Abstract: This chapter focuses on identification of fraud opportunities specific to individual industries and designing industry-specific effective control mechanisms. Variations of banking frauds are money laundering, check fraud, card fraud, wire fraud, and online fraud. Online banking fraud can be eliminated by employing a combination of preventive controls and detective controls. The internal control, policies, programs and procedures, help combat money laundering. Frauds related to healthcare funds are largely in the form of false claims. Such frauds can be persecuted under False Claims Act. There is also the Anti-Kickback Statute that prohibits bribery and kickbacks in any form whether directly or indirectly offered or received for providing services or items or for referral of patients to providers of services. Insurance frauds are dealt by certified insurance fraud investigators. The most common fraud is Tax fraud. Indirect tax fraud is detectible by means of contra trading. Social security fraud is usually found in terms of identity thefts and false claims. The chapter also covers frauds related to construction.
Publication Year: 2012
Publication Date: 2012-01-02
Language: en
Type: other
Indexed In: ['crossref']
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