The term 'bleed' in a legal and financial context refers to the act of extracting an excessive amount of money or other valuable assets from a person, typically through threats or intimidation, making it a type of extortion.
Carousel fraud is a type of criminal scheme commonly involving cross-border transactions within the European Union (EU), where fraudsters exploit the VAT system to steal large amounts of money.
Check kiting is an illegal scheme that occurs when individuals establish a false line of credit by exploiting the delay in the check clearing process between different banks.
Embezzlement is the fraudulent appropriation, for one's own use, of property lawfully in one's possession. It is a type of larceny often associated with bank employees, public officials, or officers of organizations, who in the course of their lawful activities, come into possession of property, such as money, actually owned by others.
Insider trading refers to the practice of trading a company's securities by individuals who have access to confidential or non-public information about the company. This practice is illegal under various laws and regulations worldwide.
Loan fraud involves intentionally providing false information on a loan application to qualify for a loan. This can lead to civil liability or criminal penalties.
The Madoff Scandal was the largest Ponzi scheme in history, operated by Bernard Madoff, which resulted in estimated client losses of nearly $65 billion.
Money laundering is the illicit process of concealing the origins of money obtained from criminal activities, typically by means involving foreign banks or complex transactions, making it appear as though it were acquired legally.
Peculation is the fraudulent misappropriation of money or goods entrusted to one's care, often involving public funds or resources. This act is closely related to embezzlement, but typically refers to the misuse of funds by public officials.
The Serious Fraud Office (SFO) is a specialized government department in the United Kingdom dedicated to investigating and prosecuting serious or complex fraud, bribery, and corruption.
Tax evasion is the illegal act of deliberately misrepresenting or not reporting income to reduce tax liabilities. This practice involves concealing income, inflating deductions, or using deceptive methods to evade tax obligations.
Teeming and lading, often seen as just 'teeming and lading,' is an accounting fraud method where receipts or payments are delayed in recording to cover up cash shortages caused by theft or employee fraud.
