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Acc 3023 Fraud Paper

By:   •  September 11, 2018  •  Coursework  •  637 Words (3 Pages)  •  314 Views

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ACC 3023

10-1-17

Fraud Paper

By definition, fraud is any means a person uses to gain an unfair advantage over another person. It may be by a false statement, representation, an intent to deceive, a victim, etc. Fraud is a white-collar crime that can be separated into two categories: misappropriation of assets and fraudulent financial reporting. Fraud can affect any person ranging from a teenager with a debit card to a 55-year-old adult, and even a giant multimillion-dollar corporation. Many laws have been passed over the years in order to combat these fraud cases as they are not to be taken lightly. A case of fraud can impact the life of a person, decrease a company's stock prices, and even harm a reputation. It is vital to prevent acts of fraud before they can occur.

Office Space

1.) The fraud committed in this movie falls under the misappropriation of assets category. Peter and his friends steal money from the company through a software virus. They infected the company's software program with this virus that would take a fraction of a penny on every transaction made. The miniscule size of the amount taken per transaction was to be so small it would go unnoticed. Even though it is only a small fraction, thousands of transactions add up. Unfortunately for them, the plan went wrong and a decimal point was off.

2.) For there to be fraud, there must be three conditions in place. These three roles invole: pressure, opportunity, and rationalization.

Pressure: In the movie, there is employee pressure amongst the group of guys. Peter is fed up with his lifestyle that he feels like he must immediately make a change. He is tired, uncomfortable at work, and far unhappy. Being that they are all friends, peer pressure is of course, present. Peter lets Samir and Michael know that they are going to get let off so it sets off a panic.

Opportunity: Peter's friend, Michael, is advanced in software and has knowledge to infect the system with his virus. His other friend along with Michael are both laid off from their company, so they are willing to take this "fail proof" risk to gain a substantial amount of money.

Rationalize: Peter's attitude took its own life after his visit to the therapist. He began to do whatever he pleased and was not fazed by any work obligation. His feelings towards his boss and workplace resulted in his irrational behavior.

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