This article discusses the various types of frauds committed in India and abroad. It also details the role played by the forensic accountant in unfolding the fraud during the investigation process and also outlines the modus operandi of forensic accountants in case of cyber crimes.

Fraud may manifest in multiple forms. The Canadian Institute of Chartered Accountants defines fraud as a deliberate act of deceit resorted to by senior members of the management or by the employees who are in charge of governance or third parties in order to secure an illegal advantage. The activities can include: forging important documents, cooking up financial information, misappropriation of cash/stock and money laundering.

Several brokerage firms in India are known for advising the investors in such an uncanny manner that it is difficult to perceive how the investors are being misled by their wrong advice. In USA, such incidents have taken place and the brokerage firms that involved in the above said fraud include: JP Morgan Chase, Morgan Stanley and Credit Suisse.

The telemarketing project of an US-based credit card company was just about to be completed, when an internal audit conducted at the Wipro call center in Mumbai, India, brought to light, the collective scam of the call agents. As many as 60 call-center agents had joined together and had been scamming American consumers for two months by making fraudulent claims about membership fees and gifts. (Source: http://www.India Forensic.com/)

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