Understanding Financial Frauds And Scams

Readers get a view behind the gilded doors which will reveal the inner workings of pyramid and Ponzi schemes, telemarketing scams, identity theft, creative accounting, phishing, and other large-scale frauds and scams that impact not only big money investors but cost ordinary working citizens as well. Intriguing historical and current examples of institutional ruinous shell games include Madoff, WorldCom, Enron, and Jon Corzine's MF Global. Most importantly, this book also offers readers expert advice on how to avoid some of the more common frauds perpetrated on consumers and individual investors. A fascinating account of billionaire crooks and their con games, a sobering account of bankrupt victims, and a cautionary tale for all ordinary consumers and investors bring reality to this array of scams. This book captures the full folly, danger, and tragedy of financial frauds and scams. Readers will be fully engaged and encouraged to participate in discussion with 10 Great Questions to Ask an Economics/Finance Teacher and Myths & Facts.

Black money and financial crime are emerging global phenomena. During the last few decades, corrupt financial practices were increasingly being monitored in many countries around the globe. Among a large number of problems is a lack of general awareness about all these issues among various stakeholders including researchers and practitioners. The Handbook of Research on Theory and Practice of Financial Crimes is a critical scholarly research publication that provides comprehensive research on all aspects of black money and financial crime in individual, organizational, and societal experiences. The book further examines the implications of white-collar crime and practices to enhance forensic audits on financial fraud and the effects on tax enforcement. Featuring a wide range of topics such as ethical leadership, cybercrime, and blockchain, this book is ideal for policymakers, academicians, business professionals, managers, IT specialists, researchers, and students.

"Insights into Financial Frauds and Scams" delves deep into the intricate web of financial malfeasance, offering a comprehensive exploration of deceptive practices that plague markets worldwide. From the fundamental concepts in Chapter 1, which illuminate the landscape of financial fraud, to the insidious mechanisms of insider trading, securities fraud, and market manipulation detailed in subsequent chapters, this book provides invaluable insights into various forms of financial deceit. With discussions on pyramid schemes, Ponzi schemes, identity theft, cybersecurity breaches, and regulatory challenges, readers gain a nuanced understanding of the multifaceted nature of financial fraud. Moreover, practical guidance in the concluding chapters equips investors with strategies to safeguard their assets. An indispensable resource for anyone navigating the complex terrain of finance, this book serves as a beacon of awareness and empowerment in the fight against financial fraud.

The Canadian edition of The Little Black Book of Scams is a compact and easy to use reference guide filled with information Canadians can use to protect themselves against a variety of common scams. It debunks common myths about scams, provides contact information for reporting a scam to the correct authority, and offers a step-by-step guide for scam victims to reduce their losses and avoid becoming repeat victims. Consumers and businesses can consult The Little Black Book of Scams to avoid falling victim to social media and mobile phone scams, fake charities and lotteries, dating and romance scams, and many other schemes used to defraud Canadians of their money and personal information.

Learn financial and business lessons from some of the biggest frauds in history Why does financial fraud persist? History is full of sensational financial frauds and scams. Enron was forced to declare bankruptcy after allegations of massive accounting fraud, wiping out $78 billion in stock market value. Bernie Madoff, the largest individual fraudster in history, built a $65 billion Ponzi scheme that ultimately resulted in his being sentenced to 150 years in prison. People from all walks of life have been scammed out of their money: French and British nobility looking to get rich quickly, farmers looking for a miracle cure for their health ailments, several professional athletes, and some of Hollywood’s biggest stars. No one is immune from getting deceived when money is involved. Don’t Fall For It is a fascinating look into some of the biggest financial frauds and scams ever. This compelling book explores specific instances of financial fraud as well as some of the most successful charlatans and hucksters of all-time. Sharing lessons that apply to business, money management, and investing, author Ben Carlson answers questions such as: Why do even the most intelligent among us get taken advantage of in financial scams? What make fraudsters successful? Why is it often harder to stay rich than to get rich? Each chapter in examines different frauds, perpetrators, or victims of scams. These real-life stories include anecdotes about how these frauds were carried out and discussions of what can be learned from these events. This engaging book: Explores the business and financial lessons drawn from some of history’s biggest frauds Describes the conditions under which fraud tends to work best Explains how people can avoid being scammed out of their money Suggests practical steps to reduce financial fraud in the future Don’t Fall For It: A Short History of Financial Scams is filled with engrossing real-life stories and valuable insights, written for finance professionals, investors, and general interest readers alike.

Valuable guidance for staying one step ahead of financial statement fraud Financial statement fraud is one of the most costly types of fraud and can have a direct financial impact on businesses and individuals, as well as harm investor confidence in the markets. While publications exist on financial statement fraud and roles and responsibilities within companies, there is a need for a practical guide on the different schemes that are used and detection guidance for these schemes. Financial Statement Fraud: Strategies for Detection and Investigation fills that need. Describes every major and emerging type of financial statement fraud, using real-life cases to illustrate the schemes Explains the underlying accounting principles, citing both U.S. GAAP and IFRS that are violated when fraud is perpetrated Provides numerous ratios, red flags, and other techniques useful in detecting financial statement fraud schemes Accompanying website provides full-text copies of documents filed in connection with the cases that are cited as examples in the book, allowing the reader to explore details of each case further Straightforward and insightful, Financial Statement Fraud provides comprehensive coverage on the different ways financial statement fraud is perpetrated, including those that capitalize on the most recent accounting standards developments, such as fair value issues.

"Understanding Financial Fraud's Impact on Victims" delves deep into the multifaceted repercussions of financial fraud, offering a comprehensive examination across nineteen insightful chapters. From dissecting various fraud types like Pyramid Schemes to discussing the emotional turmoil victims endure, each chapter meticulously dissects the mechanics, consequences, and recovery challenges associated with financial fraud. It illuminates the devastating effects on victims' financial stability, mental health, relationships, and trust in institutions. From the stigma of victimhood to the complexities of legal battles, the book navigates through the intricate web of challenges victims face. Yet, it also offers a beacon of hope, emphasizing coping mechanisms, the importance of financial literacy, and the resilience needed to rebuild lives shattered by fraud. With a global perspective and a call for policy reforms, this book serves as both a scholarly resource and a guiding light for those navigating the aftermath of financial fraud.

"This guide is for seniors, their family members, care-givers, friends, and anyone else who may find it useful. It is not meant to include everything but tries to answer some common concerns when it comes to seniors' safety and security. The goal is to raise awareness of seniors' safety issues to improve their quality of life. The information in this guide can also be used to help people and their loved ones discuss this topic to help recognize a potential crime situation and show how to reduce or remove the risk"--Page 2.