Fraud - McGraw-Hill Introduction to Business

Wells Fargo Fires More Than 5,000 Employees for Fraud

September 12, 2016

Last week regulators at the Consumer Financial Protection Bureau (CFPB) dropped a bombshell that surely shocked anyone with a bank account at Wells Fargo. According to the CFPB, employees at the bank created more than 1.5 million phony accounts over the years in order to fraudulently reach sales targets and earn fees. This “widespread” practice resulted in the recent firing of approximately 5,300 Wells Fargo employees. Regulators also hit the bank with a fine of $185 million along with $5 Continue reading →

Ethics, Banking, Regulation, Fraud, Wells Fargo, Consumer Financial Protection Bureau

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 7: Management & Leadership, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law

Chinese Movie Theaters Enjoy Box Office Boom

May 13, 2016

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American movie theaters have endured a rough couple of years as more consumers turn to the comfort of their living rooms as venues for entertainment. That’s far from the case in China, however. The Asian nation has become an increasingly important source of revenue for U.S. movie studios that have seen domestic receipts start to dwindle. In February Chinese theaters earned $1.05 billion at the box office, beating the American tally by nearly $250 million.

Still, China isn’t exactly an Continue reading →

China, Entertainment, Regulation, Movies, Fraud, Ethics, Global

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

Beware of Deceptive Crowdfunding Campaigns

March 21, 2016

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For years crowdfunding websites have given regular people a platform to finance their personal causes. GoFundMe, for instance, adds 100,000 campaigns to its site each month. Most people are looking to raise money to combat a crisis, such as paying for medical bills or funeral expenses. Together these campaigns have raised more than $2 billion on GoFundMe alone, with more than half of that amount coming in the last 9 months. In fact, analysts expect that crowdfunding donations will grow Continue reading →

Fraud, Charity, GoFundMe, Financing, Regulation, Crowdfunding, Ethics

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media