Ask Basic Finance Expert

After you answer each problem you must also describe whether your answer affects corporations and individuals positively or negatively. Please number your answer to match each problem number.

GENERAL FRAUDULENT PRACTICES
1. What measures do you have in place to help your organization fight fraud?
2. How, if at all, does your organization engage in a systematic fraud prevention readiness self-assessment?
3. What are the processes of reporting bank fraud to appropriate authorities?
4. To what extent could bank customers lose their confidence in banks for fraud?
5. Would a bank sales representative's pressure on an investor to invest more and more not be a legitimate cause for fraud alert?
6. How may bank customers recognize warning signs of bank fraud?
7. Why would a bank employee want to commit bank fraud?
8. How proactive are bank management teams to identify bank fraud before it happens?
9. In the context of fraud, to what extent is reputation important to a banking organization?
10. How can a bank grow under the yoke of fraudulent practices?
11. How can a bank's existing and new customers avoid bank fraud?
12. Does fraud at one bank affect other banks, their employees and customers?
13. To what extent are bank customers secure when accessing your accounts using your bank's online services?
14. How may bank customers contribute to fraud prevention and avoidance?
15. How do bank management teams control potential factors of bank fraud?
MONEY LAUNDERING
1. To the best of your knowledge, how does money laundering work?
2. How can connections between money laundering and bank fraud be established?
3. By what means would you find out if money were being laundered through your bank?
4. Do you feel that money laundering has any effect on the nation's economy?
5. Organized crime appears to profit from money laundering. What is your establishment doing to deter perpetrators of such criminal acts from choosing your bank to launder their money through?
6. Do weapons exist that might enable banks to intercept complicated and networked financial fraud in process within and outside the finance sector?
7. Does your bank have in place any observation systems that might signal the brewing of financial fraud among your employees, customers and multi-parties?
CHEQUE BANKING
1. How tamper-proof are bank checks?
2. If a customer has received a bad check, how may he or she handle it?
3. How does pursuing criminal prosecution on a bad check work?
4. Are there situations in which bad check might legally be collected on?
5. Under what circumstances could arrest warrant be issued on a person responsible for writing a bad check?
6. When is writing a bad check considered to be a felony? ONLINE AND ATM BANKING 1. In your own words, what is the meaning of banking fraud? 2. Who are the people involved in banking fraud? 3. What kinds of cards do clients normally hold? Debit? Credit? 4. How can you describe the frequency of client deposits and withdrawals in their account? 5. Are their circumstances under which depositors might not get their deposit ticket/receipt? 6. How secure is the PIN (personal identification number)? 7. How does your bank support clients who perform their banking transactions from devices? 8. Do clients keep track of their account balances every time they use the card issued to them by your bank? 9. How does your bank monitor the behavior of each online banking customer? 10. Does your bank train its clients in detecting bank fraud? 11. Do clients use checkbooks? If yes, how secure is it? 12. Could banking card frequency of use be directly or indirectly associated with any potentials for fraud? 13. To what extent is antivirus software effective in assisting your bank and its customers to combat fraud? 14. Could less online banking and online shopping reduce bank fraud? 15. How may a bank improve its processes based on financial fraud experienced by it or by other banks?
16. ATM (Automated Telloer Machines) and debit cards are being targeted by criminals using skimming/cloning devices. What is your bank doing to protect customers against this type of fraud? 17. How do you feel about placing warning signs on ATMs to help customers be able to spot skimming/cloning devices? 18. How do customers protect their ATM PIN?
IDENTITY THEFT
1. Is your bank obliged to help its customers who fall victim to identity theft? How may your bank help such customers to clear their names?
2. How does your bank's fraud preventive systems protect its customers from becoming potential victims of identity theft?
3. Identity theft is a type of bank fraud that thousands of individuals fall victim to every year. Do you feel that it is time for stiffer punishment to be placed on the perpetrators of these particular type of financial crime?
4. In recent years, white collar crimes have been on the rise. This type of bank fraud is generally harder to spot. Are the employees at your bank receiving additional training to help them be able to better identify this type of fraud?
5. There is a type of bank fraud called "phishing" or e-mail scamming. Criminals attempt to gain personal information from customers over the internet by using actual banks as fronts for their illegal activities. How well is your establishment prepared to combat this type of crime?
6. There have been instances where thieves have been able to hack into the vital records of banks. How can you assure your customers that their banking and personal information is safe?

 

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M927614

Have any Question?


Related Questions in Basic Finance

Question utilizing the concepts learned throughout the

Question: Utilizing the concepts learned throughout the course, write a Final Paper on one of the following scenarios: • Option One: You are a consultant with 10 years experience in the health care insurance industry. A ...

Discussion your initial discussion thread is due on day 3

Discussion: Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your r ...

Question financial ratios analysis and comparison

Question: Financial Ratios Analysis and Comparison Paper Prior to completing this assignment, review Chapter 10 and 12 in your course text. You are a mid-level manager in a health care organization and you have been aske ...

Grant technologies needs 300000 to pay its supplier grants

Grant Technologies needs $300,000 to pay its supplier. Grant's bank is offering a 210-day simple interest loan with a quoted interest rate of 11 percent and a 20 percent compensating balance requirement. Assuming there a ...

Franks is looking at a new sausage system with an installed

Franks is looking at a new sausage system with an installed cost of $375,000. This cost will be depreciated straight-line to zero over the project's five-year life, at the end of which the sausage system can be scrapped ...

Market-value ratios garret industries has a priceearnings

(?Market-value ratios?) Garret Industries has a? price/earnings ratio of 19.46X a. If? Garret's earnings per share is ?$1.65?, what is the price per share of? Garret's stock? b. Using the price per share you found in par ...

You are planning to make annual deposits of 4440 into a

You are planning to make annual deposits of $4,440 into a retirement account that pays 9 percent interest compounded monthly. How large will your account balance be in 32 years?  (Do not round intermediate calculations a ...

One year ago you bought a put option on 125000 euros with

One year ago, you bought a put option on 125,000 euros with an expiration date of one year. You paid a premium on the put option of $.05 per unit. The exercise price was $1.36. Assume that one year ago, the spot rate of ...

Common stock versus warrant investment tom baldwin can

Common stock versus warrant investment Tom Baldwin can invest $6,300 in the common stock or the warrants of Lexington Life Insurance. The common stock is currently selling for $30 per share. Its warrants, which provide f ...

Call optionnbspcarol krebs is considering buying 100 shares

Call option  Carol Krebs is considering buying 100 shares of Sooner Products, Inc., at $62 per share. Because she has read that the firm will probably soon receive certain large orders from abroad, she expects the price ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As