According to Governance, Risk & Compliance (2023), Jessica Fountaine, a woman from Florida got arrested on suspicion
Question:
According to Governance, Risk & Compliance (2023), Jessica Fountaine, a woman from Florida got arrested on suspicion of fraud and third-degree grand theft in connection with a resident of Brandon Township. The victim confirmed in Oakland County Sheriff's Office (OCSO) that Jessica allegedly obtained the victim's personal information to close her AT&T account without obtaining the permission and opened a new one. Moreover, three withdrawals totalling $12,000 from three different Florida's financial institutions were made from her account. Jessica already has pending charges in Ohio related to fraud and identity theft which includes total bond of $85,000. The OCSO has allocated a detective, Keith Nabozny for the investigation of the case incurred with resident of Brandon Township, Florida. Keith instructed certain measures to prevent these kinds of frauds indicating if someone is getting emails or phone calls for things they have not applied for or know of the it is strictly instructed that they should not fall for it. The fraud triangle elements include pressure, opportunities, and rationalizations.
Fraud Triangle Elements
Possible Pressures: Jessica has a tendency of defrauding the financial institutions which indicates that the possible pressure is aligned with the financial crises or distress.
Opportunities: There are ample of opportunities including Jessica might obtained information through bank which is driven by the weaken security control of the bank or the victim forgot her personal documents at any easily accessible place.
Rationalizations: The article provides just a snip of the incident; however, it does not offer insights into potential justification for Jessica's actions
Peer Post
The financial fraud article I chose is about Saudi authorities that arrested 13 individuals involved in a widespread financial fraud operation, following a thorough investigation by the Financial Fraud wing of the Public Prosecution. The suspects engaged in money laundering, electronic fraud, and violations of the electronic transactions system. The investigation revealed that the fraudsters created fraudulent electronic links sent to victims, enabling them to unlawfully access government accounts, issue legitimate authorities without victims' knowledge, and transfer funds from victims' bank accounts to other accounts or commercial entities to conceal the source. The criminal organization defrauded victims of approximately SR16 million and seized over SR600,000 in cash and various currencies. The Public Prosecution has ordered their arrest and referred them to the court for the harshest penalties.
The opportunity for fraud arises from the suspects' ability to create fraudulent electronic links, access government accounts, and transfer funds without the victims' knowledge. The exploitation of loopholes in the electronic transactions system provides the necessary opportunities for their criminal activities. I did not quite receive as much information from to article to identify the pressure or rationalization, but I would assume the rationalization would be because maybe they desperately needed the money to maybe pay off a debt and that was the easiest way to get it without being detected. The pressure could possibly be that they were intimidated by someone with higher authority to do that in order pay off a debt.
In your responses to your peer, be sure to address the following:
- Identify any similarities and differences between the pressures and opportunities you posted and the ones your peer posted from the articles.
- Do you agree with the rationalization that your peer posted? Why or why not?
Fundamentals Of Management
ISBN: 9781292307329
11th Global Edition
Authors: Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo