What is Skimming? Skimming is a special reading technique that helps you to read quickly and decide whether or not you want to keep reading. Skimming is a great way to read fast and seeing as though we have less time now than ever before, you should learn how to skim and how to write for the skimmers. Is skimming different to scanning? Skimming a text is often confused with the term scannin
Sunday's story in the St. Petersburg Times about corporate tax-credit vouchers mentioned the study that's underway to determine how well voucher kids do academically. But while we wait for the results, the recently released baseline report offers this noteworthy nugget:...
Submitted By: Eric Mabo
Equity stripping is also called equity skimming and some people will term it foreclosure rescue scam, which is when low-income earners face foreclosure. It was late 1999 that some equity scammers took the properties of low-income earners, such as their homes. It happens so because, they took loans and never pay in [...]
One of the most prevailing international troubles that lead to account loss is Credit Cards Skimming. The trouble of account loss to about 1 billion dollars in a year is really the striking factor about skimming. Moreover, credit cards scam is quite popular in Latin America, Asia, and Europe! Seeing this, you could easily [...]
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Synthia Ippolito, 37, Hudson, Florida, was recently convicted of equity fraud. In other words, Ippolito and her now ex-husband Christopher Nickelson, who was previously convicted, schemed to defraud over 20 homeowners who had a large amount of equity in their properties by “equity skimming.” According to media reports, Ippolito would purchase properties by convincing sellers to lend at least half of the purchase price in exchange for promises of …Read More...
http://www.executivefraud.com/Fraud_Blog.php/2007/05/01/asset_misappropriation_skimming
Skimming is the removal of cash for a victim company before the transaction is entered into the accounting system. Since skimming is an off the books type of fraud (it is never recorded) there is no direct audit trail therefore making the fraud difficult to detect. The employees with an opportunity to commit skimming schemes are those who deal directly with customers or those that handle their payments. This article will cover the four main categories of skimming schemes and discuss some of the red flags for detection of the fraud.
Unrecorded Sales
The most common form of skimming is not recording the sale of goods but collecting the money from the customer. Despite controls such as register tape, managers, and surveillance equipment, employees may be able to manipulate the system in order to prevent fraud detection. In some examples of unrecorded sales, the fraudster manipulates the registe
Mark Neusch and Michael Davis were sentenced in connection with an equity skimming scheme. Neusch pled guilty to one count of equity skimming and one count of bankruptcy fraud. Davis pled guilty to one count of equity skimming. Neusch and Davis engaged in a scheme whereby they acquired numerous residential properties by making misrepresentations to property owners to induce them to sign over title to Neusch and …Read More...
To prevent thieves from stealing credit- and debit-card information, Stop & Shop supermarkets make a point of never storing the data. After shoppers swipe their cards at the cash register, the information is transmitted to an outside company for processing. But the Ahold NV unit and its customers learned last month that such [...]
