How to avoid tax scams MSN Money Password-protect your computer, especially if you're using a laptop or if people frequently come and go from your home , and encrypt sensitive files (especially your tax files). 4. Be careful with your Internet connection, too. Don't work on your taxes … and more
Money Talks: Top 5 Complaints KGBT-TV If you work hard for your money, you certainly don't need to lose it to a scam . That's why the FTC publishes a list of top sources of consumer complaints every year. Know what's on it and you might avoid becoming a victim. … and more
Struggling to pay the mortgage on your house? Watch out for these 3 types of mortgage scams , designed by the cons artists to steal your money or your home. … Housing Market Cools, More People Will Look To Buying Foreclosures · Watch Out For Economic Stimulus Rebate Scams · Watch Out For Holiday Scams and Scam Artists · Top 5 Student Financial Aid Scams & Fraud to Watch Out for · Fannie Mae’s Know Your Options – Get Mortgage Help & Learn How to Avoid Foreclosure …
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» 3 Types of Mortgage & Housing Scams to Watch Out for
Job.com Feds crack down on employment scams Job.com Federal agencies are targeting a number of scam operations that they believe prey on jobless Americans' desperation by offering them work at home schemes, access to supposedly hidden job listings and other too-good-to-be-true opportunities that require … The Cruelest Scam : How One Guy Got Taken CBS MoneyWatch.com (blog) all 2 news articles
Koch Brothers and Wall Street buy governors, as well as Supreme Court Justices Tucson Citizen Billionaire Brothers' Money Plays Role in Wisconsin Dispute from the New York Times may belong in the “duh” category, but I think it worthwhile to note the connection between billionaire right-wing philanthropists Charles G. and David Koch, Wall Street … and more
W.C. Varones Matt Taibbi on the Wall Street – Washington kleptocracy W.C. Varones Taxpayer-funded massages for every Wall Street executive guilty of fraud ? Taibbi is a lefty, but he absolutely gets this like few commentators anywhere on the political spectrum. His conclusion: The mental stumbling block, for most Americans, … All Together Now: How Wall Street and Washington Keep Bankers Out of Jail CBS MoneyWatch.com (blog) Taibbi on Why No One on Wall Street Goes to Jail Roubini.com (subscription) all 8 news articles
Critics: Goldman should give back $2.9 billion to taxpayers MiamiHerald.com WASHINGTON — Irked that Goldman Sachs appears to have reaped a $2.9 billion taxpayer-aided windfall on an investment of a mere $20 million, some experts and watchdogs say the Wall Street giant should return the money to the US Treasury. … Critics: Goldman should give back $2.9 billion to taxpayers Fresno Bee all 20 news articles
Via email, reader Denis wonders “Where did the Money go?” Hello Mish I read many times on your blog how bubbles created by the Fed led to the overpricing of assets such as real estate and stocks. Someone paid those overpriced valuations. So, where is the money? At some point will that money be used to mitigate the economic doom? Denis Illusion of Wealth Let’s take a look at a real estate example, then the stock market. Please consider home ownership rates. In 2002 …
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Money Heaven
Moviehole Michael Douglas Moviehole Reprising his iconic, Oscar winning role as Gordon Gekko, Michael Douglas is back in Oliver Stone's “ Wall Street : Money Never Sleeps”. … and more
BOSTON (MarketWatch) — Shares of Fannie Mae and Freddie Mac fell sharply late Friday afternoon after CNBC reported the Treasury Department is set to announce an overhaul of the mortgage giants that were placed into government conservatorship in the credit crisis. …. On Baseball: Saying It’s Time, but Sounding Less Certain · Your Money: The Gamble Of Lending Peer to Peer · Ex NFL Wife Accused of Insurance Scam · BofA creates new unit, names foreclosure czar …
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Fannie, Freddie shares hit late Friday : Cash Advance Loans
RantRave | Published Opinion. Blogging to Make Money Online and Avoiding Internet Scams RantRave | Published Opinion. It can be a great way to make money online, from your own home . There is no restriction on what type of blog you can do, but you should be aware that there …
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Blogging to Make Money Online and Avoiding Internet Scams – RantRave | Published Opinion.
One sure way to get people fired up is to shut down the stock market and all the banks, thereby denying citizens access to their money. Yet, that is exactly the desperate course of action chosen by Egyptian President Hosni Mubarak. Protests have now spread to Saudi Arabia, and Jordan. So far however, the protests in Saudi Arabia are of a peaceful nature, mostly related to government response to flooding. Recent history suggests that may change at any moment into something far more …
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Egypt Closes Banks, Stock Market; Protests Spread to Saudi Arabia, Jordan; Saudi King Backs Mubarak; Reflections on Misguided US Policy
This is Money Britain's top 10 scams (and how to avoid them) This is Money You see an ad in a newspaper, on a website or even on a lamppost offering work from home with the promise of fast cash for minimal effort. … and more
We are constantly bombarded with pleas for more money for education. After all, it’s for the CHILDREN. They DESERVE a good education. MORE MONEY is the answer. Sadly, more money is not the answer. Locally, Milwaukee Public Schools shows us exactly why money is not the problem. The district increases total spending nearly every year.
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Spending more money on education does not work
The social networking site raised the money from overseas investors through the investment bank’s fund
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Facebook raises $1bn through Goldman fund
Cisco: Fraudster's Money Mules in Short Supply PC World Despite increasing awareness of the schemes, which are often advertised as ” work -at- home ” jobs with generous salaries, many people still get caught up in … and more
Financial empire, luxurious lifestyle were built on a mirage Seattle Times The scam cost US Bank $19234. Berg pleaded guilty to one of the eight charges and got a suspended sentence on condition he repay the money and get … and more
Wall Street : Why Money And Injustice Always Won Black Star News And as always, money was on the side of injustice. Manfredonia, a former trader, was thrown out of Wall Street when he became a whistleblower.
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Wall Street: Why Money And Injustice Always Won – Black Star News
Larry Hilton, an attorney and insurance salesman has authored the “Utah Sound Money Act”. A couple of state legislators are considering sponsoring the bill. Here are a few things the bill would do. Requires State To Accept Gold As Money Among other things the sound money act requires the state to accept gold as payment and would allow but not mandate businesses to accept gold as payment. Creates Defense Force to Protect Gold Part 5 of the bill requires the governor to “recruit, …
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Sound Money, Gold Fever, and Crackpot Ideas
CBS MoneyWatch.com (blog) How to Avoid the New Year's Top Scams CBS MoneyWatch.com (blog) Work -at- home rip-offs. Tantalizing to stay-at- home moms, the unemployed and the disabled, these scams promise big money for assembling products at home , … and more
How to Detect and Avoid the Top Scam Money Making Websites OpEdNews Below are details of some of the top websites that offer payment in exchange for work , and the methods they use to perpetrate their scam . …
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How to Detect and Avoid the Top Scam Money Making Websites – OpEdNews
Monsters and Critics.com Wall Street : Money Never Sleeps – Blu-ray Review Monsters and Critics.com At least it wasn't saddled with a “2” after its name, but this sequel to Oliver Stone's hit Wall Street seems both …
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Wall Street: Money Never Sleeps – Blu-ray Review – Monsters and Critics.com
Reuters New York sues Lehman Brothers' accountants Ernst & Young over fraud AHN | All Headline News Lehman Brothers allegedly sent more than $50 billion overseas each quarter to hide bad news from Wall Street . New York Attorney General Andrew Cuomo has … NY Attorney General Cuomo sues Ernst & Young, alleging Lehman accounting fraud Washington Post Cuomo Sues Ernest & Young Over Lehman TheStreet.com Survey Says: Cuomo Should Slap Ernst & Young With Lehman Fraud Charge Forbes (blog) Financial Post
Last week I presented a webcast for Securities Docket, Follow the Money – Using Technology to Find Fraud or Defend Financial Investigations. In this presentation geared toward attorneys, I gave an overview of some of the technology tools I’m currently using in my practice to provide better, faster financial investigations. We looked at the process I’m using, as well as some of the results I’ve gotten for clients. This process is ideal for attorneys working on cases involving securities fraud, Ponzi schemes, white collar crime, divorce, tax fraud, and corporate fraud. The archived version of the webcast is available for viewing below.
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Webcast: Follow the Money – Using Technology to Find Fraud or Defend Financial Investigations
Popular Hobbies Home Based Business – Join Thousands Of Others Who Earn Money Working From Home Popular Hobbies Unfortunately, there are many opportunities that promise big money and prove to be nothing but yet another scam . When looking for a home based business …
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Home Based Business – Join Thousands Of Others Who Earn Money Working From Home – Popular Hobbies
In an absurd series of posts, Paul Krugman struggles to define money, then criticizes Ron Paul based on a myriad of incorrect assumptions “guessing” what Paul thinks, using as proof a Fan Site, not anything that Ron Paul said. Let’s start from the beginning. Please consider Paul Krugman’s post What Is Money? What is money, anyway? It’s not a new question, but I think it has become even more pressing in recent years. The truth is that these days — with credit cards, electronic …
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Asininity from Paul Krugman Regarding Money Supply and Ron Paul
I recently did a podcast for the International Association for Asset Recovery (IAAR) , which is accessible to IAAR members on their site . One of the great questions asked by David Quinones, host of the podcast and Editorial Director for IAAR, related to best practices in financial investigations. I talked about two of the best practices for fraud investigators and forensic accountants: Reliance on third party sources of information – When companies and individuals are suspected of fraud, it is dangerous to rely on their records or representations during the investigation. Of course, we want to ask them questions and look at their documentation. But we want to be very careful about what we believe. Ultimately, the most reliable sources of information are third party sources, which are more likely to be authentic. For example, bank records, including bank statements, check copies, and deposit tickets are usually very reliable, as it’s unlikely (at least in the United States) that a fraudster manipulated them in some way. A check copy will tell me exactly where the money went, no matter what the accounting records say. Look for reliable third party sources of information on which to base your investigation. The key is in an accurate and effective tracing of funds – The flow of funds is the key to a fraud, but technology is making this more difficult. Money moves quickly across the globe, and fraudsters intentionally confuse things by using multiple accounts and many movements of money to disguise what is happening. I am using cutting-edge technology that can plow through hundreds of thousands of transactions much quicker and more accurately than forensic accountants are able to do using only traditional investigative techniques. This has increased the speed and effectiveness of my investigations, and is providing a distinct advantage in fraud investigations and litigation for my clients. More information on the Sequence Forensic Accounting System can be found here , and you can see me demonstrate some of the results of this system in a webcast: December 15 Webcast: Follow the Money–Using Technology to Find Fraud or Defend Financial Investigations .
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Financial investigation best practices
If this Mr. Smith goes to Washington as head of F.H.F.A., he will face a monumental challenge at a crucial time: how to protect taxpayers from even greater losses incurred by Fannie and Freddie as Congress considers what to do with the companies. … Let them scam their money out of someone else. realitytrumpsbull: I know I’m doing MY part to help Freddie and. http://www.huffingtonpost.com/social/realitytrumpsbull/joseph-a-smith-fhfa-nominee-_n_795447_70510408.html …
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Joseph A. Smith, F.H.F.A. Nominee, Faces Uphill Battle To Reform …
How to Avoid Being Taken in by a Ponzi Scheme New York Times … a Houston law firm that specializes in fraud litigation, and co-author of “Financial Serial Killers: Inside the World of Wall Street Money Hustlers, … and more
Instead, her servicer, Bank of America, foreclosed on the property in late August and handed it off to Fannie Mae, which owned the mortgage. Ms. Roberts first learned this when she saw Fannie Mae’s eviction notice taped to her front door. … The straw buyer got the loan and the money of which Hall only got $50000 and the scam buyer and loan originator split the balance. 3. The straw buyer deeded the home back to Hall without paying a cent on the mortgage. …
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A Failed Mortgage Modification: Inside One Woman's 'Kafka-esque …
SamayLive corruption on verge of getting recognition SamayLive Another scam which came in light just after the 2G spectrum scandal is the home loan scam of 43 crore. In this scam , the money was earned by officials of … and more
Yesterday, Sue Sachdeva was sentenced to 11 years in prison for her $34 million theft from her employer, Koss Corp. I predicted a little slap on the wrist of 5 to 7 years, so she got two little slaps instead. The Washington Post is reporting that Judge Lynn Adelman gave her less than the 15 to 20 years requested by the prosecutor because of her “acceptance of responsibility and the genuineness of her remorse.” Did he read the sentencing memorandum that Sue’s defense counsel filed on her behalf ? I did. And I didn’t see much acceptance of responsibility or genuine remorse. What I saw was a woman who got caught and was trying to get a lighter sentence. How remorseful can she be when almost her entire 25 page sentencing memo is full of excuses for why she shouldn’t be held (as) responsible? 5 pages are spent on her alleged mental health problems, which seem to me an easy scapegoat for her behavior. A page is spent making the case that she didn’t steal the money and then spend it. Nooooo…. she spent money she didn’t have , and then stole to pay the bills. This is somehow different, according to Sachdeva and her attorneys. (Don’t believe me? Read the bottom of page 15 and the top of page 16 to see this unbelievable explanation! ) But even better is the 2 pages spent throwing employee Julie Mulvaney under the bus ! The lawyers claim Sachdeva isn’t responsible for the cover-up. Mulvaney is the one who covered up the fraud!!! They say she worked “independently and without direct supervision to reconcile the company’s ledgers with the available cash, and only minimally shared her methods with Sachdeva.” If that isn’t evidence of a complete lack of taking responsibility, I don’t know what is.
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Genuine remorse from Sachdeva? Laughable.
Hackers go online to suck up suckers' money Ventura County Star These work -at- home scams now litter the Internet, with all the money still flowing to the scammer. You'll find sites offering either training or job leads …
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Hackers go online to suck up suckers’ money – Ventura County Star
The Canadian fund manager will approach private investors as it seeks to raise the money to finance ports, roads and power stations in some of the world’s poorest countries
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Cordiant to raise $1bn for emerging markets
AUGUSTA, Maine (AP) — The U.S. Department of Labor is providing $500,000 for job-training and placement programs in Maine. Sen. Olympia Snowe of Maine said Tuesday that the money will go to the Augusta-based Maine Manufacturing Extension Partnership. The funding will support pre-employment and customized on-the-job training, employer outreach, mentoring and job placement. Snowe, a Republican, says the funding will enhance the quality and competitiveness of Maine’s manufacturing sector. Snowe says the Maine Manufacturing Extension Partnership has a track record for developing hundreds of jobs that may not otherwise have existed. Read original.
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Maine gets job training funding
Good Money and The Fall of Bankers Benzinga Obviously the bankers can't scam people if they can't debauch their money and can never get their hands on their wealth. But Price goes even further in his … and more
NeighborWorks America Marks First Anniversary of Loan Scam Alert Campaign RealEstateRama (press release) A company/person asks for a fee in advance to work with your lender to modify, refinance or reinstate your mortgage. They may pocket your money and do … and more
John Hussman has an interesting post this week on the misguided policies of the Bernanke Fed and how quantitative easing promotes commodity speculation and hoarding but does nothing for the real economy. Please consider Bernanke Leaps into a Liquidity TrapThe belief that an increase in the money supply will result in an increase in GDP relies on the assumption that velocity will not decline in proportion to the increase in money. Unfortunately for the proponents of “quantitative …
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Liquidity Traps, Falling Velocity, Commodity Hoarding, and Bernanke’s Misguided Tinkering
FTC Shakes 'Google Money Tree' Mediapost.com The scam probed by the FTC appears to be a variation on other work -at- home schemes that draw on Google's name. The company itself also is pursuing a …
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FTC Shakes ‘Google Money Tree’ – Mediapost.com
FBI warning targets work-from-home schemes Live 5 News Those who believe they have become a victim of a work-from-home scam should contact their financial institution immediately. Any fraudulent activity or … FBI Warns the Public About Work -At- Home Money Muling Scams Softpedia all 4 news articles
Lower interest rates are not typically synonymous with rising inflation, but Bernanke foolishly thinks he can get that magic pair with the power of persuasion in conjunction with Quantitative Easing. Please consider Fed Considers Raising Inflation Expectations to Boost Economy Federal Reserve policy makers may want Americans to expect inflation to accelerate in the future so they spend more of their money now. Central bankers, seeking ways to boost flagging growth after lowering interest …
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Inflation Targeting Proposal an Exercise in Blazing Stupidity; Fed Fools Itself
The Guardian Wall Street : Money Never Sleeps ABC Online It's a thriller, financial primer from The Devil of Wall Street himself or just a great ride. Take your pick. Money Never Sleeps delivers on all levels – a … Interview With Oliver Stone On Wall Street : Money Never Sleeps HeyUGuys.co.uk all 159 news articles
Stimulus is running out and states will cut employees whether they want to or not. Some job seekers on Craigslist are willing to do anything. In New York, “fine print” has delayed many needed cutbacks. When Stimulus Runs Out CNN Money discusses the Latest unemployed: Stimulus-subsidized workers Tens of thousands of low-income workers lost their jobs Thursday as a stimulus-subsidized employment program came to an end. About a quarter of a million people in 37 states were …
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250,000 Stimulus Jobs Set to Vanish; Firing Bureaucrats in NY Easier Said than Done; Seeking Jobs "Nobody Else Wants to Do"
Work At E-Mail Scams Targeting Unemployed WJXT Jacksonville A recent rash of ” work at home ” e-mail offers are nothing more than a scam designed to bilk unsuspecting people out of their money, according to the BBB. … and more
Washington City Paper (blog) Did Shia LaBeouf Scam Energy Investors While Oliver Stone Was Sleeping? Washington City Paper (blog) Yesterday I saw Wall Street 2: Money Never Sleeps. The acting must have been pretty good because the movie had about 79 serious problems in the “vaguest … and more
Telegraph.co.uk Review: ' Wall Street : Money Never Sleeps' (with trailer) newjerseynewsroom.com More than two decades after the overly opinionated director set out to critique flim-flam and fraud in the financial markets with ” Wall Street ,” Stone is … Wall Street : Money Never Sleeps Trailer and Review Business and Finance News (blog) Movie Review: ' Wallstreet : Money Never Sleeps' Sun-Sentinel Wall Street Premiere Reminds Us of the Downside of Greed Savings.com (blog) OnTheRedCarpet.com
CBC.ca Investigate before you invest CBS 21 The movie, ” Wall Street : Money Never Sleeps” is expected to be a big hit at the box office, but it's also a good reason to think about your own finances. … ' Wall Street ' sequel offers springboard into complex financial topics Reynolds Center Wall Street 2: Sequel to tale of excess opens in Birmingham The Birmingham News – al.com (blog) Scarecrow suggests | Like ' Wall Street : Money Never Sleeps'? Take stock of … Seattle Times Hollywood Life
Capsule reviews of ' Wall Street : Money Never Sleeps' and 'You Again' The Canadian Press Christy Lemire, AP Movie Critic ___ ” Wall Street : Money Never Sleeps” — Oliver Stone was making a statement on the glibly money-hungry times when his “Wall … and more
CBC.ca ' Wall Street ' sequel faces uphill climb One News Page … long-awaited sequel to “ Wall Street ” and Zack… A new battery-powered card with a programmable magnetic stripe promises to reduce fraud , but it faces. … REVIEW: ' Wall Street ' sequel offers big payoff Colorado Springs Gazette ' Wall Street ' sequel offers springboard into complex financial topics Reynolds Center Scarecrow suggests | Like ' Wall Street : Money Never Sleeps'? Take stock of … Seattle Times Chicago Tribune
Forensic accounting has been around for decades, but only in the last ten years have people become aware of the profession on a wide scale. Many of the techniques used by forensic accountants to investigate fraud and analyze the numbers are the same today as they were decades ago. Computers have made things easier, as we can track, sort, and manipulate data faster. While software solutions for analyzing data, managing documents, and following the money are being used in investigations, they’re not being used to their full potential. This is obviously a missed opportunity for clients. Old Fashioned Investigations The old way of investigating fraud – the one that requires manual data analysis – is tried and true. Examining source documents is critical to finding out what really happened with the money. There is no substitute for the judgment, skepticism, and investigative intuition of a seasoned forensic accountant. There are two major problems, however, with relying solely on traditional investigative methods. First, it is incredibly time-consuming to sort through mounds of documents, cull the paper for important numbers, and manually compare and reconcile data. There is only so much work one person can do and when faced with hundreds of bankers boxes full of documents, an investigation can easily take several months. The second problem with using only traditional forensic accounting techniques is the possibility of overlooking important data and inaccuracy in data entry. The more documents related to an investigation, the greater the chance for human error in examining things. The sheer volume of data in cases causes forensic accountants to sample the data. Judgment calls will be made about what items to examine, often with a dollar figure as a cut-off point. Unfortunately, examining only some of the transactions leaves room for error. Sometimes a very small transaction can offer a hint about a fraud, and there is always a risk that a detail will be missed when sampling. When important documents and numbers are isolated, the forensic accountants often engage in a manual process of entering them into software. The software can range from basic databases and spreadsheets to specialized investigative software. Unfortunately, manual data entry leaves room for errors that can impact the results of the investigation. Investigative Innovations Forensic accountants are not quick to accept change. They rely on the techniques and methods they’ve been using for years and eye innovations suspiciously. New software that can radically change and improve investigations is not being warmly embraced yet. There are a few very popular software packages that help fraud investigators manage and analyze data. They work well, but their purposes are rather limited. While all of the software can analyze data in many different ways, most times the software has limited functionality when it comes to hard copies of documents. The numbers from those papers need to get into the software, and much of that must be done manually. Advanced software is available, however, which effectively handles any documentation connected to a fraud investigation. It goes beyond a typical attempt at scanning documents and hoping the computer recognizes the numbers and letters correctly. Next generation investigative software recognizes data in many different formats, puts the data into a database, and rapidly reconciles all the numbers. The data is then analyzed and the software maps the flow of funds, searches for transaction patterns, creates charts and graphs, creates standard and customized reports, and much more. The data instantly becomes more valuable and usable for the fraud investigator, who can then dig deeper into the transactions and the flow of money. The software is so valuable not only because of its accuracy, but because it can analyze 100 percent of the transactions. Such innovation might sound too good to be true, but it is not. Unfortunately, this type of software is not being widely used by financial investigators for a number of reasons. One factor is the high cost of the software and the difficulty integrating it into a traditional accounting firm. Traditional methods of billing for fraud investigation services don’t really work with a tool such as this software. Forensic accountants are also slow to adapt their investigations to incorporate new software and methods. Hire the Right Investigator Ultimately, the goal of a fraud investigation is a determination of how the fraud occurred, who did it, how it was concealed, and how much money has been lost. A forensic accountant using cutting-edge software can find those answers faster, more accurately, and with greater efficiency. The investigation will be more thorough, yet will take much less time than it would without the software. It makes no sense to be satisfied with only traditional financial investigative techniques when there are state-of-the-art software options to assist the forensic accountant. Of course, making use of such software requires a competent investigator who not only knows how to use the software, but also knows how to further investigate any issue that may arise.
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Follow the Money, Find the Fraud