional Investor for its “War Stories” series he said he never could have predicted how everything came crashing down.

The risks, he thought, were accounted for given the scrutiny of the ratings agencies like Standard & Poor’s and Moody’s, as well as oversight by regulators like the Securities and Exchange Commission.

“We could never have imagined that the ratings services could be bought. That they would basically, just the money would be so important they would break all of their own rules and rate things they knew shouldn’t be rated triple or double or whatever. Ok, and that was unimaginable to me,” Ranieri said.

The intention — to try help those who couldn’t afford a traditional home loan — was noble, Ranieri said, but “the reality becomes ignoble in so many ways.”

“W e’ve now created Frankenstein. Frankenstein has a brain, it’s the one we gave him, but the body made up of everybody’s whatever parts they got out of the cemetery has nothing to do with necessarily what we started,” Ranieri said.

Even though he and other creators tried to stop the meltdown from occurring, Ranieri doesn’t deflect blame for the tragedy that befell millions of homeowners and countless others that suffered through the financial crisis.

“It’s absolutely true that many of us tried to stop it. But the fact is, it didn’t stop,” Ranieri said. “We, the creators, should never forget.”

Watch the full interview at Institutional Investor.

 

A People’s History of Donald Trump’s Business Busts and Countless …

Oct 18, 2016 – The Republican nominee’s destructive behavior has victimized cities, businesses, investors, partners and even members of his own family.

 

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Madoff victims set to recover three-quarters of losses

https://www.ft.com/content/94c2fb60-634f-11e3-886f-00144feabdc0

Please use the sharing tools found via the email icon at the top of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.
https://www.ft.com/content/94c2fb60-634f-11e3-886f-00144feabdc0

Five years after Madoff was arrested on fraud charges, JPMorgan is close to agreeing a settlement of about $2.5bn over its alleged role in failing to alert US authorities of its suspicions. About $1bn of the penalty will go to the US attorney’s office in Manhattan, to be paid to victims of the Madoff fraud, and more than $1bn will go to the Office of the Comptroller of the Currency to settle a wider variety of anti-money laundering violations. The bank is also expected to be hit by a “deferred prosecution agreement”, a severe and rare action against a bank that avoids criminal charges. The US attorney’s office has already amassed more than $2.3bn to pay to victims

 

https://www.ft.com/search?q=recover+loss* shows only 9 results which do not include the above! Why?

 

==

FBI finds scammers impersonating the FBI now one of worst online …

May 16, 2012 – In a weird turn of events the most common Internet crime complaints in 2011 were those involving scams that involved fraudsters pretending to be the FBI according to the yearly onlinecrime report issued through the FBI’s partner, the Internet Crime Complaint Center (IC3) and the National White Collar …

F.B.I. Struggles to Handle Financial Fraud Cases – The New York Times

Oct 18, 2008 – The pressure on the F.B.I. has recently increased with the disclosure of criminal investigations into some of the largest players in the financial collapse, including Fannie Mae and Freddie Mac. The F.B.I. is planning to double the number of agents working financial crimes by reassigning several hundred …

Encyclopedia of White-Collar & Corporate Crime

Lawrence M. Salinger – 2005 – ‎Social Science

have to pay three times that amount that they stole in addition to any fines they received on specific charges. This can represent an enormous … CONSEQUENCES OF FRAUD Most often, individuals think of the economic consequences of healthcare fraud, and these losses can be quite high. Billions of dollars are lost each …

 

USDOJ/OIG | Federal Bureau of Investigation Reports

Audit of the Federal Bureau of Investigation Annual Financial Statements Fiscal Year 2016, AuditReport 17-07 — Summary | Full Report. September 29, 2016. A Review of the FBI’s Use of Section 215 Orders for Business Records in 2012 through 2014, Oversight and Review Division Report 16-04 — Summary | Full Report …

 

SEC Pays Financial-Fraud Whistleblowers Better Than FBI | HuffPost

Feb 29, 2012 – Still, FBI investigators have managed to find enough financial crime work to keep them occupied. The bureau recently announced that its investigations of fraud, insider trading and Ponzi schemes last year resulted in 3,000 convictions and some $12 billion in restitution, according to the Associated Press.

Reporting Crime | USAGov

Nov 13, 2017 – To report financial fraud, visit StopFraud.gov. Report suspected violations of federal law to the Federal Bureau of Investigation (FBI). The FBI investigates public corruption, hate crimes, human trafficking, white-collar crime, violent crime, and more. To report known or suspected criminal activity to the FBI:.

FBI combats financial fraud with CFEs

Lamkin, the chief of the Financial Crimes Section of the FBI, is responsible for the section’s 2,300 agents and 400 support staff members – many of whom are CFEs – and more than 18,000 yearly white-collar cases. But it was during his nine years directing some 120 high school band musicians that helped develop the skills …

 

100% Recovery Possible for Victims of $220 Million Ponzi Scheme

May 5, 2015 – Hundreds of victims of a massive $220 million Utah Ponzi scheme may soon become part of an extremely rare group of Ponzi victims who were able to recover 100% of their principallosses. Gil Miller , the court-appointed receiver over Management Solutions…

Fraud Protection – Common Fraud Schemes

If you have been victimized once, be wary of persons who call offering to help you recover your lossesfor a fee paid in advance. If you have … The Nigerian government is not sympathetic to victims of these schemes, since the victim actually conspires to remove funds from Nigeria in a manner that is contrary to Nigerian law.

 

Just How Wrong Is Conventional Wisdom About Government Fraud …

Aug 15, 2013 – According to the Association of Certified Fraud Examiners (ACFE), the typical businessloses 5 percent of its revenue to fraud each year. Even when detected, 40 to 50 percent of victimized companies don’t recover their losses. The industries most likely to be victims of fraud are the banking and financial …

Investment Fraud

Victims are often drawn into prime bank investment frauds because the criminals use sophisticated terms, legal-looking documents, and claim the investments are insured against loss. Advance Fee Fraud: …. It’s true that most money lost to investment fraud is rarely recovered beyond pennies on the dollar. In many cases …

 

Eight Extreme Cases of Insurance Fraud | Fox Business

Jun 9, 2011 – “When you start adding in the lost productivity of businesses, the lost life savings of individuals and the cost to investigate and prosecute, the total figure … Sometimes the policyholder is the victim of insurance fraud by grifters like James Lee Graff, who robbed some 30,000 people of more than $40 million in …

 

Examining the FBI: How Investigations Get Started – Crowe Horwath LLP

The opening of an FBI investigation is somewhat subjective and requires collaboration and input from both the local U.S. attorney’s office and the local FBI office. Information used in investigations often comes from the victims themselves. If the victim is a financial institution, it would file a suspicious activity report. If the victim …

Corporate FraudThe most recent Financial Crimes Report … | Chegg …

Corporate Fraud. The most recent Financial Crimes Report from the Federal Bureau of Investigation details the federal effort to respond to crimes by both individuals and corporations within and outside the financial markets. It is notable for the breadth of cases and for the focus on individual liability. I. GENERAL OVERVIEW.

From the Streets to Cyberspace: US Gangs Turn to White-Collar Crime

Oct 28, 2011 – Ponzi and other high-yield investment fraud schemes surged when the Dow Jones Industrial Average plunged from a high of 14,164 in October 2007 to 6,547 in March 2009, the FBI said in its 2009 Financial Crimes Report. While authorities have cracked down, the development of new schemes, such as …

FBI will overhaul tracking report, add missing crimes – USA Today

Apr 2, 2015 – In place of the summary crime report, the FBI is expanding the capacity of a National Incident-Based Reporting System, or NIBRS, that has the potential … Among the areas of review are the state of the agencies’ records management systems, the costs required for conversion and whatfinancial or technical …

 

Advanced Financial Crimes Investigations Certification | ACAMS

The ACAMS Advanced Financial Crimes Investigations Certification (CAMS-FCI) provides those who have already earned the CAMS Certification with focused education and training … Upon completion of the program, you will leave with confidence in your ability to detect, report and prevent financial crime/illicit activity.

Whether and how to report fraud to the Federal Bureau of Investigation …

Oct 29, 2016 – That includes health care fraud (such as Medicare fraud), money laundering, bank fraud, embezzlement, public corruption, environmental crimes, election law violations, and telemarketing fraud. This Article addresses two questions: (1) whether to report fraud to the FBI, and if so (2) how to reportfraud to the …

U.S. Court Case: 5 Cyber-Enabled Financial Crimes | Verafin

Dec 4, 2016 – Cyber-enabled crimes are a prevalent and growing threat in today’s financial crimelandscape. … In November 2013, the FBI began investigating the Defendant in connection with his involvement with a hidden online marketplace on the Tor network that specialized in the sale of illegal narcotics, stolen …

Introduction to Criminology: Theories, Methods, and Criminal Behavior

Frank E. Hagan – 2015 – ‎Social Science

The arm of the FBI that investigates financial crimes ranging from underground pyramid schemes to institutionalized fraud in the nation’s corporate suites has issued its annual report detailing the most prevalent types of schemes investigators tackled in 2006. The Financial Crimes Report to the Public is prepared each year …

The New Financial Crime Wave – Forbes

Mar 19, 2010 – And it was agents from the FBI’s New York field office who were there in December 2008 to arrest the hedge fund swindler Bernard Madoff, who’s serving a 150-year sentence in a North Carolina federal prison. In Pictures: The New Financial Crime Wave. There’s no shortage of work for Grupe and his team.

Oversight of the Federal Bureau of Investigation — National …

The terrorist threat is more diverse than it was 10 years ago, but today, we in the FBI are better prepared to meet that threat. We still confront traditional …. Financial Crimes. We have witnessed an increase in financial fraud in recent years, including mortgage fraud, health care fraud, and securities fraud. Mortgage Fraud.

 

What Does The FBI Crime Report Mean For Criminal Justice Reform …

Oct 11, 2017 – Contrary to Attorney General Sessions and others who suggest it shows the need for a 1980s-style crackdown on crime, the FBI’s just-released report for 2016 — showing that violent crimehas increased for the second consecutive year — does not actually demonstrate that we are experiencing a violent …

To combat cyber crime, banks and law enforcement must build …

global.wellsfargobank.com/wfinsights-articles-combatcybercrime?elqTrack=true

Speakers included Bryan Earl, supervisory agent and assistant general counsel from the Federal Bureau of Investigation (FBI); Pat Antonacci, managing director for SWIFT Americas; and leaders from Wells Fargo’s Financial Crimes Intelligence Group. More than 360 attendees from financial institutions around the world …

 

white-collar crime facts, information, pictures | Encyclopedia.com …

http://www.encyclopedia.com › … › Law › Crime and Law Enforcement

In 1981 the U.S. Department of Justice developed a further definition, which included “nonviolent crimefor financial gain utilizing deception and committed by anyone … The FBI reported in its Uniform Crime Reports (UCR) that of 14.1 million arrests for all crimes in the United States during 2005, 118,455 were for forgery and …

Statistical Analysis of White-Collar Crime – Oxford Research …

criminology.oxfordre.com/view/10.1093/acrefore/…/acrefore-9780190264079-e-267

This definition has been operationalized by the FBI’s Criminal Justice Services Division to mean the Uniform Crime Report (UCR) offenses of fraud, … Financial crimes committed with a computer, using the Internet, normally do not involve physical threat or violence, they almost always involve deception in some manner, and …

A Joint Effort to Fight Corporate Fraud – Journal of Accountancy

EXECUTIVE SUMMARY IN THE BATTLE AGAINST CORPORATE FRAUD, the FBI’s top financial crimeinvestigators have taken their case to the CPA profession, seeking expanded cooperation between accountants and law enforcement officers. THE AICPA AND THE FBI RESPONDED with a joint effort that was kicked off …

 

Six agencies — including FBI, CIA, Treasury — probing possible …

Jan 18, 2017 – The agencies involved in the inquiry are the FBI, the CIA, the National Security Agency, the Justice Department, the Treasury Department’s Financial Crimes … 6, the director of national intelligence released a declassified report that concluded Russian President Vladimir Putin had ordered an influence …

Mortgage fraud huge in Florida, FBI report says – Orlando Business …

Aug 8, 2005 – The Federal Bureau of Investigation’s recent Financial Crimes Report states that mortgage fraud is a “pervasive and growing” problem in the current market climate, especially in the Sunshine State. In fact, the report singles out Florida as one of the nation’s top 10 hot spots for mortgage fraud, along with …

 

White-collar fugitives: 10 people wanted by the FBI – CNBC.com

Dec 10, 2013 – The Federal Bureau of Investigation’s white-collar most wanted list includes all kinds of alleged nonviolent crime, from petty mortgage swindling to fraudulent hedge fund management. Data show that in the last three years, at least 27 fugitives from the regularly updated list have been captured. Of greater …

 

1.2. Characteristics and Types of Fraud | The Challenges in Forensic …

Jul 23, 2013 – Figure 1.1 Number of fraud cases by category investigated by the FBI between 2005 and 2011. Data for the graphs obtained from the FBI’s Financial Crimes Report to the Public from the years 2009 and 2011. The 2009 report covers the years 2005–2009, and the 2011 report covers the years 2010–2011.

Criminology: Theories, Patterns, and Typologies – Google Books Result

Larry J. Siegel – 2012 – ‎Education

Nikos Passas, “Structural Sources of International Crime: Policy Lessons from the BCCI Affair,” Crime, Law and Social Change 19 (1994): 223–231. FBI, Financial Crimes, “Financial Crimes Report to the Public, Fiscal Year 2008,” www.fbi.gov/publications/financial/fcs_ report2008/financial_crime_2008. htm#securities …

 

The Statistics – DataLocker

Jul 8, 2016 – Gartner Group 2003; 80% of those surveyed acknowledged financial losses due to Computer breaches. – CSI / FBI 2002; 97% of stolen Laptops / PC’s are never recovered. – FBI; The average company loss due to the theft of just one Laptop / PC is more than $47,000. CSI / FBIComputer Crime and …

AN INVESTIGATION OF FRAUD IN NONPROFIT ORGANIZATIONS …

webworks.typepad.com/lakecountyfiscalrangers/…/nonprofit_fraud_keating_35pgs.p…

by J Greenlee – ‎Cited by 137 – ‎Related articles

… of fraud might be extensive. For example, the FBI reported that more than two thousand of the internet sites soliciting relief for … as a result of the widespread availability of detailed financialinformation (Gordon et al 1999). Finally … Applying this percentage to the nonprofit sector would suggest that the fraud loss would be.

Anti-Fraud and Financial Investigations | Independence Blue Cross

Anti-Fraud and Financial Investigations. Last year, the FBI estimated that between 3% and 10% of all health care spending in the U.S. went towards fraudulent claims. Fraud has real effects on everyone in the health care system. For members, fraud increases the costs of benefits and reduces the quality of care they receive.

 

“The FBI Estimates That 80 Percent Of All Mortgage Fraud Involves …

Dec 13, 2011 – Fraud By The Big Banks – More Than Anything Done By The Little Guy – Caused TheFinancial Crisis. … “The FBI Estimates That 80 Percent Of All Mortgage Fraud Involves Collaboration Or Collusion By Industry Insiders”. Posted on … Note that this same recipe maximizes fictional profits and real losses.

 

A community guide to identifying and preventing fraud – Essex Police

20. Cheque overpayment fraud. 22. Computer based frauds. 23. Mobile phone fraud. 24. Recovery Fraud. 25. Money mules. 26. Reporting and Advice. 27. Prevention. 28. Victim Support. 29 … have beenvictim of a “scam”, and have lost their life savings and the … because money lost to fraud is very rarely recovered. 5 …

 

FBI: $2.3 Billion Lost to CEO Email Scams — Krebs on Security

Apr 7, 2016 – Unlike traditional phishing scams, spoofed emails used in CEO fraud schemes rarely set off spam traps because these are targeted phishing scams that … In the case where executives or employees have their inboxes compromised by the thieves, the crooks will scour the victim’s email correspondence for …

Scamwatch: Crooks hit victims with double-whammy fraud – AOL.co.uk

Sep 24, 2017 – So-called “fraud recovery fraud” takes place when fraudsters contact those who have already lost money claiming to be law enforcement officers or lawyers who can recoup their losses. In the latest “fraud recovery fraudscam, criminals are sending out letters that appear to be from the police to fraud victims …

Coin dealer jailed, but victims of his nearly $18 million scam may not …

Nov 15, 2016 – “I think there are a lot of older people” among the victims, Zolot told the judge at Tulving’s sentencing hearing. RECOVERING MONEY, COINS. Many are losing hope about recoveringtheir losses. Thousands of coins seized from Tulving were originally valued at $7.3 million. But they may actually be worth …

 

The Financial Cost of Fraud 2015 – PKF International

PKF Littlejohn LLP. The Financial Cost of Fraud 2015. What the latest data from around the world shows. Jim Gee and Professor Mark Button. ForensiC. & CoUnTer FraUd …. the sums lost to fraud need to be traced and recovered. However, these are actions ….. victims of their dishonesty and thus less concerned about any …

Years after financial scam, restitution trickles to victims, $2 at a time …

May 3, 2015 – Despite the efforts of court officials to enforce orders of restitution like the one imposed in Collins’ Johnson County case, it is rare for victims to recover everything they lost, local and national officials say. “Our criminal laws don’t have any teeth when trying to recoup these losses,” said Jacob Gontesky, …

 

S. Rept. 114-208 – FIGHTING FRAUD: U.S. SENATE AGING …

Senate report on FIGHTING FRAUD: U.S. SENATE AGING COMMITTEE IDENTIFIES TOP 10 SCAMSTARGETING OUR NATION’S SENIORS. This report is by the Aging.

Informed Investor Advisory: Third-Party Asset Recovery Companies …

Victims of investment scams are wise to use caution if approached by companies promising to help them recover their lost investment funds and bring the perpetrators to “justice.” A third-party assetrecovery company is a company that charges a fee to assist individuals in recovering money lost inscams. The company …

 


page: 11

 

List of confidence tricks – Wikipedia

Confidence tricks and scams are difficult to classify, because they change often and often contain elements of more than one type. Throughout this list, the perpetrator of the confidence trick is called the “con artist” or simply “artist”, and the intended victim is the “mark”. Particular scams are mainly directed toward elderly …

 

Gold Coin Scams Costs Americans – AARP

Or was it? Subscribe to the AARP Money Newsletter for more on finances, scams and fraud … Truelosses are likely higher because many victims don’t know they’ve been duped. … The Switch: Instead of selling advertised items, salespeople urge buyers to consider rare “collectible” coins, which will appreciate faster

 

2% Recovery Likely For Victims of $220 Million Ponzi Scheme …

Mar 25, 2013 – In a sobering reminder that Ponzi scheme victims rarely recover more than 5% of theirlosses, victims of a $220 million Ponzi scheme carried out by an Indiana couple learned that they can … Following news of the fraud, Wildwood was placed into bankruptcy by its creditors, and was later sold for $2 million.

[PDF]The Negligent Enablement of Imposter Fraud – Duke Law Scholarship …

scholarship.law.duke.edu/cgi/viewcontent.cgi?article=1253&context=dlj

by HM Howard – ‎2005 – ‎Cited by 18 – ‎Related articles

Dec 19, 2005 – Alabama Supreme Court permitted identity theft victim Bridgette. Patrick to recoverfrom the bank that negligently enabled an imposter to steal her identity and subject her to …. see also O’Brien, supra note 7 (“Consumers rarely face monetary losses related to identity theft because merchants or banks are …

 

Who Should Recover What In a Securities Fraud Class Action?

by RA Booth – ‎2005 – ‎Related articles

seldom amenable to pursuit as class actions. In other words … Jarvis & James R. Banko, SecuritiesFraud, Stock Price Valuation, and Loss Causation: Toward a Corporate Finance-. Based Theory of ….. the defendant alleged to violate this title caused the loss for which the plaintiff seeks to recover damages.” 15 U.S.C. §.

[PDF]Fighting Fraud – Senate Special Committee on Aging – Senate.gov

Nov 27, 2016 – Additionally, the Fraud Hotline offers real help to victims and to those targeted by scammers. Committee staff and ….. it received just eight new reports of victims losing money to thisscam.19 TIGTA believes this sub- stantial drop-off is ….. Money that is stolen is rarely recovered, which can undermine victims‘ …

 

Fraud in cross-border e-commerce – European Commission – Europa EU

ec.europa.eu/consumers/ecc/docs/ecc-report-cross-border-e-commerce_en.pdf

FOREWORD. Fraud in cross-border e-commerce is a report prepared by the European Consumer Centres Network …. individual loss of £3 689.6 Europol suggests that victims lose around €290 billion each year worldwide ….. ECC-Net also receives information about less frequently occurring scams which although rare, are.

I Fell Victim to a $1,500 Used Camera Lens Scam on Amazon

Aug 11, 2017 – Here’s the story of how I fell victim to this used lens scam. On June 29th, I ordered a used lens through Amazon Marketplace, and the seller’s name was “Lana’s Store”. The lens is a Canon 70-200mm f/2.8 II, which normally runs around between $1,500 and $1,600 used. The description of the used lens …

 

Jan 18 – RGP Issues IMF Scam Warning – Your Gibraltar TV

6 hours ago – The RGP reminds the public that, if what is being offered sounds too good to be true, it usually is adding that individuals who fall victim to these types of scams will never receive the promised money and will rarely recover their loss as the perpetrators can be located anywhere in the world and extremely …

 

Jamaican lottery scams spread despite US crackdown | Fox News

Apr 17, 2012 – Wilson said her elderly father became so enmeshed with the fraud artists that he even followed their instructions to buy a new phone and block his daughters from calling him. Meanwhile, the cheats pressured him to wire money and provide passwords for all his accounts. If victims try torecover losses, the …

 

2017’s States Most Vulnerable to Identity Theft & Fraud | WalletHub®

Oct 18, 2017 – In September 2017, the credit bureau announced that it had fallen victim to one of the biggest data breaches in recent history. As a result of the hack, … Our data set ranges from identity-theft complaints per capita to average loss amount due to fraud. Read on for our … Worst States for Identity Theft & Fraud …

Identity Theft Protection Monitoring and Recovery Services – My Fast PC

Jul 23, 2017 – Identity theft protection provides credit and identity monitoring for early signs of fraud, plus recovery and insurance services to limit exposure and loss. … There were 38.3 million identity crimevictims in 2015 (that’s one in eight Americans) – 2016 Fraud Report, Javelin Strategy & Research. Identity theft is a …

 

Top 6 real estate scams – and how to avoid them – The Globe and Mail

Aug 9, 2013 – Title fraud. Although relatively rare, one of the most devastating frauds for property owners is title fraud. This type of fraud starts with identity theft. …. to Canadians who are victims of afraud or scam, although losses are almost never made whole and the recovery process can be long and burdensome.

Formal Opinion 2015-3: Lawyers Who Fall Victim to Internet Scams …

Apr 22, 2015 – If prospective clients rarely approach the recipient attorney based on an Internet search, this should be an immediate red flag.) The initial …. In addition to suffering the reputational damage and financial losses that may come with falling victim to a scam, a lawyer may have violated the duty of competence.

Securities Arbitration Lawyer | Nationwide Representation

If you have reason to believe that you have been the victim of fraud or misrepresentation, you have the opportunity to seek justice. But, you must choose an aggressive and experienced securities arbitration lawyer – it is vital to recovering your investment losses. Tracy Pride Stoneman. Give me a call so we can discuss your …

Detailed Guide for Timber Theft Victims – Eco-Outpost, Inc

TIMBER THEFT: WHAT A VICTIM NEEDS TO KNOW A. Victims, Losses, and Victimization Methods 1.Victims. 2. Losses 3. Victimization Methods B. Recourse 1. Criminal Law …. In just one case, a firm called the Columbia River Scaling Bureau was fined $3.2 million dollars for timber theft, fraud, and kickbacks. A task force …

[PDF]Hurdles of Different Heights for Securities Fraud Litigants of … – UCI Law

by OFD HURDLES – ‎Cited by 5 – ‎Related articles

Jan 23, 2014 – loss causation, or damages in an action under Section 10(b) of the. Exchange Act, Rule 10b-5, or Section 17(a) of the …. Either settlement or, in the exceedingly rare case of a lawsuit that goes to trial, a verdict for the … through which victims of fraud can recover at least some portion of their damages have …

Organized fraud and organizing frauds – SAGE Journals

journals.sagepub.com/doi/pdf/10.1177/1748895808096470

by M Levi – ‎2008 – ‎Cited by 85 – ‎Related articles

Victim sector. Victim sub-sector. Examples of fraud. Private. Financial Services. Cheque fraud. Counterfeit intellectual property and products sold as genuine. Counterfeit … Otherwise it may be a lossof the manufacturer’s property rights, but no-one is defrauded: the manufacturer …. of crime recoveryby creditors or state.

Revealed: The banks most likely to wrongly reject fraud victims – and …

http://www.mirror.co.uk › Money › Fraud

May 24, 2017 – Banks and building societies are legally obliged to refund any money lost through fraudimmediately – including any interest and expenses lost as a result. … If you’ve been a victim of fraudthrough a retailer, some debit card providers offer a Chargeback scheme where they might be able torecover some or …

[PDF]Who Can You Trust? – Center for NYC Neighborhoods

cnycn.org/wp-content/uploads/2014/12/Who-Can-You-Trust.pdf

What is a Foreclosure Rescue Scam? 14. COMMON SCAMS. 14. HOW DO SCAMMERS FIND VICTIMS? 15. Impact of Scams. 16. Who is Targeted by Scams? 18 …. ors, and homeowners around the country, the crisis has a rarely discussed and drastically ….. ditional loss that much more difficult to recoverfrom.

Journal Ponzi Schemes: A Critical Analysis – OneFPA

Madoff and Stanford’s victimslosses are not covered by the federal Securities Investor Protection Corp. (SIPC), which safeguards investment accounts against fraud or bankruptcy.9 There is the risk that many such schemes are still operating today without the knowledge of their investors. Therefore, we need a framework to …

 

Business Fraud: Culture Is the Culprit | Business Ethics

business-ethics.com/2014/09/23/1840-business-fraud-culture-is-the-culprit/

Sep 23, 2014 – In the most recent ACFE survey, more than half the companies reporting fraud had notrecovered any of their losses, and only 14 percent had been made whole. Fraud Prevention: A Mug Shot … Unfortunately, these anti-fraud strategies rarely are deployed in a repeatable, ongoing manner. Proactive data …

The Taxation of Thieves and Their Victims: Everyone Loses But Uncle …

repository.uchastings.edu/cgi/viewcontent.cgi?article=1008&context=hastings…
by C Manolakas – ‎2016 – ‎Related articles

Feb 9, 2017 – of losses produced by other types of fraudulent investment schemes. II. TAXATION OF THIEVES. A. INCLUSION OF UNLAWFUL INCOME. The final determination that income from all types of criminal activity is included in gross income for federal tax purposes was reached “after a series of confusing and …

Utah’s fraud ‘epidemic’: Victims share anger, embarrassment, hurt …

Oct 27, 2016 – The Utah Securities Fraud Task Force — comprised of 10 federal, state and local agencies — calculated that 4,400 victims lost $1.4 billion to investment …. And then their daughter, Michelle Farley, unexpectedly died in February from a rare illness called acute respiratory distress syndrome, a condition that …

Illegal Foreign Exchange Trading Scheme – Bank Negara Malaysia

Avoid Becoming a Victim > Illegal Foreign Exchange Trading Scheme … They rarely use documents to validate and verify the transactions. By engaging in these transactions, customers run … The illegal operators may also encourage investors to increase their investment to try to recover their losses. How to Protect Yourself …

 

REMEDIES FOR BREACH OF CONTRACT

Ordinarily, no enforceable contract exists at the time the suit is brought (either rescinded or never existed) or it is a losing contract (where the victim of the breach … Retention of benefit w/o compensation would be unjust; Reliance Interest – a party’s interest in recovering losses suffered by virtue of reliance on the contract, …

 

Patient Harm: When An Attorney Won’t Take Your Case — ProPublica

Jan 6, 2014 – For many of these patients or surviving family, a lawsuit is the only hope to recover losses, learn the truth about what happened and ensure the problem …. More than 450 attorneys were surveyed for the Emory study, “Uncovering the Silent Victims of the American Medical Liability System,” which found that …

 

[PDF]Alliance fights to prevent abuse of developmentally, intellectually …

Helping child victims of abuse to recover from the crimes committed against them … Yes, scam artists do make cold calls to elderly people hoping to score a credit …. strong reaction. Believe the child. Children rarely make up stories about abuse. Listen without passing judgment. Most children know, love and trust their abus-.

 

January_27_2017_Report_To_Congress – SIGTARP

Jan 27, 2017 – We will find crime, identify cost savings, and recover money lost to fraud. SIGTARP IS A 40 TIMES RETURN ON INVESTMENT. SIGTARP has already had a ….. 5 Years Supervised Release. Owner/Operator. Nationwide Mortgage Concepts. (Victim: Ally Bank). Michael Edward Filmore. 4 Years in Prison.

[PDF]Adequacy of Penalties for Fraud Offenses Involving Elderly Victims …

May 1, 1995 – principal victims. It also called for a Sentencing Commission review and report to Congress on fraud offenses involving older victims. According to a committee discussion draft report on S. 557, Congress, …. increased punishment assessed for amount of fraud loss does not fully capture the seriousness of.

 

Be Prepared Before You Blow the Whistle – Fraud Magazine

Whistle-blowing, as it relates to fraud, is the act of reporting fraud, waste, and abuse. Reporting any act of wrongdoing is considered whistle-blowing, regardless if it’s reported by a public or private employee or to persons inside or outside of the victim organization. Anyone can report wrongdoing, but the level of protection an …

 

Are you a crime victim? Good luck collecting restitution in Utah

Mar 2, 2017 – Wayne R. Ogden, 52, is in a federal prison in Colorado. He was ordered to pay victimsmore than $18 million in restitution for Ponzi schemes in Ogden, St. George and Colorado from 1998 to 2011. Utah state officials say criminal restitution is rarely fulfilled in major white-collar crime cases. Ogden owned …

Fraud and Abuse in Federal Programs | Downsizing the Federal …

by C Edwards – ‎2009 – ‎Cited by 4 – ‎Related articles

Aug 1, 2009 – With such a huge array of handouts, the federal budget has become victim to large-scalefraud and abuse—that is, people taking government benefits to which they are … Losses to federal taxpayers from fraud, abuse, and other types of improper payments are in the ballpark of $100 billion a year or more.

 

Hundreds of millions of penalties issued by B.C. Securities …

3 days ago – “It is sort of an unsexy part of the job to actually try and enforce an order and recover(fines). But it’s …. An analysis of B.C. Securities Commission and court records shows at least 4,900fraud victims lost $185 million in schemes in the past decade where the commission issued fines of $100,000 or greater to …

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Major Financial Crime — FBI

https://www.fbi.gov/news/stories/major-financial-crime

Financial crime is a real and insidious threat—one that takes a significant toll on the economy and its many victims. Today, Director Robert S. Mueller talked about the impact of financial crime and the Bureau’s longstanding role in combating it in a keynote speech before the Miami Chamber of Commerce.

The Director explained that even in the post-9/11 world—with its needed focus on terrorism and other national security threats—the FBI continues to take its criminal responsibilities seriously. “What has changed,” he said, “is that we make greater use of intelligence and partnerships to better focus our limited resources where we can have the greatest impact—for example, on combating large-scale financial fraud.”

It’s all about working smarter—using new information-sharing efforts, intelligence-driven investigations, and task force-based approaches to leverage the talents and resources within and among agencies to get a bigger bang for the buck, so to speak, in fighting financial fraud.

Among the innovations and initiatives outlined by the Director:

  • Three years ago, we established the Financial Intelligence Center to strengthen our financial intelligence collection and analysis. “This center helps us to see the entire picture of financial crimes. It provides tactical analysis of financial intelligence data, identifies potential criminal enterprises, and enhances investigations. It also coordinates with FBI field offices to complement their resources and to identify emerging economic threats.”
  • Today, we have more than 500 agents and analysts using intelligence to identify emerging health care fraud schemes, and field offices target fraud through coordinated initiatives, task forces and strike teams, and undercover operations.
  • The Miami office has led the way by creating the first Health Care Fraud Strike Force, which is now a national initiative. Through the strike force, the Bureau works closely with federal, state, local, and private sector partners to uncover fraud and recover taxpayer funds. “Last year, our combined efforts returned $4.1 billion dollars to the U.S. Treasury, to Medicare, and to other victims of fraud.”
  • As the result of a new forensic accountant program, we now have 250 forensic accountants “trained to catch financial criminals” and “ready to respond quickly to high-profile financial investigations across the country.”
  • In the last four years, we have nearly tripled the number of special agents investigating mortgage fraud. “Our agents and analysts are using intelligence, surveillance, computer analysis, and undercover operations to identify emerging trends and to find the key players behind large-scale mortgage fraud.”
  • In 2010, the FBI began embedding agents at the Securities and Exchange Commission (SEC). “This allows us to see tips about securities fraud as they come into the SEC’s complaint center…to identify fraud trends more quickly and to push intelligence to our field offices.”

Everyone has a role in fighting fraud, including business and community leaders. “You can learn to recognize financial fraud and unscrupulous business practices, to better protect yourself and your companies,” Mueller said. “And you can alert us when you see these activities take place.”

 

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Avoid being a victim

According to the Federal Trade Commission, scammers defraud victims out of thousands of dollars every day. The agency recommends following some of these tips to spot a scam:

  • Are you told you’ve won a sweepstakes prize but can’t recall entering a sweepstakes contest? 
  • Are you told you’d have to pay money to get your prize? These supposed costs can include paying taxes, shipping and handling charges or processing fees to get your prize.  There is no reason to give out your checking account number or credit card number in response to a sweepstakes promotion.
  • Are you asked to wire money to someone?  You may be told to wire money to an agent of “Lloyd’s of London” or another well-known company – often in a foreign country – to “insure” delivery of the prize.  Don’t do it.  Wiring money is like sending cash.  Once it’s gone, you can’t trace it or get it back.  The same thing goes for sending a check or a money order by overnight delivery or putting money on a prepaid debit card.
  • Are you asked to deposit a check they’ve sent you?  When you do, they’ll ask you to wire a portion of the money back to them.  The check will turn out to be a a fake, and you will owe the bank any money you withdrew.
  • Does the caller claim to be from the government or another organization with a name that sounds official?  They might tell you that they are from an agency like the Federal Trade Commission and are informing you that you’ve won a federally supervised lottery or sweepstakes.  They might use an official-sounding name like “the national consumer protection agency” or the non-existent “National Sweepstakes Bureau.”  No federal agency or legitimate sweepstakes company will contact you to ask for money so you can claim a prize.   
  • Are you asked to go to Walmart or another store immediately to purchase a pre-paid card and either give them the card numbers or mail it somewhere? The caller often asks you to pay something immediately or risk being arrested.  These scams often involve a claim that the caller is from the IRS or an accusation that you failed to report for jury duty in state or federal court.  

What can you do to avoid becoming a victim of a fraud scheme:

  • You are the first line of defense.  Never give out your personal or bank information.  If you get a call and you aren’t sure, tell them you will call them back.  Don’t use any phone numbers they have given you.  Find the phone number for the agency or office yourself.  If they said they were calling from the IRS, find the phone number for the IRS yourself.
  • Ask yourself – Do I owe the IRS money?  Could there really be a warrant out for my arrest if I don’t give the caller money immediately?  Did I enter a sweepstakes?
  • Check them out.  Scammers don’t obey the law.  To avoid a scam, you have to do some research.  Try typing the company or product name into your favorite search engine with terms like review, complaint or scam.  You could also call your state consumer protection office or law enforcement. Do your homework before you give someone your money.
  • Talk to someone you trust.  If you are in doubt, talk to a friend, a family member, or perhaps someone working at the Senior Center.  Tell them about the piece of mail you got or the phone call you received. You could also call your police department or talk to your bank for advice.

Some of Utah’s most common fraud traps include Ponzi schemes set up around real estate deals, investment scams that promise returns from stocks or foreign currency and schemes were victims are promised they’ve won a sweepstakes or are otherwise about to receive a large amount of money but need to pay something in advance in order to cash in.

Prevention is key, according to law enforcement officials, because once the crime has occurred there is often little that enforcement agencies can do to recoup the money lost.

When an 82-year-old St. George woman who had lost her life savings in a months-long telephone scam actually had the chance this summer to confront the woman responsible in court, state and federal prosecutors couldn’t help but remark how rare it was for a fraud victim to actually get at least some kind of redress.

That woman did not expect to recover much of the estimated $161,000 she had lost in the scam.

 

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Justice and Recovery for Victims of Financial Crime

The mission of the Financial Crime Resource Center is to help victims of financial crime recover their assets, and recover control of their lives.

We partner with organizations around the United States who work with victims of fraud, identity theft and other financial crimes to ensure that victims have access to the best possible services and advice to assist them with recovery. We also advocate for fair compensation and restitution for all crime victims who have experienced harms caused by both financial and non-financial crimes.

Join us as we continue to work towards a day when all victims have access to financial justice and the recovery options they need.

Contact the Financial Crime Resource Center Director Laura Cook at lcook@ncvc.org

Taking ActionTaking Action: An Advocate’s Guide to Assisting Victims of Financial Fraud, a guide for advocates produced by the National Center for Victims of Crime and the FINRA Investor Education Foundation, is now freely available in both digital and hard copies.

This guide seeks to empower those people on the front line – the consumer advocates, lawyers, counselors and victim service providers who come into contact with fraud victims every day – and provide victim centered resources to address various types of financial fraud.

Download or Order your Copy Today

 

==

ICC Commercial Crime Services

Cinnabar Wharf
26 Wapping High Street
London
E1W 1NG
United Kingdom

Phone: +44 (0)20 7423 6960
Fax: +44 (0)20 7423 6961
fraudnet@icc-ccs.org
www.icc-ccs.org

 

Organizations

Countries

Leading Cases

Legal Developments

 

Leading cases

https://www.icc-ccs.org/home/resources/118-leading-cases

February 2012 – Criminal Charges against the former Head of the Lviv Court of Appeal

The criminal case against Ihor Zvacrych, the former Head of the Lviv Court of Appeal was initiated by General Prosecutor’s Office in December 2008 by bringing the bribery charges. Since March 2009 he has been under arrest and was further sentenced for ten years of imprisonment with confiscation of his property for taking bribes in the amount of about UAH 963,000.00. According to information available, the above decision was appealed in October 2011 and is pending consideration by the respective Appellate Court.
February 2012 – Criminal Charges against the former Minister of Internal Affairs of Ukraine
February 2012 – Criminal Charges against the former Prime-Minister of Ukraine
February 2012 – Elita Tsentr Case
February 2012 – King’s Capital Case
October 2011 – Abacha Case
October 2011 – Duvalier Case

“With its deep bench of qualified talent, FraudNet can quickly assemble an ad hoc team of international specialists based purely on their proven ability to execute a specific legal strategy for optimizing asset recovery in targeted jurisdictions.”

~FraudNet member Peter Maynard, senior counsel at Peter D. Maynard Counsel & Attorneys of Nassau, The Bahamas.

 

3 types of Organizations:
Governmental,
Non-Governmental,
and Academic

 

Non-Governmental:

Association of Certified Fraud Examiners
The ACFE is the world’s largest anti-fraud organization and premier provider of anti-fraud training and education.

Global Witness
Based in London and Washington DC, Global Witness is an international NGO established in 1993 that works to break the links between natural resource exploitation, conflict, poverty, corruption, and human rights abuses worldwide.

International Association for Asset Recovery (IAAR)
The International Association for Asset Recovery (IAAR) is an international membership organization for private sector and government asset recovery professionals, which offers educational programs, information exchanges, and networking opportunities. IAAR has developed a professional certification in asset recovery, the CSAR (Certified Specialist in Asset Recovery) credential.

International Association of Prosecutors (IAP)
The International Association of Prosecutors (IAP) includes about 200’000 prosecutors from over 120 states.

International Center for Asset Recovery (ICAR)
ICAR is an NGO based in Basel which specializes in training and assisting developing countries on the practical work of tracing, confiscating and repatriating the proceeds of corruption, money laundering, and related crimes.

International Chamber of Commerce (ICC) Anti-Corruption Commission
The ICC Anti-Corruption Commission encourages self-regulation by enterprises in confronting issues of extortion and bribery and provides business input into international initiatives to fight corruption.

OffshoreAlert
OffshoreAlert specializes in reporting about Offshore Financial Centers, with an emphasis on fraud investigations, and also holds an annual conference about OFCs, focusing on products and services, tax and political issues, compliance, money laundering, fraud, asset recovery and investigations.

SHERPA
SHERPA is a Paris-based non-profit organization dedicated to protecting and defending victims of economic crimes.

Transparency International
The Berlin-based Transparency International (TI) is a non-governmental organization that fights and monitors international corruption. It notably publishes each year a Corruption Perceptions Index (CPI).

U4 Anti-Corruption Resource Centre
U4 Anti-Corruption Resource Centre, which serves eight development agencies, assists donor practitioners in more effectively addressing corruption challenges through their development support.

World Check
London-based Thompson Reuter’s World Check maintains a database of Politically Exposed Persons (PEPs) and heightened risk individuals and organisations for money laundering prevention purposes.

 

 

Governmental:

Egmont Group
The Egmont Group of Financial Intelligence Units (FIUs) allows FIUs to cooperate, especially in the areas of information exchange, training and the sharing of expertise in the fight and prevention of money laundering.

Financial Action Task Force (FATF)
The Financial Action Task Force (FATF) is an inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing.

International Money Laundering Information Network (IMoLIN)
IMoLIN is an Internet-based network assisting governments, organizations and individuals in the fight against money laundering and the financing of terrorism, which includes a database on legislation and regulations throughout the world, an electronic library, and a calendar of events in the anti-money laundering / countering the financing of terrorism fields.

International Criminal Police Organization (INTERPOL)
Based in Lyon, France, the International Criminal Police Organization (INTERPOL) enables police around the world to work together.

United Nations Office on Drugs and Crime (UNODC)
The mandate of the Vienna-based United Nations Office on Drugs and Crime (UNODC) is to assist Member States in their struggle against illicit drugs, crime and terrorism, through technical cooperation, research and analytical work, and normative work.

Stolen Assets Recovery Initiative (StAR)
The Stolen Asset Recovery Initiative (StAR) is a partnership between the World Bank and theUnited Nations Office on Drugs and Crime (UNODC) that supports international efforts to end safe havens for corrupt funds. StAR works with developing countries and financial centers to prevent the laundering of the proceeds of corruption and to facilitate more systematic and timely return of stolen assets.

 

Academic:

United States Legal Information Institute (LII) – www.law.cornell.edu
A research and electronic publishing activity of the Cornell Law School. Popular collections include: the U.S. Code, Supreme Court opinions, and “Law about…”.

British Columbia Court Services Online – www.eservice.ag.gov.bc.ca
Currently free of charge, this site allows you to search for files relating to the Provincial and Supreme Court (Civil and Criminal) and Court of Appeals.

Canadian Legal Information Institute – www.canlii.org
CanLII is a non-profit organization managed by the Federation of Law Societies of Canada. CanLII’s goal is to make Canadian law accessible for free on the Internet.

British and Irish Legal Information Institute – www.bailii.org
British and Irish case law & legislation, European Union case law, Law Commission reports, and other law-related British and Irish material.

World Legal Information Institute – www.worldlii.org
Free, independent and non-profit access to worldwide law. This site contains links to numerous free searchable legal databases from around the world.

 

Fraud Risk Assessment Tool – An invaluable resource for fraud examiners to use in identifying and addressing their clients’ or employers’ vulnerabilities to internal fraud. Fraud professionals can use this tool to assist organizations in identifying fraud risks and developing a fraud risk assessment. For non-members,  learn how to receive three free modules of the ACFE’s Fraud Risk Assessment Tool.

Fraud Prevention Check-Up – Are you vulnerable to fraud? Do you have adequate controls in place to prevent it? Test your company’s fraud health with this free training resource featuring a checklist and video.

Fraud’s Hidden Cost to You and Your Organization – Available exclusively for CFEs, this training program is designed to educate employees about the warning signs of fraud and what to do if they suspect it.

Test Your Knowledge – Test your anti-fraud IQ. This CFE Practice Quiz includes 20 actual questions covering material from all four sections of the CFE Exam. You will receive immediate feedback after each answer, and after completion you will get a final grade.

Find a CFE – Grow your network or simply find an anti-fraud professional to help you overcome your latest challenge. Search for Certified Fraud Examiners by geographic area or industry.

 

Publications

 

Fraud Magazine – The ACFE’s bimonthly publication on white-collar crime and fraud examination techniques.

FraudInfo – A free biweekly e-newsletter packed with the latest anti-fraud materials, courses and events.

The Fraud Examiner – This monthly, members-only newsletter includes exclusive articles and videos. Learn from field experts and CFEs the recent trends and techniques used to take down fraudsters.

ACFE Insights – Find news, analysis and commentary on the global fight against fraud on the ACFE’s official blog. Featuring blogs from ACFE staff, experts in the fields of digital forensics, fraud risk management compliance and more.

Anti-Fraud Resource Guide – This quarterly publication is mailed to all ACFE members and provides detailed listings of all of the ACFE’s learning events and materials. Find all of the information you need regarding the latest anti-fraud seminars, conferences, self-studies, books and ACFE merchandise.

Bookstore Catalog – Dig deeper into the most up-to-date publications and reference materials keeping fraud fighters ahead of the curve. This biannual publication features the most relevant books, manuals and online learning materials available, as well as ACFE clothing, accessories and more.

 

Related Resources

CFEs earn 31 percent more than their non-credentialed counterparts

What leaves organizations most vulnerable to fraud?

How much does fraud cost your industry?

Fraud in small business

 

 

Links to anti-fraud and anti-corruption organizations:

 

Bahamas

The Financial Intelligence Unit

3rd Floor Norfolk House
Frederick Street
P O Box SB 50086

 

USA

Executive Office for the U. S. Trustees, Criminal Enforcement Unit – 

Website: www.justice.gov/ust/eo/fraud;
Access to information related to the enforcement of criminal laws including bankruptcy cases.

Securities and Exchange Commission – Website:www.sec.gov
Obtain records and information from Federal agency that enforces securities law in the US.

U. S. Treasury Department – Website: www.ustreas.gov
Obtain records and information from the Federal organization that enforces tax laws in US.

U. S. Department of Justice – Website: www.usdoj.gov
Access to a variety of information related to the enforcement of Federal law.

Federal Trade Commission, Consumer Response Center -Website: www.ftc.gov
Access to records and information from the Federal organization that enforces trade and commerce laws in the US.

FBI Headquarters in Washington, D. C. -Website: www.fbi.gov
Access to significant information from the leading Federal agency on criminal investigations and law enforcement.

Federal Deposit Insurance Corporation – Website:www.fdic.gov
Access to records and information from the entity charged with insuring depositors.

World Bank – United Nations (StAR Initiative) – Website: www.worldbank.org
Obtain records and information on UN agency focused on bribery and corruption.

Federal Reserve – Website: www.federalreserve.gov
Records and useful information from the “Central Bank” for the US.

District of Delaware Bankruptcy Court – Website: www.deb.uscourts.gov
Obtain access to bankruptcy records and pleadings from one of the most active venues in the US.

Northern District of Texas Bankruptcy Court – Website: www.txnb.uscourts.gov
Obtain access to bankruptcy records and pleadings.

Southern District of New York Bankruptcy Court – Website:www.nysb.uscourts.gov
Obtain access to bankruptcy records and pleadings from one of the most active venues in the US.

Delaware’s Office of the Secretary of State, Division of Corporations – Website:www.sos.delaware.gov/sos.shtml
Search records of corporations based in Delaware.

New York Department of State – Division of Corporations – Website:www.dos.state.ny.us/corp/corpwww.html
Search records of corporations based in New York.

Texas Secretary of State Office – Corporations Section – Website:www.sos.state.tx.us/corp/sosda/index.shtml
Search records of corporations based in Texas.

Other Resources: USA

Bloomberg Law – Website:www.bloomberglaw.com
Search legal, news, and company databases

Dow Jones Factiva – Website:www.factiva.com
Access and search extensive news and business information.

Dun & Bradstreet – Website: www.dnb.com
Locate liens on companies and business credit references, trace hierarchies and key officers at companies.

Federal Aviation Administration (FAA) – Website: www.faa.gov
Search free information on aircraft by N-Number and request complete aircraft documents submitted to the FAA pertaining to specific aircraft.

FINRA BrokerCheck – Website:http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/
Obtain free detailed reports in all FINRA-registered brokers and brokerage firms.

InfoCheck – Website: www.infocheck.com/
Provides services for people searches, criminal reports, SSN tracking and credit reports.

KnowX Public Records – Website:
https://www.knowx.com/home/home.jsp
Access to personal and business background checks, certifications, and public records.

LexisNexis Public Records and News Resources – Website: http://www.lexisnexis.com/
Access to public records on individuals, businesses, and locations, as well as extensive news searches.

Public People Finder –
Website: http://www.publicpeoplefinder.com/
Search public records, people, criminal records, background records, and more through this national licensed detective agency.

U.S. Department of the Treasury
Website: http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx
Search the Specially Designated Nationals List of entities generally prohibited from U.S. dealings.

Westlaw Public Records – Website:www.directory.westlaw.com
Access to people records, public records by state, property assets, licenses, certifications.

 

2016 Report to the Nations on Occupational Fraud and Abuse

The 2016 Report to the Nations on Occupational Fraud and Abuse provides an analysis of 2,410 cases of occupational fraud that were investigated between January 2014 and October 2015. All information was provided by the Certified Fraud Examiners (CFEs) who investigated those cases. The fraud cases in our study came from 114 countries throughout the world — providing a truly global view into the plague of occupational fraud.

rttn-hero-440x200.jpg

http://www.acfe.com/rttn2016/victims/controls.aspx

 

Investor’s Guide to Loss Recovery: Rights, Mediation, Arbitration, …

Louis L. Straney – 2011 – ‎Preview – ‎More editions

This book should have been on my shelf ten years ago!”—Karen Rey, RN, Territory Sales Manager, Alaska, Neuromodulation Division, St. Jude Medical Investor’s Guide to Loss Recovery Rights, Mediation, Arbitration,and Other Strategies

 

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Assessing the Cost of Financial Regulation – Page 55

0 Taxes tied directly to the financial crisis. The Obama Administration in the United States proposed a Financial Crisis Recovery Fee (FCRF), essentially a tax designed to recover the taxpayer losses from the Troubled Asset Relief Program (TARP). This does not appear likely to pass through Congress, especially since the expected TARP losses have shrunk to relatively modest levels from much higher original estimates. 0 Financial transactions tax. There is a lively debate going on …

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What’S the Damage? Medium-Term Output Dynamics After Banking Crises

I. INTRODUCTION1 The global economy is beginning to recover from the most severefinancial crisis since the Great Depression and the deepest recession since World War II.Financial systems remain impaired and domestic and … A first glance at several previous episodes suggests that while banking crises typically lead to large output losses in the short run, what happens to output over the medium run has varied widely (Figure 1). Some countries persistently grow at a slower rate …

 

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Regulation Public Procurement – National and International Perspectives

… cause the government considerable financial loss, which it may not be possible to recover(for example, if the contractor has become bankrupt). Completion of contracts is also, of course, important to the direct beneficiaries of the goods or services: the collapse of a defective bridge, for example, or a failure to collect household refuse on time, may seriously inconvenience the public. Where there is unsatisfactory performance of an ongoing contract such as a major construction project …

 

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Wall Street and the Financial Crisis: Anatomy of a Financial Collapse

Together these factors produced a mortgage market saturated with high risk, poor quality mortgages and securities that, when they began incurring losses, caused financialinstitutions around the world to lose billions of dollars, produced rampant unemployment and foreclosures, and ruptured faith in U.S. capital markets. Nearly three years later, the U.S. economy has yet to recover from the damage caused by the 2008 financial crisis. This Report is intended to help analysts, market …

 

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Global Financial Crisis: Foreign and Trade Policy Effects

The sudden loss of trillions of dollars in wealth, the addition of tens of millions of people to the ranks of the unemployed, and historic drops in economic activity have combined to create new challenges for policymakers. While the current focus is on measures to recoverfrom the financial and economic turmoil, the uncertainty and socio-political forces being generated are creating political instability, heightening security risks, and affecting U.S. interests in ways that could hardly have …

 

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Potential terrorist attacks additional actions needed to better … – Page 3

The massive destruction caused by the September 11, 2001, terrorist attacks on the World Trade Center and the resulting loss of life, facilities, telecommunications, and power significantly affected U.S. financial markets, which were concentrated in lower Manhattan. Despite enormous obstacles, the markets for stocks, options, government securities, and money market instruments all had reopened by the following week, but the attacks also exposed the vulnerability of the financial …

Meltdown: How Greed and Corruption Shattered Our Financial System …

Katrina vanden Heuvel – 2009 – ‎Preview – ‎More editions

From the leading magazine on the left, an exose of the failures, lies and misdeeds that caused the financial collapse—and a plan for rescuing the country.

 

Global Financial Crises and Reforms: Cases and Caveats – Page ix

B. N. Ghosh – 2002 – ‎Preview – ‎More editions

… months prior to the financial crises, but the loss of deposits accelerates as the crises unfold. There may be multiple reasons for this sudden decline. Pastfinancial crises periods have often been characterized by massive and persistent capitalflight. Deposits only start torecover a year and a half after the onset of the financial crises. B. The external sector The next four panels of Figures 1.2, 1.3, and 1.4 present indicators associated with the current account. The middle panel of the third …

 

Recovering from Losses in Life

H. Norman Wright – 2006 – ‎Preview – ‎More editions

Whether you’ve gone through a great tragedy or are just trying to deal with the small sorrows in life, this book can help you resist the pull toward despair and start on the road back to joy.

A Financial History of Modern U.S. Corporate Scandals: From Enron to …

Jerry W. Markham – 2006 – ‎Preview – ‎More editions

That company lost sixty-nine employees. … Citigroup estimated its direct losses from the September 1 1 attack to be some $700 million, including $500 million in loss claims at its Travelers insurance group, a venerable institution that had insured George Armstrong Custer before his death at … Restarting Wall Street Wall Street had backup systems in place for many of its businesses as a result of the terrorist attacks on the World Trade

Center in 1993, but recovery was not immediate.

 

Managing the Real and Fiscal Effects of Banking Crises

Daniela Klingebiel, ‎Luc Laeven – 2002 – ‎Full view – ‎More editions

that provided open-ended liquidity support and blanket deposit guarantees incurred much higher costs in resolving financial crises. They also find that these costs are higher in countries with weak institutions. Most important, Honohan and Klingebiel find no obvious tradeoff between fiscal costs and subsequent economic growth (or overall output losses). Countries that used policies such as liquidity support, blanket guarantees, and regulatory forbearance did not recover faster. Rather …

 

Forensic Accounting and Fraud Examination

Mary-Jo Kranacher, ‎Richard Riley, ‎Joseph T. Wells – 2010 – ‎Business & Economics

This “investment” approach means that, although rare, it may be possible for a plaintiff or victim torecover more than what was originally lost. Legal Methods for Recovery of Assets Depending on the jurisdiction, plaintiffs and victims have a number of possible legal mechanisms available to recoverassets either through the …

 

SEC.gov | How can investors get money back in a fraud case involving …

Feb 24, 2009 – There are a number of ways that investors who have been defrauded may recover some of their financial losses caused by the fraud, depending on the … may also order that any money collected, including fines paid, be placed in a Fair Fund for distribution to investors who were the victimsof the violation.

Fraud and Corruption: Prevention and Detection

Nigel Iyer, ‎Martin Samociuk – 2016 – ‎Business & Economics

… that although a fraud may have occurred, they are in control of the follow-up and that full recoveryactions are going to be taken. Objectives may include: • to control the immediate situation, continue business operations with minimum disruption and restore the business to normality as quickly as possible • to minimise loss …

Lost your money to binary options? Here’s how some victims got it …

The Times of Israel has spoken to several victims of binary options fraud who were indeed able torecover their money just by ascertaining the real address and names of the company owners. One British victim, who lost $35,000 to a Tel Aviv-based firm, hired a private detective to ascertain the company’s real address and …

 

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US-wages-bottom50-top1

Last week, Thomas Frank welcomed Paul Krugman to the ranks of those who believe that the American working-class in recent decades has often voted against its fundamental economic interests by supporting conservative Republicans.

 

Archive for the ‘corruption’ Category

Ben Bernanke: The revolving door between Wall Street and U.S. government agencies continues to revolve.

from David Ruccio

Apparently, the door between Wall Street and the U.S. government agencies in charge of regulating Wall Street continues to revolve. Former Federal Reserve chair Ben Bernanke is the latest to walk through the door.  Read more…

Piketty’s response to Mankiw et al.: “and some consume academics.”

January 17, 20157 comments

from David Ruccio

I didn’t attend the most recent American Economic Association/Allied Social Sciences Association meetings in Boston. But, according to Chuck Collins, several sessions focused on the sensation of French economist Thomas Piketty and his 2014 book on inequality, Capital in the Twenty-First Century.

As an outsider to academic economics, I was struck by just how compartmentalized and smug the field appears. At one point, [Gregory] Mankiw even put up a slide, “Is Wealth Inequality a Problem?” Any economist who ventures across the disciplinary ramparts will, of course, find a veritable genre of research on the dangerous impacts of extreme inequality.

We now have over two decades of powerful evidence that details how these inequalities are making us sick, undermining our democracy, slowing traditional measures of economic growth, and turning our political system into a plutocracy.

Mankiw, at another point in his presentation, had still more embarrassing comments to make. Piketty, he intoned, must “hate the rich.” Piketty’s financial success with his best-selling book, Mankiw added, just might lead to self-loathing.

These clearly well-rehearsed quips, aimed at knee-capping the humble French economist, fell flat. Mankiw’s presentation, entitled “R > G, so what?,” came across as little more than an apologia for concentrated wealth.

And Piketty’s response? Read more…

Eric Holder: The reason Robert Rubin isn’t behind bars

October 2, 20141 comment

from Dean Baker

The big news item in Washington last week was Attorney General Eric Holder decision to resign. Undoubtedly there are positives to Holder’s tenure as attorney general, but one really big minus is his decision not to prosecute any of the Wall Street crew whose actions helped to prop up the housing bubble. As a result of this failure, the main culprits walked away incredibly wealthy even as most of the country has yet to recover from the damage they caused.

Just to be clear, it is not against the law to be foolish and undoubtedly many of the Wall Streeters were foolish. They likely believed that house prices would just keep rising forever. But the fact that they were foolish doesn’t mean that they didn’t also break the law. It’s likely that most of the Enron felons believed in Enron’s business model. After all, they held millions of dollars of Enron stock. But they still did break the law to make the company appear profitable when it wasn’t.

In the case of the banks, there are specific actions that were committed that violated the law. Mortgage issuers like Countrywide and Ameriquest knowingly issued mortgages based on false information. They then sold these mortgages to investment banks like Citigroup and Goldman Sachs who packaged them into mortgage backed securities. These banks knew that many of the mortgages being put into the pools for these securities did not meet their standards, but passed them along anyhow. And, the bond-rating agencies rated these securities as investment grade, giving many the highest possible ratings, even though they knew their quality did not warrant such ratings.  Read more…

“But surely not every member of the profession has sold out?”

Here are some highlights from a strong post from Steve Denning on Forbes blog that condemns Joseph Stiglitz for shielding the “villains”.

Joseph Stiglitz, who this week offers his final entry in the New York Times’ series, The Great Divide, with the conclusion that inequality is not inevitable. The United States that was once a “shining city on a hill” has now become, he writes, “the advanced country with the greatest level of inequality.” In effect, it’s a choice that our society can make one way or the other. As a result of the actions of many individuals, our society has chosen inequality.

And Stiglitz names those responsible for this choice. They include CEOs, bankers, private equity titans, venture capitalists, politicians, deregulators, lobbyists, the Supreme Court, and those who run corporate welfare, the prison system, the high-price justice system and the unequal health system.

 

The missing villains: economists

Yet there is one category of actor curiously missing from Stiglitz’s list of villains: his fellow economists.

Read more…

Reinhart and Rogoff: One year later

from Dean Baker

It has been a bit more than a year since the Excel Spreadsheet error that shook the world. For those who may have missed it, in April of 2013, Thomas Herndon, a University of Massachusetts graduate student in economics, found an error in the calculations of Harvard Professors Carmen Reinhart and Ken Rogoff on the relationship between government debt and economic growth.

Reinhart and Rogoff had done analysis showing that countries experienced sharply slower growth once their debt to GDP ratio exceeded 90 percent. With the United States and many European countries reaching debt to GDP ratios in this 90 percent range, Reinhart-Rogoff’s work was seen as a warning alarm. It was taken as providing evidence that they would have to reduce spending and/or raise taxes to get or stay below the 90 percent cutoff.

Political leaders and central bankers around the world were happy to trumpet the Reinhart-Rogoff findings. The story was that cutting deficits may slow growth in the short-term, and seriously hurt those directly affected by the cuts such as laid off government workers, but it was essential medicine for sustaining a healthy economy.

The spreadsheet error uncovered by Herndon, and analyzed in a paper co-authored with two University of Massachusetts professors, Michael Ash and Robert Pollin, showed that the Reinhart and Rogoff story was not true. Working off the spreadsheet that Reinhart and Rogoff had created, they showed there was no 90 percent cliff. Reinhart and Rogoff’s cliff depended both on the spreadsheet error and also a peculiar way of aggregating growth rates across countries. Read more…

Economics textbooks – how to get away with scientific fraud

November 29, 201310 comments

from Lars Syll

fraud-kit

As is well-known, Keynes used to criticize the more traditional economics for making the fallacy of composition, which basically consists of the false belief that the whole is nothing but the sum of its parts. Keynes argued that in the society and in the economy this was not the case, and that a fortiori an adequate analysis of society and economy couldn’t proceed by just adding up the acts and decisions of individuals. The whole is more than a sum of parts. This fact shows up already when orthodox – neoclassical – economics tries to argue for the existence of The Law of Demand – when the price of a commodity falls, the demand for it will increase – on the aggregate. Although it may be said that one succeeds in establishing The Law for single individuals it soon turned out – in the Sonnenschein-Mantel-Debreu theorem firmly established already in 1976 – that it wasn’t possible to extend The Law of Demand to apply on the market level, unless one made ridiculously unrealistic assumptions such as individuals all having homothetic preferences – which actually implies that all individuals have identical preferences. Read more…

“A revolt against the orthodoxy has been smouldering for years and now seems to have gone critical.”

November 21, 20135 comments

from today’s Guardian and

Orthodox economists have failed their own market test

Students are demanding alternatives to a free-market dogma with a disastrous record. That’s something we all need

From any rational point of view, orthodox economics is in serious trouble. Its champions not only failed to foresee the greatest crash for 80 years, but insisted such crises were a thing of the past. More than that, some of its leading lights played a key role in designing the disastrous financial derivatives that helped trigger the meltdown in the first place.

Plenty were paid propagandists for the banks and hedge funds that tipped us off their speculative cliff. Acclaimed figures in a discipline that claims to be scientific hailed a “great moderation” of market volatility in the runup to an explosion of unprecedented volatility. Others, such as the Nobel prizewinner Robert Lucas, insisted that economics had solved the “central problem of depression prevention”.

Any other profession that had proved so spectacularly wrong and caused such devastation would surely be in disgrace. You might even imagine the free-market economists who dominate our universities and advise governments and banks would be rethinking their theories and considering alternatives.

After all, the large majority of economists who predicted the crisis rejected the dominant neoclassical thinking: from Dean Baker and Steve Keen to Ann Pettifor, Paul Krugman and David Harvey. Whether . . . .     continue reading here

As the door turns

November 21, 20138 comments

from David Ruccio

revolving-door

We can now add former Treasury Secretary Tim Geithner to the long list of those who have walked through the revolving door between Wall Street and the White House, which makes Noam Scheiber just a bit worried.Read more…

 

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Asset Tracing & Recovery: The FraudNet World Compendium

Front Cover
Bernd H. Klose
Erich Schmidt Verlag GmbH & Co KG, Nov 6, 2009Collecting of accounts1145 pages
„Crime does not pay“. What sounds so easy in theory is hard to keep in practice. Globalization has given criminals an unlimited number of possibilities especially in offshore areas to hide deprived assets. Bernd Klose and the international experts of FraudNet deliver comprehensive and crucial knowledge about the possibilities of asset tracing & recovery: – an introduction to methods of fraud – international available remedies – supranational legal sources – basics of asset tracing and recovery in common law and civil law – respective national laws, regulations and proceedings of over 40 countries All Addresses and country specific information are also accessible on the internet: A useful work of reference for your daily fight against fraud.

https://books.google.com/books?id=flWHUE7qN-oC&pg=PA521&lpg=PA521&dq=why+Fraud+victims+rarely+recover+losses&source=bl&ots=wb-uyEnQf9&sig=OPmPmWZVlz3xYO07AE3qBNhG0R8&hl=en&sa=X&ved=0ahUKEwi3jJabg-LYAhVRzFMKHb5BA9cQ6AEIVTAI#v=onepage&q=why%20Fraud%20victims%20rarely%20recover%20losses&f=false

TOC

Serious Fraud
5
What Is a Serious Fraudsman?
14
How Does Serious Fraud Happen? T…
20
International AntiMoney Launderi…
27
Prevention and Detection of Mone…
37
Freezing Assets and other Provis…
45
Conclusions
51
Part II
60
Development of an International …
98
Conclusion
108
Basics of Asset Tracing under Ci…
109
The Fundamentals of a Civil Asse…
111
Selecting the Place of Judgment
113
The Harmonization of Multiple Co…
115
Blocking Devices
117
Building the Foundation to the C…
118
Fraud at Law The Tort of Deceit
119
Fraud at Equity
120
Statutory Causes
121
Restitution and Unjust Enrichment
124
Tracing Or Tracking and Attribu…
126
Constructive Trust
129
Class Actions
131
The Tracing of Illicit Funds
133
Introduction
135
The Development of Tracing as a …
136
Modern Tracing Principles
142
Tracing Principles
144
Application of Tracing Principle…
157
Tracing in Other Contexts
160
Discovery Tools for Use in Conju…
165
Conclusion
167
Access to Justice
169
Access to Justice
171
Introduction
173
Access to Justice Practice vs T…
174
Quick Partial Recoveries
176
Conditional Fees U K Litigation
178
Contingency Fees U S
179
After the Event Litigation Costs…
180
Premiums for Policies Covering O…
182
Proceedings in Jurisdictions Out…
183
Sale of Shares in Litigation
195
Spoiled for Choice?
196
CountrySpecific Possibilities fo…
197
Argentina
199
Forword
201
Use of Information Obtained
204
Confidentiality of Information R…
209
Asset Recovery in Criminal Proce…
213
Asset Recovery in Civil Proceedi…
216
AntiMoney Laundering Regulations
219
AntiCorruption and AntiFraud Leg…
223
Rules on International Insolvenc…
229
Enforcement of Foreign Decisions
231
Helpful Addresses
233
Austria
235
Criminal Proceedings
237
Civil Remedies
245
Local Rules on Asset Tracing
252
AntiMoney Laundering Regulations
256
Bank Secrecy
260
Specific Laws and Remedies to Be…
266
Rules on Disclosure
267
Use of Information Obtained
271
Enforcement of Foreign Decisions…
273
Registration of Companies
277
Austrian Insolvency Proceedings
281
Helpful Addresses
285
Bahamas
287
Introduction
289
Criminal Proceedings
290
AntiMoney Laundering Regulations
294
Bank Secrecy
296
Specific Laws and Remedies
297
Enforcement of Foreign Decisions…
298
Rules for International Insolven…
299
Belgium
301
Criminal Proceedings
303
Civil Attachment Proceedings
306
Local Rules on Asset Tracing and…
310
Bank Secrecy
318
Rules on Disclosure and Use of I…
319
Enforcement of Foreign Decisions
320
Registration of Companies
322
Helpful Addresses
325
Brazil
327
Criminal Proceedings
329
Civil Remedies
331
Local Rules on Tracing of Assets
332
Acceptance of International Conv…
334
AntiMoney Laundering Regulations
335
Specific Laws and Remedies
337
Rules on Disclosure
338
Enforcement of Foreign Decisions
340
Registration of Companies
341
British Virgin Islands
343
Introduction
345
Civil Remedies
349
Equity Local Rules on Asset Tra…
359
AntiMoney Laundering Regulations
361
Bank Secrecy
364
Specific Statutory Remedies to Be…
365
Access to Evidence Rules on Dis…
366
Use of Information Obtained
369
Enforcement of Foreign Judgement…
371
Registration of Companies
373
Rules on International Insolvenc…
375
Helpful Addresses
379
Canada
381
Introduction
383
Civil Remedies
386
Canadian Rules on Tracing of Ass…
402
AntiMoney Laundering Regulations
406
Bank Secrecy
408
Other Laws and Remedies to Be Used
410
Use of Information Obtained
415
Enforcement of Foreign Judgments
418
Registration of Corporations
421
Rules on International Insolvenc…
422
References
425
Cayman Islands
427
Introduction
429
Civil Remedies
431
Local Rules on Asset Tracing
432
AntiMoney Laundering Regulations
434
Bank Secrecy
439
Specific Laws and Remedies to Be…
444
Use of Information Obtained
447
Registration of Companies
450
Rules on International Insolvenc…
454
Helpful Addresses
459
Chile
461
Criminal Proceedings
463
Civil Remedies
464
Local Rules on Tracing of Assets…
467
Acceptance of International Conv…
469
AntiMoney Laundering Regulations
473
Bank Secrecy
476
Specific Laws and Remedies to Be…
478
Enforcement of Foreign Decisions
479
Registration of Companies
481
Rules for International Insolven…
483
England
485
Criminal Proceedings
487
Civil Remedies
491
Local Rules on Tracing of Assets
499
Acceptance of International Conv…
501
Bank Secrecy
504
Specific Laws and Remedies to Be…
505
Rules on Disclosure
508
Use of Information Obtained
510
Enforcement of Foreign Decisions…
512
Registration of Companies
513
Rules for International Insolven…
514
Helpful Addresses
516
Finland
517
Criminal Proceedings
519
Civil Remedies
523
Local Rules on Asset Tracing
529
AntiMoney Laundering Regulations
531
Bank Secrecy
535
Specific Laws and Remedies
538
Rules for Disclosure
541
Use of Information Obtained
543
Enforcement of Foreign Decisions…
547
Registration of Companies
553
Rules on International Insolvenc…
558
Helpful Addresses
565
France
569
Introduction
571
Civil Remedies
576
Local Rules on Asset Tracing
577
AntiMoney Laundering Regulations
578
Bank Secrecy
579
Specific Laws and Remedies to Be…
580
Use of Information Obtained
581
Registration of Companies
582
Germany
585
Introduction
587
Civil Remedies
613
Local Rules for Tracing Assets
617
Acceptance of International Conv…
618
Bank Secrecy
619
Specific Laws and Remedies to Be…
620
Use of Information Obtained
621
Enforcement of Foreign Decisions
623
Registration of Companies
625
Rules for International Insolven…
626
Helpful Addresses
634
Gibraltar
637
Criminal Proceedings
639
Civil Remedies
642
Local Rules on Tracing of Assets
644
AntiMoney Laundering Regulations
645
Bank Secrecy
647
Specific Laws and Remedies to Be…
650
Use of Information Obtained
651
Enforcement of Foreign Judgments
652
Registration of Companies
654
Rules on International Insolvenc…
655
Helpful Addresses
656
Guatemala
657
Introduction
659
Civil Remedies
661
Acceptance of International Conv…
663
AntiMoney Laundering Regulations
665
Specific Laws and Remedies
666
Registry of Commercial Entities
667
Helpful Addresses
668
Guernsey
669
Introduction
671
Criminal Proceedings
672
AntiMoney Laundering Regulations
673
Civil Remedies Enforcement
677
Use of Information Obtained
679
Helpful Addresses
680
Hong Kong
681
Introduction
683
Tracing and Recovery Objectives
684
Local Rules on Asset Tracing
687
Use of Information Obtained
690
Enforcement of Injunctions
691
AntiMoney Laundering Regulations
693
Registration of Companies
694
Criminal Proceedings
695
Recent Local Developments
696
A Word on Strategy
697
Isle of Man
699
Introduction
701
Criminal Proceedings
702
Civil Remedies
703
Local Rules on the Tracing of As…
704
AntiMoney Laundering Regulations
705
Bank Secrecy
706
Specific Laws and Remedies to Be…
707
Rules on Disclosure
708
Enforcement of Foreign Decisions…
709
Registration of Companies
711
Rules on International Insolvenc…
713
Helpful Addresses
715
Italy
717
The Italian Legislations Instrum…
719
Fraudulent Offences and Liabilit…
729
The Legal Framework against Mone…
734
Civil Remedies
738
Local Rules on Tracing of Assets
746
Enforcement of Foreign Decisions
747
Kazakhstan
749
Introduction
751
Civil Remedies
754
Local Rules on Tracing of Assets
755
Bank Secrecy
756
Specific Laws and Remedies to Be…
757
Use of Information Obtained
758
Enforcement of Foreign Decisions…
759
Rules on International Insolvenc…
760
Liechtenstein
763
Introduction
765
Civil Remedies
769
Local Rules on Tracing of Assets
771
AntiMoney Laundering Regulations
772
Bank Secrecy
774
Specific Laws and Remedies to Be…
776
Use of Information Obtained
778
Rules on International Insolvenc…
781
Helpful Addresses
782
Mauritius
785
The Mauritius Jurisdiction
787
Civil Proceedings
790
Local Rules in Asset Tracing
794
Specific Laws and Remedies
796
Bank Confidentiality
801
Rules on Disclosure
802
Use of Information Obtained
803
Enforcement of Judgments
804
Registration of Companies
806
Rules on International Insolvenc…
809
The Netherlands
811
Introduction
813
Civil Remedies
817
Asset Tracing
822
AntiMoney Laundering Regulations
824
Bank Secrecy
826
Use of Information Obtained
832
Recognition and Enforcement of F…
833
Registration of Companies
836
International Insolvency Law
837
Helpful Addresses
840
New Zealand
841
Introduction
843
Criminal procedure
845
Civil Procedure PreTrial
857
Civil Procedure Some Substantiv…
872
Banking Secrecy
878
AntiMoney Laundering Regulations
879
Insolvency
884
Registration of Companies
886
Enforcement of Foreign Iugdments
887
Helpful Adresses
889
Nigeria
891
Criminal Proceedings
893
Local Rules on Asset Tracing
894
Specific Laws and Remedies to Be …
895
Registration of Companies
896
Rules on International Insolvenc…
897
Republic of Panama
899
Criminal Proceedings
901
Local Rules on Asset Tracing
905
AntiMoney Laundering Regulations
907
Rules on Disclosure
908
Use of Information Obtained
909
Registration of Companies
910
Rules on International Insolvenc…
919
Singapore
921
Introduction
923
Civil Remedies
924
Criminal Proceedings and Asset R…
927
Specific Laws on Asset Recovery
929
Rules on Discovery and Disclosure
931
Use of Information Obtained
932
Bank Secrecy
934
AntiMoney Laundering Regulations
936
Enforcement of Foreign Decisions…
939
Rules on International Insolvenc…
940
Registration of Companies
942
Helpful Addresses
944
Spain
945
Criminal Proceedings
947
Civil Remedies
948
Local Rules on Tracing of Assets
949
AntiMoney Laundering Regulations
950
Bank Secrecy
951
Rules on Disclosure
954
Registration of Companies
955
Rules on International Insolvenc…
956
Helpful Addresses
958
Switzerland
959
Introduction
961
Criminal Proceedings
962
Civil Remedies
976
Local Rules on Tracing of Assets
981
Enforcement of Foreign Decisions
986
Registration of Companies
995
Rules of Disclosure
1001
Rules on Recognition of Foreign …
1003
Helpful Addresses
1005
Uruguay
1007
Introduction
1009
The Use of Criminal Proceedings
1010
Civil Remedies
1012
Local Rules on Asset Tracing
1016
AntiMoney Laundering Regulations
1018
Bank Secrecy
1020
Use of Information Obtained
1022
Enforcement of Foreign Decisions…
1023
Registration of Companies
1028
Rules on International Insolvenc…
1029
United States of America
1033
Registration of Businesses in th…
1035
Civil Remedies
1039
Remedies and Causes of Action
1049
AntiMoney Laundering Regulations
1060
Bank Secrecy Act
1073
Tracing
1081
Enforcement of Foreign Country M…
1095
Utilizing Chapter 15 of the Unit…
1115
Harnessing U S Criminal Proceedi…
1133
Helpful Addresses
1144

HOW TO HAVE HONEST ELECTIONS?

18 Jan

Good enough?:

http://www.whatreallyhappened.com/WRHARTICLES/honestelections.php#axzz54ZlPF49o

“It is enough that the people know there was an election. The people who cast the votes decide nothing. The people who count the votes decide everything.” — Joseph Stalin

Following the Florida election debacle of 2000, Americans were promised a more honest, transparent, and verifiable system of elections. We didn’t get it, because the election stealers won that election and decided that keeping the current system was their best guarantee of re-election.

The election of 2016 changed that. The candidate being cheated by the system, Donald Trump, still prevailed thanks to a landslide that overcame the vote rigging. He will see having an honest election system as his best chance for a second term. Hence, there is a real opportunity to throw out the current system, whch is designed to enable and conceal stealing elections, and replace it with a system that hinders cheating as much as possible.

To begin, stolen elections are a reality in this nation. John F. Kennedy stole the 1960 election from Richard Nixon. Nixon stole his re-election in what became known as the Watergate scandal. George W. Bush likely stole the 2000 election from Al Gore, and everyone had a ring-side seat watching Hillary Clinton trying to steal the election from Donald Trump.

A good place to start to learn about election stealing is the HBO documentary, “Hacking Democracy.” It is available on NetFlix, Amazon Live, and Hulu. Here is a YouTube video of the final scenes showing how an electronic voting machine has the election results changed without even needing to touch the machine!

For more information, please visit http://blackboxvoting.org/, the website operated by Bev Harris, who is featured in the HBO documentary.

Now then, I wish to offer a suggestion for a very simple way to have a more open and honest election system. It is not 100% foolproof, but is designed to make it very difficult for cheating to happen and difficult to conceal it. This stands in sharp contrast to the current system, which is designed to facilitate and conceal the manipulation of elections.

The neccessity to overhaul our system goes beyond restoring Democracy in the United States. The 2016 election debacle has wrecked America’s image around the world. Restoration of honest elections will be the first step on the very long road back to being respected by other nations.

First, some basic rules.

1. No electronic machines!

2. No central tabulation centers!

Everyone who votes must have ID to prove they are a US citizen and eligable to vote. Absentee ballots are only given to those who can prove they are unable to vote in person.

After the voters vote, their finger is marked with ink that takes a week to fade away, to prevent them from voting more than once. For those concerned about hygiene, a spray could be used.

All voting is done on paper ballots. All ballot boxes are kept in the polling area where voters can see them, to avoid ballot box stuffing or swapping.

When the polls close, the precincts hand-count the ballots in full view of witnesses, and verify the accuracy. All paper ballots are to be stored for an entire year after the election.

The totals for that polling place are posted for all to see and copies provided to all witnesses.

In the city newspaper the next day, all the totals for all the city precincts are printed, along with totals for the city. This allows everyone to first verify that their precinct totals were reported accurately, and to verify the math leading to the city totals for themselves.

Now, we move up a level! The state newspapers print all the city totals, and again the totals for the state. This allows everyone to first verify that their city totals were reported accurately, and to verify the math leading to the state totals for themselves.

Final level: The national newspapers print all the state totals, and tally up the winners. This allows everyone to first verify that their state totals were reported accurately, and to verify the math leading to the national totals for themselves.

What this does is create a system where there are literally millions of Americans watching and verifying the vote counts from polling place to final totals. In essence, election verification is being crowdsourced. Yes, it is a bit slower than the instant-guessing on TV, but that will prevent the corporate media from using “projections” to try to discourage voters of unfavored candidates from heading to the polls. There is in fact no law that says the winners of the elections have to be announced immediately, and certainly most Americans are willing to trade speed for accuracy in such an important matter. In the early days of this nation, prior to the telegraph, it would take weeks for the populace to learn who won the elections!

As I said, this is not a 100% perfect system. It is only as good as the people running it. But it does make stealing elections very difficult and that should always be the design objective of any election system!

VOTE FRAUD FOUND IN ALL FIFTY STATES!
From The Horn News


The Heritage Foundation – Voter Fraud Database Tops 1,000 Proven Cases


Read more: www.whatreallyhappened.com http://www.whatreallyhappened.com/WRHARTICLES/honestelections.php#ixzz54ZnL8lvA

Amazon Customer Service needs Real Customer Service! How can Amazon be so valuable?

18 Jan

Hypothetically, let’s say that you bought $1,000 of shares in some of America’s best-known companies, right during these pre-crisis highs in October 2007.

Today’s chart from HowMuch.net shows how you would have fared based on share price alone, not including the re-investment of dividends. Each blue dot below shows the $1,000 investment, and each pink circle represents the value of that investment today.

Courtesy of: Visual Capitalist

America’s most valuable companies over the last 100 years

18 Jan

John d RockefellerJohn D. Rockefeller, founder of Standard Oil Wikimedia

  • The most valuable companies in the US have changed over time.
  • In 1917, big industrial concerns like US Steel and Standard Oil of New Jersey were among the top ten most valuable.
  • In 2017, mega-cap tech companies like Alphabet, Apple, and Facebook rule the day.

How much does the business world shift in a century?

Today’s visualization comes from HowMuch.net, and it uses Forbes data to show how the list of the top 10 companies in the U.S. has evolved over the last 100 years.

Courtesy of: Visual Capitalist

1917: The industrial era

In 1911, both John D. Rockefeller’s Standard Oil and J.P. Morgan’s U.S. Steel (which was formed from Andrew Carnegie’s steel company and others) were facing antitrust action.

Standard Oil, which controlled over 90% of all oil in the United States by 1900, got split up into 34 independent companies after a ruling by the Supreme Court. However, U.S. Steel, which controlled 67% of steel in the country, was able to weather the antitrust storm at the time.

In the chart showing data for 1917, you can see that U.S. Steel – which was considered the world’s first “billion dollar” company – reigned supreme in the U.S. based on the value of its assets. Meanwhile, Standard Oil of N.J. (a fragment of the Standard Oil breakup) was still able to finish in the third spot on the list.

1967: The hardware era

Fast forward 50 years, and oil is still big.

Standard Oil of N.J. (eventually to be re-named as Exxon Corp. in 1972) is the fifth biggest company in the country. Texaco and Gulf Oil, both of which later merged into Chevron (another Standard Oil offshoot) also make the top 10 in terms of market valuation.

Aside from energy, the 1967 list seems dominated by companies that make tangible things. IBM was making some of the first and most advanced computers, GM was the largest U.S. auto manufacturer, and both Kodak and Polaroid made cameras. General Electric, a conglomerate, made everything from computers to jet engines at this time.

2017: The platform era

Fast forward to now, and platforms like Facebook, Amazon, Google, Microsoft, and Apple have taken over.

We’ve shown how these five companies make their billions, and also how Facebook and Google are able to dominate global ad revenues through scale.

Meanwhile, many of the stalwarts from 1967 have fallen: Polaroid and Kodak both filed for bankruptcy, and Sears Canada filed for bankruptcy months ago. And of the big names from 1917, only AT&T remains of significance.

This raises the question: what will the next 50 years hold – and how many names from the 2017 list will remain?

Read the original article on Visual Capitalist. Get rich, visual content on business and investing for free at the Visual Capitalist website, or follow Visual Capitalist on Twitter, Facebook, or LinkedIn for the latest. Copyright 2017. Follow Visual Capitalist on Twitter.

Civil Rights — FBI

18 Jan

Filing a Complaint

To file a color of law complaint, contact your local FBI office by telephone, in writing, or in person. The following information should be provided:

  • All identifying information for the victim(s);
  • As much identifying information as possible regarding the subject(s), including position, rank, and agency employed;
  • Date and time of incident;
  • Location of incident;
  • Names, addresses, and telephone numbers of any witness(es);
  • A complete chronology of events; and
  • Any report numbers and charges with respect to the incident.

You may also contact the United States Attorney’s Office in your district or send a written complaint to:

Assistant Attorney General
Civil Rights Division
Criminal Section
950 Pennsylvania Avenue, Northwest
Washington, DC 20530

FBI investigations vary in length. Once our investigation is complete, we forward the findings to the U.S. Attorney’s Office within the local jurisdiction and to the U.S. Department of Justice in Washington, D.C., which decide whether or not to proceed toward prosecution and handle any prosecutions that follow.

 

Since its earliest days, the FBI has helped protect the civil rights of the American people. A dozen of its first 34 special agents, for example, were experts in peonage—the modern-day equivalent of slave labor. The Bureau began battling the KKK as early as 1918, and for years it handled color of law cases involving police brutality. Today, protecting civil rights remains one of its top priorities.

The FBI is the primary federal agency responsible for investigating allegations regarding violations of federal civil rights statutes. These laws are designed to protect the civil rights of all persons—citizens and non-citizens alike—within U.S. territory. Using its full suite of investigative and intelligence capabilities, the Bureau today works closely with its partners to prevent and address hate crime, human trafficking, color of law violations, and Freedom of Access to Clinic Entrances (FACE) Act violations.

The FBI has also established productive and meaningful liaison relationships with state and local law enforcement agencies, prosecutors, non-governmental organizations, and community and minority groups to improve reporting of civil rights violations, promote the benefits of sharing information and intelligence, and develop proactive strategies for identifying and addressing trends in this field.

Priority Issues

The FBI opens hundreds of civil rights cases each year, and it’s a responsibility the Bureau takes very seriously. The Civil Rights program is comprised of the following subprograms: Hate Crimes, Color of Law, Human Trafficking, and Freedom of Access to Clinic Entrances (FACE) Act.

Color of Law Violations

U.S. law enforcement officers and other officials like judges, prosecutors, and security guards have been given tremendous power by local, state, and federal government agencies—authority they must have to enforce the law and ensure justice in our country. These powers include the authority to detain and arrest suspects, to search and seize property, to bring criminal charges, to make rulings in court, and to use deadly force in certain situations.

Preventing abuse of this authority, however, is equally necessary to the health of our nation’s democracy. That’s why it’s a federal crime for anyone acting under “color of law” to willfully deprive or conspire to deprive a person of a right protected by the Constitution or U.S. law. “Color of law” simply means the person is using authority given to him or her by a local, state, or federal government agency.

The FBI is the lead federal agency for investigating color of law violations, which include acts carried out by government officials operating both within and beyond the limits of their lawful authority. Off-duty conduct may be covered if the perpetrator asserted his or her official status in some way. Those violations include the following acts:

Excessive force: In making arrests, maintaining order, and defending life, law enforcement officers are allowed to use whatever force is “reasonably” necessary. The breadth and scope of the use of force is vast—from just the physical presence of the officer…to the use of deadly force. Violations of federal law occur when it can be shown that the force used was willfully “unreasonable” or “excessive.”

Sexual assaults by officials acting under color of law can happen in jails, during traffic stops, or in other settings where officials might use their position of authority to coerce an individual into sexual compliance. The compliance is generally gained because of a threat of an official action against the person if he or she doesn’t comply.

False arrest and fabrication of evidence: The Fourth Amendment of the U.S. Constitution guarantees the right against unreasonable searches or seizures. A law enforcement official using authority provided under the color of law is allowed to stop individuals and, under certain circumstances, to search them and retain their property. It is in the abuse of that discretionary power—such as an unlawful detention or illegal confiscation of property—that a violation of a person’s civil rights may occur.

Fabricating evidence against or falsely arresting an individual also violates the color of law statute, taking away the person’s rights of due process and unreasonable seizure. In the case of deprivation of property, the color of law statute would be violated by unlawfully obtaining or maintaining a person’s property, which oversteps or misapplies the official’s authority.

The Fourteenth Amendment secures the right to due process; the Eighth Amendment prohibits the use of cruel and unusual punishment. During an arrest or detention, these rights can be violated by the use of force amounting to punishment (summary judgment). The person accused of a crime must be allowed the opportunity to have a trial and should not be subjected to punishment without having been afforded the opportunity of the legal process.

Failure to keep from harm: The public counts on its law enforcement officials to protect local communities. If it’s shown that an official willfully failed to keep an individual from harm, that official could be in violation of the color of law statute.

Filing a Complaint

To file a color of law complaint, contact your local FBI office by telephone, in writing, or in person. The following information should be provided:

  • All identifying information for the victim(s);
  • As much identifying information as possible regarding the subject(s), including position, rank, and agency employed;
  • Date and time of incident;
  • Location of incident;
  • Names, addresses, and telephone numbers of any witness(es);
  • A complete chronology of events; and
  • Any report numbers and charges with respect to the incident.

You may also contact the United States Attorney’s Office in your district or send a written complaint to:

Assistant Attorney General
Civil Rights Division
Criminal Section
950 Pennsylvania Avenue, Northwest
Washington, DC 20530

FBI investigations vary in length. Once our investigation is complete, we forward the findings to the U.S. Attorney’s Office within the local jurisdiction and to the U.S. Department of Justice in Washington, D.C., which decide whether or not to proceed toward prosecution and handle any prosecutions that follow.

Civil Applications

While the FBI does not investigate civil violations, Title 42, U.S.C., Section 14141 makes it unlawful for state or local law enforcement agencies to allow officers to engage in a pattern or practice of conduct that deprives persons of rights protected by the Constitution or U.S. laws. This law, commonly referred to as the Police Misconduct Statute, gives the Department of Justice authority to seek civil remedies in cases where law enforcement agencies have policies or practices that foster a pattern of misconduct by employees. This action is directed against an agency, not against individual officers. The types of issues which may initiate a pattern and practice investigation include:

  • Lack of supervision/monitoring of officers’ actions;
  • Lack of justification or reporting by officers on incidents involving the use of force;
  • Lack of, or improper training of, officers; and
  • Citizen complaint processes that treat complainants as adversaries.

Under Title 42, U.S.C., Section 1997, the Department of Justice has the ability to initiate civil actions against mental hospitals, retardation facilities, jails, prisons, nursing homes, and juvenile detention facilities when there are allegations of systemic derivations of the constitutional rights of institutionalized persons.

Freedom of Access to Clinic Entrances (FACE) Act Violations

Violations Beginning in the mid-1980s, the United States witnessed a dramatic escalation in the number of acts of violence and harassment directed towards reproductive health care providers and clinics. These incidents, typically in the form of blockades, arson, use of chemical irritants, bomb threats, death threats, stalking, and vandalism, continued well into the next decade. In 1993, the first murder of a reproductive health care provider occurred. Dr. David Gunn, a physician who provided abortion services, was murdered during an anti-abortion protest at a clinic in Pensacola, Florida.

In response to the alarming trend of increasing violence, the U.S. Congress enacted the Freedom of Access to Clinic Entrances (FACE) Act, Title 18 U.S.C. Section 248, in 1994. Often referred to by its acronym, the FACE Act makes it a federal crime to injure, intimidate, or interfere with those seeking to obtain or provide reproductive health care services – including through assault, murder, burglary, physical blockade, and making threatening phone calls and mailings. This law also prohibits damaging or destroying any facility because reproductive health services are provided within.

Since the passage of the FACE Act, the number of violent crimes committed against reproductive health care providers and facilities has dramatically decreased. The FBI and its local, state, tribal, and federal law enforcement partners aggressively pursue all violations of the statute for eventual prosecution by local United States Attorney’s Offices and/or the Department of Justice Civil Rights Division in Washington, D.C.

In addition to the FACE Act, other frequently considered federal statutes in FACE Act investigations include: Arson or Bombing, Title 18 U.S.C. Section 844(h); Mail Threats/Threatening Communications, Title 18 U.S.C. Section 875(c); Interstate Threats, Title 18 U.S.C. Section 876(c); and Use of Firearm During the Commission of a Federal Violation, Title 18 U.S.C. Section 924(c). Violators of the FACE Act are subject to criminal penalties, including imprisonment and fines. The severity of the punishment demands upon the nature of the offense and whether or not the person who committed the crime is a repeat offender.

It should be noted the FACE Act does not criminalize the lawful exercise of one’s constitutional rights. For instance, it is not a violation to protest peacefully outside of a reproductive health care facility, including such actions as carrying signs, chanting, singing hymns, distributing literature, and shouting as part of First Amendment protected activities – as long as no threats are communicated and facility access is in no way impeded.

International Human Rights Violations

The FBI, through its International Human Rights Unit, plays a vital role in the U.S. government’s coordinated efforts to identify, locate, investigate, and prosecute perpetrators of genocide, war crimes, and other related mass atrocities.

You can help.

The FBI seeks information from diaspora members, refugees, and asylum seekers here in the U.S. with knowledge of human rights violations committed abroad.

If you have any information about perpetrators of genocide, war crimes, or other related mass atrocities, please submit it to us attips.fbi.gov or contact your local FBI office, domestically or internationally.

Genocide and war crimes are a continuing tragic reality for our world and an investigative priority for the FBI.

Prevent White-Collar Crime!

18 Jan

 

White-Collar Crime

Reportedly coined in 1939, the term white-collar crime is now synonymous with the full range of frauds committed by business and government professionals. These crimes are characterized by deceit, concealment, or violation of trust and are not dependent on the application or threat of physical force or violence. The motivation behind these crimes is financial—to obtain or avoid losing money, property, or services or to secure a personal or business advantage.

These are not victimless crimes. A single scam can destroy a company, devastate families by wiping out their life savings, or cost investors billions of dollars (or even all three). Today’s fraud schemes are more sophisticated than ever, and the FBI is dedicated to using its skills to track down the culprits and stop scams before they start.

The FBI’s white-collar crime work integrates the analysis of intelligence with its investigations of criminal activities such as public corruption, money laundering, corporate fraud, securities and commodities fraud, mortgage fraud, financial institution fraud, bank fraud and embezzlement, fraud against the government, election law violations, mass marketing fraud, and health care fraud. The FBI generally focuses on complex investigations—often with a nexus to organized crime activities—that are international, national, or regional in scope and where the FBI can bring to bear unique expertise or capabilities that increase the likelihood of successful investigations.

FBI special agents work closely with partner law enforcement and regulatory agencies such as the Securities and Exchange Commission, the Internal Revenue Service, the U.S. Postal Inspection Service, the Commodity Futures Trading Commission, and the Treasury Department’s Financial Crimes Enforcement Network, among others, targeting sophisticated, multi-layered fraud cases that harm the economy.

Major Threats & Programs

Corporate Fraud

Corporate fraud continues to be one of the FBI’s highest criminal priorities—in addition to causing significant financial losses to investors, corporate fraud has the potential to cause immeasurable damage to the U.S. economy and investor confidence. As the lead agency investigating corporate fraud, the Bureau focuses its efforts on cases that involve accounting schemes, self-dealing by corporate executives, and obstruction of justice.

The majority of corporate fraud cases pursued by the FBI involve accounting schemes designed to deceive investors, auditors, and analysts about the true financial condition of a corporation or business entity. Through the manipulation of financial data, the share price, or other valuation measurements of a corporation, financial performance may remain artificially inflated based on fictitious performance indicators provided to the investing public.

The FBI’s corporate fraud investigations primarily focus on the following activities:

Falsification of financial information

  • False accounting entries and/or misrepresentations of financial condition;
  • Fraudulent trades designed to inflate profits or hide losses; and
  • Illicit transactions designed to evade regulatory oversight.

Self-dealing by corporate insiders

  • Insider trading (trading based on material, non-public information);
    Kickbacks;
  • Misuse of corporate property for personal gain; and
  • Individual tax violations related to self-dealing.

Fraud in connection with an otherwise legitimately operated mutual hedge fund

  • Late trading;
  • Certain market timing schemes; and
  • Falsification of net asset values.

Obstruction of justice designed to conceal any of the above-noted types of criminal conduct, particularly when the obstruction impedes the inquiries of the U.S. Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), other regulatory agencies, and/or law enforcement agencies.

The FBI has formed partnerships with numerous agencies to capitalize on their experience in specific areas such as securities, taxes, pensions, energy, and commodities. The Bureau has placed greater emphasis on investigating allegations of these frauds by working closely with the SEC, CFTC, Financial Industry Regulatory Authority, Internal Revenue Service, Department of Labor, Federal Energy Regulatory Commission, and the U.S. Postal Inspection Service.

Money Laundering

Money laundering is the process by which criminals conceal or disguise their proceeds andStock image of a glass globe atop a trail of money. make them appear to have come from legitimate sources.

Money laundering allows criminals to hide and accumulate wealth, avoid prosecution, evade taxes, increase profits through reinvestment, and fund further criminal activity.

While many definitions for money laundering exist, it can be defined very simply as turning “dirty” money into “clean” money. And it’s a significant crime—money laundering can undermine the integrity and stability of financial institutions and systems, discourage foreign investment, and distort international capital flows.

The FBI focuses its efforts on money laundering facilitation, targeting professional money launderers, key facilitators, gatekeepers, and complicit financial institutions, among others.

Money laundering is usually associated with crimes that provide a financial gain, and criminals who engage in money laundering derive their proceeds in many ways. Some of their crimes include:

  • Complex financial crimes
  • Health care fraud
  • Human trafficking
  • International and domestic public corruption
  • Narcotics trafficking
  • Terrorism

The number and variety of methods used by criminals to launder money makes it difficult to provide a complete listing, but here are a few of the ways through which criminals launder their illicit proceeds:

  • Financial institutions
  • International trade
  • Precious metals
  • Real estate
  • Third party service providers
  • Virtual currency

There are three steps in the money laundering process—placement, layering, and integration. Placement represents the initial entry of the criminal’s proceeds into the financial system. Layering is the most complex and often entails the international movement of funds. Layering separates the criminal’s proceeds from their original source and creates a complex audit trail through a series of financial transactions. And integration occurs when the criminal’s proceeds are returned to the criminal from what appear to be legitimate sources.

Detection and Deterrence

Money laundering is a massive and evolving challenge that requires collaboration on every level. The FBI regularly coordinates with:

  • Other federal, state, and local law enforcement agencies to detect and deter the money laundering threat in the U.S.;
  • Our international partners to help address the increasingly complex global financial system, the cross-border nature of many financial transactions, and the increased sophistication of many money laundering operations; and
  • All aspects of industry touched by the money laundering efforts of criminals.

Securities and Commodities Fraud

The continuing integration of global capital markets has created unprecedented opportunities for U.S. businesses to access capital and investors to diversify their portfolios. Whether through individual brokerage accounts, college savings plans, or retirement accounts, more and more Americans are choosing to invest in the U.S. securities and commodities markets. This growth has led to a corresponding rise in the amount of fraud and misconduct seen in these markets. The creation of complex investment vehicles and the tremendous increase in the amount of money being invested have created greater opportunities for individuals and businesses to perpetrate fraudulent investment schemes.

The following are the most prevalent types of securities and commodities fraud schemes:

  • Investment fraud: These schemes—sometimes referred to as “high-yield investment fraud”—involve the illegal sale or purported sale of financial instruments. The typical investment fraud schemes are characterized by offers of low- or no-risk investments, guaranteed returns, overly-consistent returns, complex strategies, or unregistered securities. These schemes often seek to victimize affinity groups—such as groups with a common religion or ethnicity—to utilize the common interests to build trust to effectively operate the investment fraud against them. The perpetrators range from professional investment advisers to persons trusted and interacted with daily, such as a neighbor or sports coach. The fraudster’s ability to foster trust makes these schemes so successful. Investors should use scrutiny and gather as much information as possible before entering into any new investment opportunities. Here are some examples of the most common types of investment fraud schemes:
    • Ponzi schemes: These schemes involve the payment of purported returns to existing investors from funds contributed by new investors. Ponzi schemes often share common Stock image.characteristics, such as offering overly consistent returns, unregistered investments, high returns with little or no risk, or secretive or complex strategies.
    • Pyramid schemes: In these schemes, as in Ponzi schemes, money collected from new participants is paid to earlier participants. In pyramid schemes, however, participants receive commissions for recruiting new participants into the scheme. Pyramid schemes are frequently disguised as multi-level marketing programs.
    • Prime bank investment fraud/trading program fraud: In these schemes, perpetrators claim to have access to a secret trading program endorsed by large financial institutions such as the Federal Reserve Bank, Treasury Department, World Bank, International Monetary Fund, etc. Victims are often drawn into prime bank investment frauds because the criminals use sophisticated terms and legal-looking documents, and also claim that the investments are insured against loss.
    • Advance fee fraud: Advance fee schemes require victims to pay upfront fees in the hope of realizing much larger gains. Typically, victims are told that in order to participate in a lucrative investment program or receive the prize from a lottery/sweepstakes, they must first send funds to cover a cost, often disguised as a tax or participation fee. After the first payment, the perpetrator will request additional funds for other “unanticipated” costs.
  • Promissory note fraud: These are generally short-term debt instruments issued by little-known or nonexistent companies. The notes typically promise a high rate of return with little or no risk. Fraudsters may use promissory notes in an effort to avoid regulatory scrutiny; however, most promissory notes are securities and need to be registered with the Securities and Exchange Commission and the states in which they are being sold.
  • Commodities fraud: Commodities fraud is the illegal sale or purported sale of raw materials or semi-finished goods that are relatively uniform in nature and are sold on an exchange (e.g., gold, pork bellies, orange juice, and coffee). The perpetrators of commodities fraud entice investors through false claims and high-pressure sales tactics. Often in these frauds, the perpetrators create artificial account statements that reflect purported investments when, in reality, no such investments have been made. Instead, the money has been diverted for the perpetrators’ use. Additionally, they may trade excessively merely to generate commissions for themselves (known as “churning”). Two common types of commodities fraud include investments in the foreign currency exchange (Forex) and into precious metals (e.g., gold and silver).
  • Broker embezzlement: These schemes involve illicit and unauthorized actions by brokers to steal directly from their clients. Such schemes may be facilitated by the forging of client documents, doctoring of account statements, unauthorized trading/funds transfer activities, or other conduct in breach of the broker’s fiduciary responsibilities to the victim client.
  • Market manipulation: These “pump and dump” schemes are based on the manipulation of lower-volume stocks on small over-the-counter markets. The basic goal of market manipulation frauds is to artificially inflate the price of the penny stocks so that the conspirators can sell their shares at a large profit. The “pump” involves recruiting unwitting investors through false or deceptive sales practices, public information, or corporate filings. Many of these schemes use boiler room methods where brokers—who are bribed by the conspirators—use high pressure sale tactics to increase the number of investors and, as a result, raise the price of the stock. Once the target price is achieved, the perpetrators “dump” their shares at a huge profit and leave innocent investors to foot the bill.

The FBI anticipates that the variety of securities and commodities fraud schemes will continue to grow as investors remain susceptible to the uncertainty of the global economy. To investigate and help prevent fraudulent activity in the financial markets, the Bureau continues to work closely with various governmental and private entities. For example:

  • FBI field offices operate task forces and working groups with other law enforcement and regulatory agencies, including, the Securities and Exchange Commission, U.S. Attorney’s Offices, Commodity Futures Trading Commission, Financial Industry Regulatory Authority, U.S. Postal Inspection Service, and the Internal Revenue Service;
  • And nationally, the FBI participates in several working groups and task forces such as the Financial Fraud Enforcement Task Force, which coordinates the efforts of the Department of Justice at all levels of government to disrupt and dismantle significant large-scale criminal enterprises.

THE TOP 5 CYBERCRIMES

18 Jan

American Institute of CPAs

There is no doubt today that virtual environments have introduced new levels of
efficiency, connectivity and productivity to businesses of all types the world over.
However, along with these undisputed benefits has come an equally real and serious
threat that each year results in hundreds of millions of dollars in measurable and
unmeasurable losses to businesses — aggressive invasions by criminals into a
business’s virtual environment.
Among the victims of these cybercrimes are CPAs in public practice and their clients
as well as CPAs and the entities they serve in business and industry. The prevalence of
cybercrime, and the escalating fervor and inventiveness of perpetrators, have led to a
harsh reality: it is not a matter of if CPAs, their clients or their organizations will become
a victim, but when.
In the midst of such a demonstrated, multi-faceted threat, CPAs have a pressing need for
resources and straightforward strategies that can help them avoid the risk of cybercrime,
detect and recover from these crimes when they occur, and safeguard the interests of
their firm, clients and organization.
The Top 5 Cybercrimes is among the resources that the AICPA offers to assist CPAs in
addressing cybercrime. It identifies not only the top five cybercrimes that are of greatest
concern to CPAs but also the nature of each crime, the manner in which it is committed
and remedial steps that can be taken.
The top five cybercrimes being discussed are:
1. Tax-refund fraud
2. Corporate account takeover
3. Identity theft
4. Theft of sensitive data
5. Theft of intellectual property

 

RESOURCES
AICPA
• AICPA Privacy Principles Scoreboard. A downloadable
software tool that can help both organizations
and CPA firms establish programs addressing the
collection, usage, retention and disclosure of customer
and employee personally identifiable information.
Organizations can use the Scoreboard, which is based
on the Generally Accepted Privacy Principles (GAPP)
framework, internally, and CPAs in public accounting
can use it to assess privacy risk and program maturity in
client engagements. The Scoreboard can also be used
when examining and reporting on a service organization’s
internal privacy controls.
• Journal of Accountancy. The flagship publication of the
American Institute of CPAs (AICPA) has been published
continuously since 1905. journalofaccountancy.com
• Complete Guide to the CITP Body of Knowledge.
A comprehensive review of how to use information
technology to effectively manage financial information
and help prepare for the Certified Information
Technology Professional (CITP®
available for this self-study course.
) Exam. CPE credit is
• Cybersecurity webcast series (archived). An eight-week
series available to Information Management and
Technology Assurance (IMTA) and Forensic and
Valuation Services (FVS) section members. It provides
an expansive overview of cybersecurity.
• Information Management and Technology Assurance
(IMTA) Section. An AICPA membership section offering
tools and networking opportunities that help CPAs
increase efficiency and boost profits through technology
in areas ranging from information assurance, internal
controls and business process improvement to data
analytics and enhanced business reporting.
• Forensic and Valuation Services (FVS) Section. An AICPA
membership section offering tools, publications and
networking opportunities that help CPAs who provide
forensic and valuation services position their practice for
growth and profitability.
CYBERSECURITY/CYBERCRIME ORGANIZATIONS
• Cybersource Corporation is a worldwide eCommerce
payment-management company. It also publishes
annual statistics-based online fraud reports.
cybersource.com
• Ponemon Institute conducts independent research on
privacy, data protection and information security policy.
It has one of the best cybercrime studies — its annual
Cost of Cyber Crime Study. ponemon.org
• SANS Institute has a global scope, with a focus on
information security (InfoSec). It has a certification,
Global Information Assurance Certification (GIAC),
related to InfoSec. SANS’s services and resources are
generally free to the public. sans.org
• Computer Emergency Response Team (CERT) is a
partnership between Homeland Security and public
and private sectors with the objective of coordinating
responses to security threats. cert.org
• Computer Security Institute (CSI), for information
security professionals, provides an annual survey of
cybercrime, CSI Computer Crime & Security Survey,
since about 1999. gocsi.com
FEDERAL GOVERNMENT AGENCIES AND FEDERAL/
PUBLIC PARTNERSHIPS
• FinCEN — The Financial Crimes Enforcement Network,
U.S. Department of the Treasury, fincen.gov
• FinCEN, The SAR Activity Review — By the Numbers,
Issue 17, May 2012
• IC3 is the Internet Crime Complaint Center, sponsored
by the National White Collar Crime Center, the Bureau
of Justice Assistance and the FBI. It accepts complaints
from the public regarding Internet-related crimes and
scams. ic3.gov

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