Essays on Bartow

Company and Situation

According to Cadieux (2010) the worst recession since the 1930s started at the end of 2007 and was at its peak by the fall of 2008. Several businesses were shattered are some were facing serious economic challenges because of the financial crisis. Government offered various bailed out packages to save financial institutions from huge loss. The packages were offered by providing loans, equity, and guarantees. Goldman Sachs was one of the companies that suffered a great loss. Goldman Sachs is an American financial institution that provides financial services to its clients globally. Goldman Sachs took part in cheap credit ...

Project Name

Introduction According to Biegelman and Bartow (2012), business entities after the Great Depression have streamlined their efforts towards identification and seizure of any potential business opportunity in a bid to emerge stronger and resilient. Some employees in these companies have however opted to engage in some fraudulent activities and this has stimulated the regulation authorities to beef up their investigations and enforcement mechanisms to curb the increasing rates of corporate fraud cases. Adelphia Communications Corporation was a successful business in the US founded by John Rigas, a son to a Greek immigrant. He was assisted by his two sons ...

Company and situation

According to Biegelman and Bartow (2012), WorldCom Group began in 1983 following the breakup of AT&T. It began as Long Distance Discount Services (LDDS) offering telecommunication services to local retail and commercial customers in the Southern States where the two major telecommunication companies – Sprint and MCI had little presence. The company grew by acquiring other companies and in 1993 it was declared the fourth largest long distance carrier in the US (Biegelman & Bartow, 2012). It was officially renamed WorldCom in 1995 and continued a period of great acquisitions of more than 60 companies. However, between 1999 and 2002, the ...

EVALUATING SECURITY BREACHES

Legally, fraud is described as the misrepresentation of facts using words or by conduct or by concealment of what should have been disclosed that is intended to deceive a person so that the individual will act to their own injury. Commonly fraud is said to be the act of depriving a person of something by deceit involving misuse of funds or other resources or misappropriation of information. It is characterized by dishonest behaviors such as corruption, bribery, collusion, forgery, false representation, deception and concealment of information. Fraud typically costs the typical U.S. Company 6% of its annual revenues. This translates to ...

LOSS PREVENTION POLICIES

Internal fraud is expensive running into hundreds of thousands of dollars in loss annually. It is mostly perpetrated mostly by the upper level management employees who have access to the company’s assets. Just to show how expensive fraud is, according to the Association of Certified Fraud Examiners, it is estimated that $660 billion is stolen annually by employees in the United States (Wells, 2011, p. 48). With these huge figures it is important for companies to invest in a comprehensive fraud prevention plan. A good comprehensive fraud prevention plan should encompass three main areas which are education (anti-fraud training ...