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22 Results for Tag: fraud

Kickback

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 another party. Explaining 'Kick

Kiting

Kiting What is 'Kiting' Kiting is the act of misrepresenting the value of a financial instrument for the purpose of extending credit obligations or increasing financial leverage. 2. A fr

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 benefits in the other person's name, a

Identity Fraud Reimbursement Program

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 ident

Majority Shareholder

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 shareholder is of

Magnetic Ink Character Recognition Line (MICR)

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 bank's routi

Major Fraud Act Of 1988

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 legislation. Among th

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 – approximately $1.1 billion in 2

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 investors. It is an inve

Quiet Filing

Quiet Filing What is 'Quiet Filing' The name given to an IPO filing where important details are intentionally excluded. Sent to the SEC in order to begin the process of issuing a new secur
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