Famous Fraud Cases
A US energy, commodities, and services company based in Houston, Texas, with one of history's most controversial accounting scandals.
What is Enron?
It was discovered in 2001 that the company had been using accounting loopholes to hide billions of dollars of bad debt, while simultaneously inflating the company’s earnings
Forcibly using someone else's personal information for financial gain.
What is Identity Theft?
This framework is commonly used in auditing to explain the reason behind an individual's decision to commit fraud.
Also if don't know the name of the framework, name at least one of the main components that may contribute to increasing the risk of fraud.
What is a Fraud Triangle
Pressure, Opportunity, and Rationalization
This complicated plot between two professional grifters to con a mob boss won 7 Oscars in the '70s.
What is "The Sting"?
A Brazilian construction company that participated in an international bribery case that was also embroiled in the "Car Wash" scandal (also known as "Lavajato")
What is Odebrecht?
...which also forced the president of Peru to resign
The fraudulent act of taking someone else’s property that was entrusted.
What is Embezzlement?
This diagram helps explain any type of fraud we may find in a corporation.
What is the Fraud Tree?
Name of the crisis that was depicted by the end of the movie "The Big Short". The film was directed and written by Adam McKay
What is... Subprime Mortgage Crisis, also Global Financial Crisis (GFS), also Housing Bubble, also Great Recession
Name of the scandal about published leaked documents from a "Tax-heaven" that revealed corruption in many countries
What is Panama Papers?
To promise investors high returns and then use the money from new investors to pay the returns of existing investors.
What is a Ponzi scheme?
This are the top 3 branches from the Fraud Tree
What are... ?
1) Asset Misappropriation
2) Corruption, and
3) Financial Statement Fraud
So… this Oscar-nominated movie, which is about a fraud scandal is related to a real scandal because one of the producers was an independent company apparently financed with sovereign wealth funds from an Asian country without authorization.
What is "The Wolf of Wall Street"?
A US multinational insurance firm whose CEO was found guilty of manipulating stock prices.
What is AIG?
The company had booked loans as revenue in its books and also forced clients to use insurers with whom the company had pre-existing payoff agreements.
In this scam, they usually send emails or pop-up messages that might alert you to a problem with any private account or state that you have a refund waiting. Some of these messages appear to come from legitimate companies.
What is Phishing?
This are the 2 categories of fraud (taking into account "where did the fraud came from").
What are...?
1) Internal, and
2) External.
(*) There is a third option of a mixture of both
The name of the crime that Charlie Sheen (as Bud Fox) in "Wall Street" was committing by telling "things" to Gordon Gekko.
What is Insider Trading?
A relatively recent scandal from Payment Processor and Financial Services company based in Munich.
What is Wirecard?
It is the most significant fraud case in German history
This scheme occurs when the victim pays money to someone hoping to receive something of more excellent value.
What is an Advance-Fee Scam?
Also known as "The Nigerian Prince Scam", or "The Spanish Prisoner Scam"
Number of times the word "fraud" appears in the IIA Standards (We didn't count the words from the Glossary at the end).
What is 7?
Name of the character played by Leonardo Di Caprio from the movie "Catch me if you can".
What is Frank (Abagnale) Jr.?