White collar crime.

Do some research on the Fraud Triangle. Provide an overview of the fraud triangle.

Do some research on Amy Wilson. Provide an overview of the Amy Wilson case.

Find another example of a fraud case. Provide an overview of your case.

Name: _____________________
Date: ___
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Assignment 6.
FRAUD TRIANGLE
Save this file as a PDF with your First Initial Last Name and “Assn 6.PDF”. Example: Jeff Bezos
would save the files as “J Bezos Assn 6.PDF”
Please complete the assignment on this paper (type your answers on this paper.) Use your own words
/ don’t copy & paste. Remember to cite / list sources you used. Make sure to list your sources when
you use them (directly by the text) and at the end of the paper in a works cited section.
Submit in the “Assn 6” assignment area on D2L no later than is indicated in the “Course Schedule”
area on the syllabus.
Do some research on the Fraud Triangle.
One resource is: https://www.agacgfm.org/Intergov/Fraud-Prevention/Fraud-AwarenessMitigation/FraudTriangle.aspx
Use at least 2 other sources (note that the fraud triangle includes Pressure, Opportunity, and
Rationalization – some cites may use different terms – but they are getting at the same thing)
Provide an overview of the fraud triangle:
The fraud triangle is a concept that tries to explain the reason behind a fraud. It is a common notion that a
person who is involved with fraud is motivated by three elements coming together, i.e. Motivation, opportunity,
and rationalization.
Fraud is an unethical action that relies on deceit to obtain a benefit. When a substantial truth is concealed to
persuade someone to behave in a way that would do them harm, fraud becomes a crime. In other words, lying to
deprive a company, person, or entity of their assets or money is deemed to be committing fraud. There may be a
variety of reasons why people commit fraud, but “The Fraud Triangle” was introduced by Dr. Donald Cressey
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and Steve Albrecht, an American criminologist, sociologist, and penologist who made significant and
groundbreaking contributions to the study of organized crime and criminology (Association of Certified Fraud
Examiners, 2023).
The Fraud Triangle aids in identifying the circumstances that increase the likelihood of fraud. The fraud
triangle, as described by Albrecht, asserts that “individuals are motivated to commit fraud when three elements
come together: some kind of perceived pressure, some sort of perceived opportunity, and some way to
rationalize the fraud as not being inconsistent with one’s values.” The fraud triangle is still frequently used by
experts to identify the conditions that could lead people or organizations to become involved in fraud. The
economic circumstances that could increase total risk are also highlighted by the fraud triangle. As indicated
above, motive, opportunity, and rationalization are three variables that antifraud specialists search for to help
them detect risks (NWC, 2023).
Fraud Triangle helps to predict the conditions that lead to high risk of fraud. According to Albrecht, the fraud
triangle states that “individuals are motivated to commit fraud when three elements come together: some sort of
perceived pressure, some perceived opportunity and some way to rationalize the fraud as not being inconsistent
with one’s values.” As per today, the fraud triangle is widely used by professionals to explain circumstances that
could motivated individuals or organizations to commit fraud. The fraud triangle also highlights the economic
conditions that could lead to overall risk. The antifraud professionals look for the presence of following factors
to help identify risks: motivation, opportunity and rationalization as mentioned above (NWC, 2023).
Essentially, the three elements of fraud triangle are opportunity, pressure and rationalization and for fraud to
occur, all three elements must be present. We shall further discuss them briefly now. fraudsters rarely act as a
direct result of their personal traits; rather, their behavior is influenced by their environment.(AGA, 2023).
Do some research on Amy Wilson. Use at least 2 other sources in addition to the 1 below (4 sources
minimum.)
One resource is: https://www.attestationupdate.com/2013/03/11/one-accountants-journey-through-fraudjailand-rebuilding/
Another is: https://www.marketwatch.com/story/amy-wilson-an-office-manager-who-embezzled-3500002014-0729#:~:text=Amy%20Wilson%2C%2046%2C%20could%20easily,worked%20as%20an%20office%20manager.
Update 1-12-23: it appears that the numerous videos on Amy Wilson have been removed from YouTube.
Page 2 of 6
Let me know if you find any video links.
Provide an overview of the Amy Wilson case:
Amy Wilson was an office manager in a family-owned business. In her role, she acted as an accountant for the
company where she helped matters taxation and other accounts related activity. The company she worked for
did not have internal control checks, to Amy she considered is as an opportunity. She began stealing from the
company when her 18 years old son was involved in crime. To get the fees needed to hire a lawyer she stole
from the company. Over time, stealing became a habit, where she would steal to offset her family members’
bills. For her being able to take care of her parents and other family members’ bills was satisfying. By the time
she was caught, she had already embezzled approximately $350,000. She embezzled approximately $350,000
Over the course of around four years.
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Describe the Amy Wilson case in terms of the Fraud Triangle:
Pressure:
The embezzlement of funds by Amy resulted from financial pressures she had at that time to hire a lawyer to git
her sin out of trouble. That was the pressure she felt at that time.
Opportunity:
Any type of organizational or systemic vulnerability might present a fraud opportunity. Because there were no
internal control systems in place at the family-owned business where Amy Wilson’s was working, she was able
to steal easily. As an office manager she had access to all bank accounts, she was a trustworthy and reliable
staff. Also due to lack of segregation of duties, it became very easy opportunity for Amy to commit fraud
without being noticed.
Rationalization:
Usually, fraudsters rationalize their actions into two aspects. The first aspect is when a fraudster realizes that the
gain from committing fraud is way greater than the possibility of being caught. Let’s apply the first aspect to
Amy Wilson case, Amy gained or embezzled approximately $350,000 over the course of around four years. The
second aspect is that the fraudster needs to justify the fraud. Let’s apply the second aspect to Amy Wilson case,
Amy had a sense of entitlement since she spent a fair amount of time working for this family-owned business
and that made her feel that she deserved more. Also she worked harder and spent more time at work to justify
the fraud she committed after embezzling enough money to hire a lawyer to s to justify the fraud he committed
to herself.
Works cited for the Amy Wilson case:
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https://theturnaroundauthority.com/tag/amy-wilson/ https://www.attestationupdate.com/2013/03/26/fraudtriangle-a-case-study/ https://bentoforbusiness.com/expense-management/fraud-detection-case-study/
https://www.marketwatch.com/story/amy-wilson-an-office-manager-who-embezzled-350000-20140729#:~:text=Amy%20Wilson%2C%2046%2C%20could%20easily,worked%20as%20an%20office%20manag
er.
https://www.attestationupdate.com/2013/03/11/one-accountants-journey-through-fraud-jail-and rebuilding/
https://casetext.com/case/us-v-wilson-268
https://theturnaroundauthority.com/tag/amy-wilson/
http://www.theprosandthecons.com/articles/GDZ_Amy_Wilson_bio.pdf
Find another example of a fraud case:
https://scholarworks.uark.edu/cgi/viewcontent.cgi?article=1072&context=finnuht
List the name / title here:
Theranos: Case study and examination of fraud triangle
Provide an overview of your case:
Theranos was a company that was founded by Elizabeth Holmes. Holmes believed she had developed a
technology that would revolutionize modern health. Earlier own, she had shared the Thera patch idea with his
professor at Stanford. The professor disapproved it as impractical, nonetheless, Homes continued with the idea
and found a company that claimed to develop equipment termed as medical laboratory on a chip. The machine
was believed to carry out medical sampling and diagnostics using a single drop of blood.
Overtime, the company became successful attracting a lot of investors and Holmes being considered to be the
youngest self-made billionaire. However, skepticism began to rise around the said technology. After an article
was published highlighting the lies that were being perpetuated by the company, an investigation was done by
various stakeholders. In 2018, Theranos, Holmes and Ramesh were formally charged by securities and
exchange commissions.
Holmes has since been found guilty of two counts of wire fraud against investors.
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Describe your case in terms of the Fraud Triangle:
Pressure:
Holmes wanted to make it in life. Having enrolled in a prestigious university, she believed she had an idea that
was revolutionary. In the process she ended up creating a device that thrived on lies since it could not
accomplish what she claimed it could.
Opportunity:
There was a gap in the medical field whereby most laboratory tests and cumbersome and time consuming.
Holmes identified the gap and came up with an idea that would “revolutionize” lab technology.
Rationalization:
She believed she was doing good to humanity by developing a technology that would improve on healthcare.
Works cited for your case:
https://scholarworks.uark.edu/cgi/viewcontent.cgi?article=1072&context=finnuht
Page 6 of 6
Name: ________________________________________
Date: __________________
Assignment 6.
FRAUD TRIANGLE
Save this file as a PDF with your First Initial Last Name and “Assn 6.PDF”. Example: Jeff Bezos
would save the files as “J Bezos Assn 6.PDF”
Please complete the assignment on this paper (type your answers on this paper.) Use your own
words / don’t copy & paste. Remember to cite / list sources you used. Make sure to list your sources
when you use them (directly by the text) and at the end of the paper in a works cited section.
Submit in the “Assn 6” assignment area on D2L no later than is indicated in the “Course Schedule”
area on the syllabus.
Do some research on the Fraud Triangle.
One resource is: https://www.agacgfm.org/Intergov/Fraud-Prevention/Fraud-Awareness-Mitigation/FraudTriangle.aspx
Use at least 2 other sources (note that the fraud triangle includes Pressure, Opportunity, and Rationalization – some cites may use different terms – but they are getting at the same thing)
Provide an overview of the fraud triangle:
Type it here….
Do some research on Amy Wilson. Use at least 2 other sources in addition to the 1 below (4 sources
minimum.)
Page 1 of 4
One resource is: https://www.attestationupdate.com/2013/03/11/one-accountants-journey-through-fraud-jailand-rebuilding/
Another is:
https://www.marketwatch.com/story/amy-wilson-an-office-manager-who-embezzled-350000-2014-0729#:~:text=Amy%20Wilson%2C%2046%2C%20could%20easily,worked%20as%20an%20office%20manager.
Update 1-12-23: it appears that the numerous videos on Amy Wilson have been removed from YouTube.
Let me know if you find any video links.
Provide an overview of the Amy Wilson case:
Type it here….
Page 2 of 4
Describe the Amy Wilson case in terms of the Fraud Triangle:
Pressure:
Type it here….
Opportunity:
Type it here….
Rationalization:
Type it here….
Works cited for the Amy Wilson case:
Find another example of a fraud case:
Page 3 of 4
List the name / title here:
Provide an overview of your case:
Type it here….
Describe your case in terms of the Fraud Triangle:
Pressure:
Type it here….
Opportunity:
Type it here….
Rationalization:
Type it here….
Works cited for your case:
Page 4 of 4