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Understanding Fraud: A Quiz on Notable Scams and Tactics

This quiz tests knowledge on various notable scams and fraudulent practices, exploring key figures and concepts in the context of fraud.

#Fraud #Scams #Phishing #Counterfeiting #Ponzi schemes #Enron #Barry Minkow #Financial crime

1 ________, attempt to fraudulently acquire sensitive information

2 ________ and the ZZZZ Best scam.

3 selling ________ goods which are not what they claim to be, e.g., designer clothing, fake works of art, archaeological objects, etc.

4 ________, creator of a $65 billion Ponzi scheme - the largest investor fraud ever attributed to a single individual.

5 Cassie Chadwick, who pretended to be ________'s daughter to get loans.

6 Ramón Báez Figueroa, banker from the ________ and former president of Banco Intercontinental.

7 ________, founder of WorldCom, which inflated its asset statements by about $11 billion.

8 Defrauding people or entities of ________ or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g.

9 ________, for example selling of products known not to be effective, such as quack medicines,

10 Kenneth Lay, the American businessman who built energy company ________.

💡 Interesting Facts

  • the pyramid scheme Holiday Magic was investigated by the State of California, the US Securities and Exchange Commission and the Federal Trade Commission and shut down for fraud.
  • the Fraud Enforcement and Recovery Act of 2009, which was signed into law on May 20, gives an additional 165 million USD in funding to the Justice Department to detect and prosecute fraud.
  • the gasoline pill is one of several fictitious or fraudulent inventions that claim to turn water into gasoline.
  • the scandals involving the British fraud and impostor Lord Gordon-Gordon led to a major international incident between the US and Canada.
  • Aradia, or the Gospel of the Witches, an 1899 book by Charles Godfrey Leland, was one of the foundational texts of Wicca, but has been suspected of being a fraud.
  • Nicolas-Charles Bochsa, who helped found the Royal Academy of Music in 1822, was only in London because he had fled France five years earlier to avoid prosecution for multiple counts of forgery and fraud.
  • British Labour politician Fiona Jones was disqualified from the House of Commons when she was convicted for submitting fraudulent election expense returns, but was later reinstated.
  • American Chabad Rabbi Moshe Rubashkin has been convicted of fraud twice.
  • First Command Financial Planning, Inc., a financial services company that caters to the U.S. military, was found "willfully" non-compliant related to fraudulent activities in its marketing.
  • Oregon attorney Parish L. Willis was sued for fraud over his investment in the Hot Lake Sanatorium Company, now listed as a historic place.
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    #Forgery #Counterfeiting #Fraud #Art forgery #Kabbalah #History