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Corporate Fraud and Internal Control Workbook: A Framework for Prevention by Richard E. Cascarino

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Chapter Three

Frauds Against the Individual

ANSWERS: FILL IN THE BLANKS

1. nondisbursing
2. absurdly low
3. Consumer
4. Rogue dialers, stealth mode
5. lottery
6. letter, e-mail, mobile text message
7. “Reloading”
8. pay-per-call
9. do not expect to receive a product
10. negligent misrepresentation
11. duty of disclosure
12. up-front
13. 4-1-9
14. dead relatives, officials
15. “middleman”
16. Bait and switch
17. intentional, greater
18. documentation, corroborating
19. with
20. extortion
21. affinity fraud
22. Ponzi
23. guaranteed
24. pyramid scheme
25. inventory loading
26. later investors
27. “agency fees”
28. “work at home”
29. registered, hosted
30. skepticism

SOLUTIONS: SHORT-ANSWER QUESTIONS

1. Typical among online auction frauds are:
  • Failure to send purchased items
  • Failure to pay
  • Misrepresentation of the item for sale
  • Switching purchased items and returning a defective equivalent
  • Sale of stolen goods
  • Sale of pirated or counterfeited goods
  • Charging excessive shipping costs
  • Selling nonexistent goods in order to extract credit card details
2. Gifting clubs frequently purport to be local charitable or church groups with associated joining fees. In reality, many are simply pyramid schemes requiring constant recruitment to survive. Ultimately, the pyramid collapses and joining ...

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