Answered step by step
Verified Expert Solution
Question
1 Approved Answer
o: Customers From: Mangahis, Aundreihomer Subject: Account Fraud Hello, I hope this email is received, and I hope your day has been well. The purpose
o: Customers From: Mangahis, Aundreihomer Subject: Account Fraud Hello, I hope this email is received, and I hope your day has been well. The purpose of this message is to address account fraud. Account fraud occurs when a company illegally alters their financial statement, either by overstating their assets or understating their liabilities. Wells Fargo, a well-known financial company, has admitted to creating millions of fake accounts using their customers's private information. Over 500,000 credit card accounts were used, and many have been charged without their consent. Some charges include annual fees, interest charges, and overdraft-protection fees. To prevent further reprecussions, Wells Fargo decided to fire over 5,300 employees throughout the years, according to a CNN Business article. Since 2016, Wells Fargo has had to pay billions of dollars worth of fines. Account executives at Wells Fargo were not acting in an ethical manner, not even the slightest bit. They involved themselves in despicable acts, opening accounts without the consent of their customers to meet target sales. At our company, we believe transparency and honesty are the best ways to avoid issues like accounting fraud. Before hiring anyone on our accounting team, we will perform strict background checks, looking for trustworthy, professional, and ethically moral individuals to join our team. write me a reply how did he do about this email. 150 words
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started