Tag: fraud
Using RPA to Streamline Compliance And Risk Management in Finance
Today, there is a gamut of complex regulations that banks and financial institutions have to follow. Given that regulatory requirements are constantly changing, organizations...
How to Contest a Will: Steps to Take in Probate Disputes
Losing a loved one is already a challenging and emotional experience, and matters can become even more complex when disagreements over the deceased's will...
Kickback
What is a 'Kickback'
A kickback is the payment of something of value to a recipient as compensation or reward for providing favorable treatment to...
Identity Theft
DefinitionIdentity theft is the deliberate use of someone else's identity, usually as a method to gain a financial advantage or obtain credit and other...
Identity Fraud Reimbursement Program
What is 'Identity Fraud Reimbursement Program' A financial product that offers reimbursment for the costs associated with having been a victim of...
Majority Shareholder
What is a 'Majority Shareholder'
A majority shareholder is a person or entity that owns more than 50% of a company's outstanding shares. The majority...
Magnetic Ink Character Recognition Line (MICR)
What is 'Magnetic Ink Character Recognition Line - MICR' The information that appears at the bottom of a check that includes the...
Major Fraud Act Of 1988
What is 'Major Fraud Act Of 1988' A piece of legislation passed during the Reagan administration that modified and strengthened previous fraud...
Salad Oil Scandal
DefinitionThe Salad Oil Scandal, also referred to as the "Soybean Scandal", was a major corporate scandal in 1963 that ultimately caused over $150 million...
Ponzi Scheme
DefinitionBy definition, a Ponzi scheme is a fraudulent investment that involves the payment of purported returns to existing investors from funds contributed by new...