In This Chapter
Examining frauds committed by businesses against the public
Recognizing frauds committed against businesses
Focusing on frauds against the government
Getting acquainted with the Ponzi scheme
Everyone is affected by fraud, either directly or indirectly. Even if you haven't been a victim of fraud, you pay for it. Think about it: Does your credit card company really need to charge you 24 percent interest and all those big fees? It does so to make up for all the costs associated with phony credit cards, stolen credit cards, and customers who just don't pay.
This chapter introduces some of the most common types of fraud committed by businesses, against businesses, and against the government. The goal here isn't to give you all the details about every type of fraud imaginable. Instead, this chapter simply gets you thinking about what fraud often looks like so you have a sense of the scope of work an accountant may encounter when addressing possible fraud — the willful intent to deceive.