Incidence Of Fraud Research Articles

The Analysis of Luckin Coffee's Accounting Scandal

In recent years, a company called Luckin Coffee in China got caught up in a big money scandal that shook both Chinese business circles and global financial markets. This study dives into what happened with Luckin Coffee, trying to figure out why it happened, how it impacted other companies, people who put their money in, and the whole market, and what can be done to stop such problems down the road. By going through different articles and reports, this study will thoroughly look into the backdrop and particulars of Luckin Coffee's financial mishap, and its repercussions both in China and on a global scale. The objective is to dig out the true causes of such financial wrongdoings and propose solutions for better oversight of company finances to prevent a repeat of such scenarios. Through an in-depth analysis of the financial fraud incident of Luckin Coffee, this research not only has important theoretical and practical significance for understanding and preventing financial fraud, but also provides valuable experience and lessons for financial regulatory agencies and enterprises, and promotes financial management and supervision.

Fraud And Financial Performance Of Banks In Nigeria

Incidence of fraud is a global problem affecting the society across all works of life and no person or organisation is immured. This study investigated fraud and financial performance in Nigerian banks for the period 2002 to 2016. Data analysed were sourced from Central Bank of Nigeria (CBN) statistical Bulletin and NDIC annual reports. The result identified the amount involved in fraud (0.3354) to have affected the banking sector performance. The study concluded that fraud is harmful and recommended that there is need for the establishment of adequate internal control system, capacity building and legal framework for fraud prevention.

Detection and quantification of olive oil adulteration using fluorescence spectroscopy and chemometric tools

The increasing incidence of fraud in the olive oil market, particularly through adulteration with cheaper oils, poses a major challenge for the industry. This study examines the effectiveness of fluorescence spectroscopy combined with chemometric tools as a method to detect and quantify olive oil adulteration. Chemical analyses were used to measure parameters such as specific absorption coefficients K232 and K270, peroxide value, and acidity, in accordance with International Olive Council (IOC) standards. These measurements were conducted on samples of olive oil blended with varying percentages of adulterating oils. 3D fluorescence spectra were analyzed to examine the changes induced by adulteration. The results show that free acidity and peroxide value decrease with increasing adulteration degree, while the parameters K232 and K270 increase with the degree of adulteration. Principal component analysis (PCA) was effectively used to differentiate samples based on the percentage of adulterant. A partial least squares (PLS) regression model was developed, achieving a correlation coefficient of 0.999 for predicting the percentage of adulterant in olive oil. This PLS model also proved effective in predicting oil quality parameters such as free acidity and K232 and K270 indices. The results of this study demonstrate the significant potential of fluorescence spectroscopy as a rapid and non-destructive method for olive oil authentication. PCA emerges as a powerful tool for characterizing pure oils without requiring sample preparation or destruction. Furthermore, PLS models provide accurate means to predict both the presence of adulterants and olive oil quality parameters. This approach offers a promising solution to combat fraud in the olive oil industry, ensuring product integrity and quality.

Development of an efficient machine learning algorithm for reliable credit card fraud identification and protection systems

Recent developments in e-commerce and e-payment systems have led to a rise in financial fraud incidents, particularly credit card fraud. Software tools to identify credit card theft are essential. Critical characteristics of credit card fraud are crucial in utilizing Machine Learning (ML) for credit card fraud identification and must be selected carefully. This study suggests a An Efficient Machine Learning Algorithm for Reliable Credit Card Fraud Identification (EMLA-RCCFI) was constructed using ML, which utilizes the Genetic Algorithm (GA) to select features. Once the optimum characteristics are determined, the suggested detecting module utilizes the subsequent ML-based classifications. The proposed EMLA-RCCFI system is assessed using a dataset produced by European cardholders to confirm its efficacy. Based on the results, the suggested EMLA-RCCFI method surpassed existing systems regarding accuracy, precision, and F score.

Metabolomics for quality assessment of poultry meat and eggs

Abstract The poultry industry is experiencing rapid growth worldwide. This accelerated growth has led to multiple food fraud incidents across the food supply chain, which consequently created a demand for precise determination of quality poultry production. This increase in demand for precise poultry production quality has necessitated advanced solutions. Metabolomics has emerged as a viable solution by offering detailed differentiation of biochemical indicators throughout the poultry supply chain. Additionally, this study provides a means to address risk factors affecting the poultry industry without compromising animal welfare, which is a critical concern. This review focuses on important issues related to poultry product quality assessment. Food adulteration has escalated in recent years as it is driven by the increasing focus on consuming high-quality and nutritious food. However, there is no specific guideline for such determinations, especially when appearance, texture, and taste can be manipulated by substituting for food components. Metabolomics can pave the way for a deeper understanding of existing and novel biochemical indicators responsible for determining the quality of poultry meat and eggs. This approach holds the potential to enhance the overall quality of poultry meat and egg products while also preventing food fraud.

Kebermanfaatan Mata Kuliah Pengauditan Bagi Mahasiswa Akuntansi terhadap Kemampuan Mendeteksi Fraud

The aim of this research is to determine the influence of accounting students' perceptions of the benefits of audit courses on their ability to detect fraud in Merauke City. The benefit for accounting students who will become auditors in the future, this research will help identify the extent of fraud early on. The method used in this research is empirical research using a quantitative approach. The sample was 4th semester students who had taken courses at a university in the city of Merauke. The results of the research, namely a descriptive analysis of accounting students' perceptions carried out among university students in Merauke City, show that the perceptions of accounting students in Merauke City have a significant influence on the benefits of higher education audit courses. The implementation of a whistleblowing system for students is very helpful in reducing incidents of fraud in the academic and non-academic sectors as preparation for those who will become examiners or auditors in the future in pursuing the Public Accounting profession.

Implementation of Blockchain Technology in Improving Transparency of Public Services: A Case Study on Government Service Delivery in Indonesia

This research investigates the implementation of blockchain technology in enhancing the transparency of government service delivery in Indonesia through a quantitative analysis. Utilizing a mixed-methods approach, including regression analysis, descriptive statistics, and demographic analysis, the study explores the perceptions of government officials, service providers, and citizens regarding the impact of blockchain adoption. The findings reveal overwhelmingly positive perceptions, with statistically significant relationships identified between blockchain adoption and perceived transparency, user satisfaction, reduced incidents of corruption or fraud, and improved time and cost efficiency. The demographic analysis highlights variations in perceptions across different stakeholder groups, emphasizing the need for tailored approaches in policy formulation. These results contribute to the evolving discourse on blockchain technology in the public sector, providing valuable insights for policymakers and practitioners.

Fraud risk management and financial performance of microfinance institutions in Kenya

Fraud is a thorn in the flesh of many organizations in both local and global business ecosystems, more so in the financial sector because of the liquid nature of their services. To curb this menace, Financial Institutions including Microfinance institutions implemented fraud risk management practices. While larger financial institutions afford raft measures for curbing fraud, MFIs contend with less sophisticated practices in spite of them being the most susceptible to financial improprieties. Further, the determination of the overall effect of these practices on financial performance is critical in evaluating their success. The objective of this study therefore was to find out how fraud risk management practices affect the financial performance of Microfinance Institutions in Kenya. The study was anchored on the fraud management life cycle theory and focused on twelve deposit-taking Microfinance Institutions that were in operation in the Nairobi region of Kenya between 2016 to 2020. The study adopted a descriptive research design using cross-sectional data computed from the average financial results for five years 2016-2020. The study used purposive and stratified Random sampling methods to select a sample of 281 respondents from finance, ICT, operations, Audit, and Litigation managers and staff. The study used descriptive and inferential statistics to analyze the data. The results showed that fraud risk management positively and significantly affected financial performance by curbing incidents of fraud and concluded that to improve financial performance microfinance institutions should implement fraud risk management since they had a positive and significant effect on financial performance. The study recommended that firms should invest substantially in fraud risk management to reduce incidences of fraud and improve financial performance. Further, the management of Microfinance Institutions should continually evaluate and update their practices to keep abreast with the ever-changing fraud antics.

Medical Insurance Fraud Detection Using Machine Learning

Medical insurance fraud poses significant challenges to the healthcare industry, impacting financial resources and patient care. This research explores the application of machine learning methodologies to detect fraudulent activities within healthcare insurance claims. Medical insurance fraud detection is crucial to help insurance companies save money. Machine learning is a powerful tool that can be used to detect fraudulent activities in the healthcare industry. Fraud can be spread broadly and extremely costly to the therapeutic protection framework. Protection can be made unscrupulous and be a case designed to hide or alter such information meant for social insurance benefits. Cheats might be numerous and submitted by the protection guarantor or the safeguarded. The unscrupulous social insurance providers are the reason for extortion in the well-being segment. This research approach is to apply machine learning to find incidents of medical insurance fraud automatically. In conclusion, machine learning is a promising tool for detecting medical insurance fraud. It can help insurers detect fraudulent activities in real time, saving money on bogus claims.

SMART TECHNOLOGY AS A VERITABLE TOOL FOR CREDIBLE ELECTION: A STUDY OF NIGERIA

Election is a key component of democracy. Since Nigeria gained its independence in 1960, the conduct of election in the political history of Nigeria has been marred by fraudulent practices, corruption and violence. In spite of series of electoral reforms, the country has not succeeded in reducing incidences of voter intimidation, ballot box snatching and stuffing, multiple voting, falsifications of results and other associated electoral malpractices. In fact, the country failed to conceive and implement free, fair, transparent and credible electoral process. Admittedly, part of the efforts made towards the conduct of 2015 general elections is the introduction and use of Smart Card Reader (SCR) in the quest to ensure free, fair and credible election. Building on the gains of Smart Card Reader in the 2015 elections, INEC introduced an advance level of smart technology in elections conducted outside the election circle in the year 2021 known as Bimodal Voter Accreditation System (BVAS). It is against this background therefore; the paper investigated the impact of smart technology in the electoral process. The study adopted quantitative research method as data were gathered through primary sources. David Easton’s system theory was deployed for analysis. The study found amongst others that the introduction of smart technologies – Smart Card Reader and the Bimodal Voter Accreditation System have reduced incidence of electoral fraud, and enhanced free, fair and credible elections in Nigeria. The study recommends adequate facility, including legal framework for full adoption and operation of smart technology across all the facet of electoral process including voting in Nigeria.

Credit Card Fraud Prediction Based on Machine Learning Algorithms

The escalating use of the Internet has led to a surge in online shopping and e-commerce, resulting in a corresponding increase in credit card fraud incidents. Therefore, this research focuses on employing machine learning techniques, which offer enhanced precision and efficiency compared to manual detection, to identify fraudulent activities. To establish the association between credit card transaction attributes and the presence of fraudsters, this study initially gathers data from Kaggle, subsequently normalizing the collected data. Furthermore, the data exhibits severe imbalance, leading to overfitting concerns. To ascertain feature correlations, a correlation heatmap is constructed. Moreover, this investigation selects three models for analysis. Finally, the performance of each model is evaluated using a confusion matrix and derived metrics. The findings reveal that both the decision tree and random forest models exhibit optimal performance, achieving 100% across all indicators. The most influential factors in determining credit card fraud involve the ratio to median purchase price and the geographical proximity of the transaction location to the cardholder's residence.

Exploring integrity in Australian public services: A method to benchmark public service codes of conduct

AbstractIntegrity is an ongoing concern in the public sector. Contemporary examples include fraud incidents, ethical violations, theft, and a disregard of legal advice resulting in significant harms to the public. Public service integrity management systems are interconnected frameworks of legislation and institutions intended to reduce such incidents, including Codes of Conduct (CoCs). A CoC is typically defined as a written set of norms that outline virtuous or desired behaviours, often creating or linking to sanctions for violations. Despite matters of integrity and corruption being a high concern for citizens, no method exists to compare monitoring, reporting, and review of CoCs across jurisdictions. We developed and applied a method to assess CoC implementation using specific assessment criteria developed by reviewing available content across jurisdictions and the current literature on CoCs and integrity management. Our results reveal substantial inconsistency between jurisdictions and a lack of available or accessible data for many CoC elements. Our method serves both as a tool for analysis of the effectiveness of CoCs over time and as an assessment of how jurisdictions are currently reporting on their compliance with their own CoCs.Points for practitioners A lack of evidence exists in terms of how CoCs are monitored, reported on, and reviewed. As a first stage of a research program, we develop and apply a method to all Australian states, territories, and the Australian Public Service to compare the monitoring, reporting, and review activities undertaken by these jurisdictions. Application of the method reveals opportunities for jurisdictions to improve the availability and accessibility of CoC data collection, reporting, and review. Auditors General and Public Accounts Committees should consider this method as part of their works programs and potentially use it to inform their scrutiny programs and requirements for performance and annual reporting. Public Service Commissions could find the data useful in adapting and improving their CoC monitoring, reporting, and review systems.

The contagion mechanism and governance strategy of corporate social irresponsibility of Chinese food companies

From a global perspective, the incidents of food fraud are still increasing in recent years, which shows that the food safety issue has not been well addressed. As a major world food exporter and importer, egregious incidents of corporate social irresponsibility (CSI) for domestic food companies were discovered in China. Although the Chinese government has been strengthening the supervision on food companies, the governance effect is not obvious. This research focuses on the governance of the CSI behavior of food companies. As opposed to the existing literature based on Neoclassical economics, this article analyzes food companies' CSI by applying a behavioral economic framework. The system dynamics method is used to analyze the implementation effect of the corresponding governance strategy. Researchers discovered that the short-sighted cognitive bias of food companies is the primary reason for CSI, which results in the self-reinforcing effect and interactive contagion effect. Under the current imperfect institutional environment, these effects will be further amplified to present a crisis of collective irresponsibility. This study provides timely evidence and significant regulatory implications for the ongoing food safety crisis in China. In order to control the contagion of CSI in the food industry, the government should increase its sanctions on irresponsible food companies from the short-term perspective. The government should also establish a fair and standardized market competition order and improve the information disclosure mechanisms and third-party governance mechanisms in the long term. These actions will contribute to a more comprehensive research perspective on food safety governance and, additionally, and to develop more targeted strategic tools for the government to regulate the food market. Our insights can also provide a reference for other countries and industries facing similar challenges.

A study and analysis on the role of legal accounting in fraud detection and prevention

Forensic accountants are CPAs that look for evidence of crimes and commonly work for insurance companies, financial institutions, and law enforcement agencies. Forensic accountants analyze financial records and accounts that may be used as legal evidence and often testify in court cases as expert witnesses. Forensic accounting is a specialized area of accounting and a challenging one. A forensic accountant investigates incidents of fraud, bribery, money laundering and embezzlement by analyzing financial records and transactions, tracing assets, and more. This study on forensic accounting services and fraud prevention was empirically investigated. The study is vital as it portrays the extent to which the application of forensic accounting services influence the incidence of fraud in health care firms in Nigeria. Two hypotheses were formulated to guide the investigation and the statistical test of parameter estimates was conducted using Kendall’s Coefficient of Concordance. The study anchored on the White Collar Crime Theory adopted a Survey Design Approach. Hence, data were collected using questionnaire survey administered to the relevant accounting sections of health care firms in Nigeria. The empirical analysis of the study indicates that the application of forensic accounting service has reduced the incidence of frauds and has also led to fraud prevention at 1% significant level. Thus, the study concludes that the application of forensic accounting services prevents fraud in health care firms in Nigeria. In lieu of this, the study recommended that adequate internal control system should also be established to have checks and balances among the staff to reduce fraud to its nearest minimum, thereby, restoring confidence to potential and prospective investors. Also, since staff of health care firms in Nigeria are strategic in prevention of fraud, their remunerations and welfare should be made a priority and taken serious. Also, training and re-training of these staff would encourage them to detect early warning signals for fraud activities in the company.

Do No Harm: Whistleblowing on Medicare Fraud

ABSTRACT The high incidence of healthcare fraud in the United States resulted in the creation of multiple outlets to report fraud, such as the Medicare Hotline, the Office of the Inspector General, and the filing of False Claim Act lawsuits associated with whistleblower rewards. Despite the high incidence, examinations of whistleblowing factors in this industry, such as whistleblowers’ professional roles and fraud types, are scarce, and the interaction effects of these factors are unknown. In this study, participants from two different professional roles disclose their likelihood of reporting Medicare fraud through the aforementioned three reporting outlets conditional on two different billing fraud types. The results indicate that although workers in both professional roles show similar likelihoods to report fraud regardless of the reporting outlet, fraud type and its interaction with the professional role influence some but not all the reporting likelihoods.

Understanding Voters' Preference for Candidates in the Philippine Presidential Elections

Philippine presidential elections have traditionally been characterized by the dominance of political popularity, populism, and financial interests, often marred by incidents of violence and electoral fraud. In this context, higher education is recognized as a pivotal tool for mitigating voter naivety and fostering informed political engagement. This study seeks to assess the preferences of voters, specifically 108 students from BiPSU (the research population), and to identify the significant sources of information that influence their decision-making about the election.

The Role of Wishtleblowing as Mediation on the Effect of Organizational Justice on Employee Fraud

This study aims to analyze the effect of organizational justice on employee fraud mediated by whistleblowing intention in the context of banking in Jakarta. The research sample consisted of 78 bank employees working in various branches in Jakarta. Data were collected through questionnaires and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) through Smart PLS software. The results showed that organizational justice has a significant influence on employee cheating. This finding indicates that employees' perceptions of fairness in their workplace are directly correlated with the likelihood of fraud. In addition, the study also found that whistleblowing intentions serve as a mediator in this relationship, suggesting that the propensity to report unethical or suspicious activities is a key factor in reducing the incidence of fraud. These results have important implications for bank management in developing fraud prevention strategies, particularly through enhancing organizational justice and promoting a whistleblowing culture. This study provides new insights into the dynamics of employee fraud and its prevention mechanisms, highlighting the important role of organizational justice and whistleblowing intentions in the context of banking in Jakarta

Pengaruh Kompetensi Badan Pengawas, Budaya Organisasi Dan Sistem Pengendalian Internal Terhadap Pencegahan Fraud

Preventing fraud is a measure taken to lessen the likelihood that dishonest individuals will deceive others for financial gain. The research team wanted to know if there was a correlation between a strong internal control system, a strong corporate culture, and a low incidence of fraud. This investigation was carried out at the North Denpasar District Village Offices. A total of 66 people were polled for this study's samples. To gather information, we'll be using a questionnaire. In the meantime, the outer and inner PLS models are used in the data analysis procedure. According to the results of the simulations, the effectiveness of fraud prevention measures is enhanced by the competence of the supervisory body. A company's culture can make a big difference in how effectively it combats fraud. When it comes to preventing fraud, the internal control system plays a crucial role.

Analysis and thinking of Hongda New Material Financial Fraud Case

With the continuous development of the economy, emerging companies in various industries are also competing for flowers, so information stakeholders in all aspects will pay more attention to the appreciability of profits when using financial statements, and accountants will be more likely to whitewash the statements. However, the occurrence of financial fraud will not only cause huge losses to enterprises, but also expose some shortcomings in various aspects of business ethics and professional ethics. Therefore, this paper analyzes the financial fraud incidents of Hongda New Materials, which then leads to various business ethics and professional ethics thinking problems such as the lack of ethics of financial personnel, the ineffective internal control system of enterprises, and the incomplete construction of industry rule of law, and gives suggestions for feasible measures.

Economic freedom, financial development and the determinants of fraud and scandal: The United Kingdom, 1900–2010

The paper argues that the incidence of financial fraud and scandals has systemic macro-economic determinants. While not denying organisation specific causes, short-run triggering events, and key players’ motivations, it shows that the extent of fraud and the number of financial scandals depend on the opportunities created by the financial system’s evolution. Using archival and quantitative evidence from the United Kingdom, it specifies aggregate changes in the incidence of fraud and scandal between 1900 and 2010. The evidence shows that economic freedom, including the degree of financial development, the availability of credit, the relative importance of the financial sector, international capital mobility and secrecy, and banking stability, contribute to the prevalence of fraud and scandal. Financial repression explains a generalised reduction in a 25-year period after the Second World War. Conversely, economic liberalisation from 1979 onwards has increased the incidence of fraud and financial scandal.