Investigating Healthcare Fraud: Its Scope, Applicable Laws, and Regulations

Healthcare costs are not only an enormous strain on the U.S. economy but are expected to increase in the foreseeable future. Not surprisingly, clever fraudsters view the healthcare industry as a lucrative and attractive hotspot for illegal activity. Although federal and state governments have increased their funding and prosecution efforts relating to healthcare fraud, this fraud continues to be a major threat to the U.S. economy and every patient and consumer. The impact of healthcare fraud is substantial and far-reaching. Healthcare fraud in the U.S. affects not only the government, but also insurance companies, patients, healthcare providers, and consumers. This Article examines the types of healthcare fraud and the major federal laws used to combat this type of fraud

Protecting CPAs and their clients from estate planning fraud.

The Internal Revenue Service (IRS) recently stated that trust and estate matters are the third highest growth area among the top CPA firms and estimates that by 2015, $4.8 trillion in wealth will be transferred or inherited from one generation to the next (IRS, 2012c). Because of this, estate planning (sometimes referred to as wealth preservation planning) will likely be a topic of discussion for many CPAs and their clients. Although estate planning issues serve to augment CPA revenues, there is a downside; estate planning fraud is on the rise and CPAs must be aware of the inherent problems and warning signs. The purposes of this paper are: (1) to provide a tutorial to CPAs as to the basics of wills and trusts, (2) to educate CPAs as to the diverse methods in which fraud can enter into the estate planning arena, and (3) to provide practical ways that CPAs can be alerted to possible fraudulent situations and specific suggestions to prevent fraud from occurring. Advice is also provided regarding the issue of professional liability protection for CPAs involved in estate planning

Fraud, fraud, fraud: Mortgage fraud and bankruptcy fraud.

It is often said in real estate that location, location, location are the three most important factors in purchasing a piece of real property. Given the recent events in real estate, that age-old axiom may soon be replaced by the phrase fraud, fraud, fraud. This paper examines two types of epidemic fraud stinging homeowners, businesses and the nation- mortgage fraud and bankruptcy fraud

Protecting CPAs and their clients from estate planning fraud.

The Internal Revenue Service (IRS) recently stated that trust and estate matters are the third highest growth area among the top CPA firms and estimates that by 2015, $4.8 trillion in wealth will be transferred or inherited from one generation to the next (IRS, 2012c). Because of this, estate planning (sometimes referred to as wealth preservation planning) will likely be a topic of discussion for many CPAs and their clients. Although estate planning issues serve to augment CPA revenues, there is a downside; estate planning fraud is on the rise and CPAs must be aware of the inherent problems and warning signs. The purposes of this paper are: (1) to provide a tutorial to CPAs as to the basics of wills and trusts, (2) to educate CPAs as to the diverse methods in which fraud can enter into the estate planning arena, and (3) to provide practical ways that CPAs can be alerted to possible fraudulent situations and specific suggestions to prevent fraud from occurring. Advice is also provided regarding the issue of professional liability protection for CPAs involved in estate planning

Certifying Business Courses Through Quality Matters.

Online courses have seen an increase in demand while adding complexity to the learning environment. Therefore, teachers not only face the challenge to offer a quality online learning experience but also to develop online courses efficiently. This article highlights the benefits of certifying courses through Quality Matters (QM), which is one of the quality benchmarks for online courses. It also offers several practical tools that help streamline course design in preparation for the QM review and re-certification process. Two sample QM certified business courses are presented to demonstrate how the different parts of these courses effectively and efficiently apply QM guidelines

There is no free lunch: Understanding and preventing estate planning fraud.

Financial planners are expected to oversee all facets of their clients’ financial affairs, including estate planning. With estate planning fraud on the rise, financial planners, as well as their clients, are exposed to potential trouble. Education of and awareness by financial planners and their clients lies at the heart of preventing this fraud from occurring in the first place. This article provides a tutorial on the basics of wills and trusts, presents red flags that financial planners can use to identify possible fraudulent situations, and offers advice on how to avoid professional liability with regard to estate planning fraud

The use of wills and asset protection trusts in fraud and other financial crimes.

According to the Internal Revenue Service, 2.9 million Form 1041 (domestic trust) tax returns were filed in 2009. It is predicted that beneficiaries will receive wealth transfers in the tens of billions passing via trusts. Accompanying this growth has been a proliferation of abusive estate planning, such as asset protection trust schemes to reduce income and tax liability; illegal techniques to depreciate personal assets, deduct personal expenses, and underreport income; and participation in money laundering. This Article highlights and analyzes wealth transfer and preservation fraud and trust schemes, scrutinizes both offshore and domestic asset protection trusts, and provides red flags of fraud to assist in the prevention and detection of wealth transfer and preservation fraud schemes

The use of wills and asset protection trusts in fraud and other financial crimes.

According to the Internal Revenue Service, 2.9 million Form 1041 (domestic trust) tax returns were filed in 2009. It is predicted that beneficiaries will receive wealth transfers in the tens of billions passing via trusts. Accompanying this growth has been a proliferation of abusive estate planning, such as asset protection trust schemes to reduce income and tax liability; illegal techniques to depreciate personal assets, deduct personal expenses, and underreport income; and participation in money laundering. This Article highlights and analyzes wealth transfer and preservation fraud and trust schemes, scrutinizes both offshore and domestic asset protection trusts, and provides red flags of fraud to assist in the prevention and detection of wealth transfer and preservation fraud schemes