BUS 207 Chapter Notes - Chapter 6: Foreign Corrupt Practices Act, Mail And Wire Fraud, Telemarketing Fraud

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Liability without fault (strict liability): a legal term that imposes responsibility for damages regardless of the existence of negligence: ex. White-collar crime: white-collar crime: a variety of nonviolent illegal acts against society that occur most frequently in the business context, ex. : mail fraud, bribery, embezzlement, computer crimes: five ways of punishment. Incarceration: community service, disqualification from employment, house arrest. Just before the checks are returned for payment to the first bank, the kiter covers them by depositing checks drawn on the account in the second bank. Due to the delay created by the collection of funds by one bank from the other, known as the float time, an artificial balance is created: pretexting: using fraudulent means to obtain information about someone"s phone use. False pretense: the illegal obtaining of another"s property by making a materially false representation of an existing fact, with knowledge of the falsity of the representation and with the intent to defraud.

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