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Posts Tagged ‘fraud scheme’

Is it the End For the Monolithic Tax Haven?

Tax havens have been catering to the super wealthy, dictators, terrorist groups, organized crime and legitimate corporations for centuries.
It is perfectly legal to open a company and/or bank account in an offshore tax haven as long as your country of origin is aware of it and you pay your taxes.
Legal issues arise when…

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Think you’re too educated to become a fraud victim?

The lack of correlation between a person’s education and their propensity to fall victim to a fraudster is all too familiar. Fraudsters are entrepreneurs. The types of fraud they perpetrate and the marketplaces in which they find success vary depending on their talents, skills and operating comfort zones.

Also, fraud is a relational crime. Potential victims — prospective marks — will be more susceptible…

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Charles Ponzi

The term Ponzi Scheme was brought to the forefront in 2009 when Bernie Madoff admitted to committing the largest fraud in U.S. history and sentence to 150 years in prison for stealing $65 billion from thousands of investors. The Ponzi Scheme is named after a con artist who lived in the early 20th century. Although the Ponzi scheme carries his name…

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Protect the Potential Victims of Fraud

According to Jean-François Fortin, the executive director of enforcement at the Autorité des marchés financiers (AMF), there are two ways that regulators can prevent and deter fraudsters. “First the certainty of being caught. And second, the certainty of punishment.”

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How Criminals Disappear

Newspaper headlines and television news media have been inundated with stories of investment advisors who have fleeced their clients out of millions of dollars and vanished into thin air. How do people just vanish?

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