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Rounding fraud is a type of financial fraud using round numbers.It is frequently caught by the over usage of certain statistically improbable number patterns. [1] A notable example of rounding fraud was committed by the India-based company Satyam Computer Services which was detected in 2019, [2] and it is typical in the context of Medicare fraud at Skilled Nursing Facilities (SNFs). [3]
Round-tripping, also known as round-trip transactions or Lazy Susans, is defined by The Wall Street Journal as a form of barter that involves a company selling "an unused asset to another company, while at the same time agreeing to buy back the same or similar assets at about the same price."
Fraud and financial crime patterns have become more digital and faster changing, leveraging the underlying characteristics of the underlying digital payments infrastructures. This caused traditional rule based systems to be ineffective and led the way to machine learning and AI-based fraud detection techniques.
Scientific misconduct is the violation of the standard codes of scholarly conduct and ethical behavior in the publication of professional scientific research.A Lancet review on Handling of Scientific Misconduct in Scandinavian countries gave examples of policy definitions.
An overpayment scam, also known as a refund scam, is a type of confidence trick designed to prey upon victims' good faith.In the most basic form, an overpayment scam consists of a scammer claiming, falsely, to have sent a victim an excess amount of money.
In an eleventh-hour reversal, former President Donald Trump announced Sunday he will not go back on the witness stand in the $250 million civil fraud trial against him and his company.
A 2011 study of one year of original New England Journal of Medicine publications found that 13% of them constituted medical reversals. [3] A 2013 study of a decade of medical journal articles found that of the 363 articles focused on standard of care practices, 146, or about 40%, led to reversals of the practice. [7]
Repo 105 is Lehman Brothers' name for an accounting maneuver that it used where a short-term repurchase agreement is classified as a sale. The cash obtained through this "sale" is then used to pay down debt, allowing the company to appear to reduce its leverage by temporarily paying down liabilities—just long enough to reflect on the company's published balance sheet.