Exam 17: Bankruptcy, Divorce, Identity Theft

Describe the phishing process.

Which chapter applies to farmers and those in fishing business?

Divorce fraud is very similar to bankruptcy fraud in that in both divorce and in bankruptcy a court may divide up the assets of some estate.

Consumers are entitled to obtain free credit reports each year from the 3 largest U.S. credit card bureaus.

Fraudulent conveyances typically involved unqualified persons offering fee-based financial advice, credit counseling, and bankruptcy-filing services.

How does the concealment of assets fraud occur in bankruptcy?

Explain how involuntary bankruptcy can occur and give an example of how it can be abused.

What are financial institutions required to do for consumers when they are filing negative information against them?

What are five things that a forensic accountant can look for in a tax return that will lead to the discovery of hidden assets? E. (income from rental properties, royalties, and estates and trusts, partnerships, and S corporations). Verify the dispositions of the underlying assets. Also, activity loss carryovers should be treated as an asset.