Posted by Melissa Nomani.

Farmers across the United States are filing suits against Syngenta. As stated in the article, “The lawsuits allege the biotechnology company’s genetically modified Agrisure Viptera and Duracade seeds contaminated US corn shipments, making them unacceptable for export to China.” China does not allow the importation of GMO products that it has not tested. In February of 2014, China learned that the corn shipments from the U.S. contained Viptera. Agrisure Viptera is a seed that is genetically modified (known as MIR162) to prevent damage to crops by earworms and cutworms. As a result, China has rejected corn imports from the U.S.

Over 1,800 suits have been filed. Lawsuits filed against Syngenta state that the company put seeds on the market even though there was no approval from foreign markets. This has led to some farms having great financial losses. Even farmers who do not use GMO seeds could be affected due to accidental contamination from other fields. Syngenta has tried to refute the lawsuits by stating that they are not responsible for protecting farmers from GMO seeds. This arguments were rejected in September by Judge Lungstrum, who refused to dismiss the suits.

It has been estimated by The National Grain and Feed Association that as of April 2014 almost $3.0 billion worth of losses were caused by Syngenta’s Agrisure Viptera MIT162 corn seed.

The first of the lawsuits are expected to go to trial in June 2017.

Melissa is a finance major at the Stillman School of Business, Seton Hall University, Class of 2018.

Online fraud is alive and well. About 4,550 people have been scammed by foreigners posing as IRS personnel and telling them they are about to be sued for unpaid taxes. The Treasury Inspector General, J. Russell George indicated they are working on bringing to justice the perpetrators of “‘the largest of its kind’” scam, yet taxpayers are urged to remain on “‘high alert.’”

According to George, a scammer will call an unsuspecting individual, claiming to be from the IRS. The “scammer tells the person that they have unpaid taxes and threatens him or her with a criminal violation, immediate arrest, deportation or loss of a business or driver’s license unless they settle the fees via a debit card or a wire transfer.” People have a hard time telling whether the call is legitimate because the scammers either use a robocall machine that leaves a message stating it is the IRS and they are being sued, or callers giving the last four digits of the victim’s social security number, or fake emails appearing to come from the IRS.

One of the ringleaders officials caught, Sahil Patel, is serving a 14 year sentence in federal prison for organizing call centers based in India, as part of the U.S. side of the scam.

Posted by Charles Batikha.

Tamira Fonville was a Mesa Airlines employee and part time recruiter for a hair show, but these were both false lives that Fonville was leading. Fonville spent her time along the east coast from New York to Washington D.C. trying to lure women to expose their financial information by fraudulently posing as a hair show recruiter wanting to hire young women. Unfortunately, there was no show and Fonville was not a recruiter, nor an airline employee. By the end, she caught herself in an addiction she could not stop, between signing off bouncing checks and scamming women; she was bound to get caught.

Ricardo Falana was Fonville’s assistant.  Before the banks would know what was happening, they both would wipe accounts clean. Foneville would ask the girls for their bank account information, lying, saying she wanted to deposit checks into their account. Once the checks were deposited, the account would be emptied before the banks could be any wiser. For individuals that were too smart to be scammed, Tamira would offer them a piece of the pie. These individuals were even “coached” to lie to bank employees, telling them their credit cards had been stolen. The problem was the piece of the pie that they were waiting for never came. After some time, these women came forward as victims.

Young women were not the only ones that Fonville scammed. She applied for a car loan under the impression of being an employee of Mesa Airlines with a $65,000 salary. Tamira used $30,000 to pay for her Chevy Camero, plastic surgery and her New York apartment. While she was living this lavish life, Fonville also was living off food stamps, while having her student loans, totaling up to $100,000, deferred.

Tamira was arrested in August 2014, said to have profited over $200,000 from the scams. She was sentenced 15 months for conspiracy to commit bank fraud as well as 3 cases of bank fraud. Falana, Tamira’s assistant, was sentenced to 80 months after pleading guilty to similar bank fraud charges.

Charles is a graduate accounting student with a certificate in forensic accounting at the Feliciano School of Business, Montclair State University.

The President signed into law a bill passed by Congress banning U.S. imports of “fish caught by slaves in Southeast Asia, gold mined by children in Africa, and garments sewn by abused women in Bangladesh.” The law closes a loophole in an 85-year-old tariff law which allowed these products to be sold.

Due to high demand of certain products, the previous law allowed these goods to be sold in the U.S. regardless if they were produced by slave labor. Sen. Sherrod Brown has pressed U.S. Customs to make sure the law is enforced.  He said, “It’s embarrassing that for 85 years, the United States let products made with forced labor into this country, and closing this loophole gives the U.S. an important tool to fight global slavery.”

Posted by Michael Larkin.

When one checks into a hotel, one would expect to have their information stored in a company’s database, but one would not expect that database to get compromised. Wyndham Worldwide Corporation was using a property management system that stored customer’s names, addresses, and credit card number. On three separate occasions in 2008 and 2009, Wyndham was hacked and this information was pulled off of over 600,000 accounts. Damage was approximately $10.6 million and the Federal Trade Commission (FTC) brought Wyndham to trial.

Even though Wyndham was the company that got hacked, it was the customers who got hurt and that is why the FTC filed against Wyndham. The FTC argued that the hacks were caused due the very limited security that the management system used. It was found that the credit card numbers could easily be read, passwords were easy to guess, and a firewall was not deployed along with various other issues. Wyndham argued that the FTC had no right to file a suit against them and that the unfairness and deception claims were not sufficiently validated. It was founded that Wyndham didn’t provide a fair system for its customers and the court required the company to change in order to protect its customers. Mainly, Wyndham needs a more comprehensive security program in order to protect account information and also conduct annual information security audits and maintain a safeguard for its servers.

This case was a matter of protection and privacy for the company’s customers. A customer is providing personal information in order to engage in business so Wyndham has a duty to protect that information. Having a higher security will ensure that hackers will not be able to breach the system and steal information. The FTC won the trial, and in doing so, made sure that a company had a high security to protect the customers.

Michael is a finance major at the Stillman School of Business, Seton Hall University, Class of 2019.

Sources:

FTC v. Wyndham Worldwide Corp.

Verdict From: https://www.ftc.gov/news-events/press-releases/2015/12/wyndham-settles-ftc-charges-it-unfairly-placed-consumers-payment

Research proposal posted by Brian Kane.

In the digital age, the rights and laws regarding privacy are being contested now more than ever. Today personal privacy, both digital and physical, is being discussed. One of the earliest examples of privacy laws in the United States is the 4^th amendment. Under this amendment gives “the right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures” (Fourth Amendment, U.S. Constitution). This and other laws, including the Federal Wiretap Law of 1968, are designed to protect the individual against unlawful searches of personal property by an unfair government. The individual right to privacy is held sacred in this country.

However, the laws of privacy protection are not absolute. Communications and interactions in general areas, such as online chatrooms, and digital communication used for work. Surveillance monitoring by employers has been contested by employees in courts in multiple cases. In City of Ontario, California v. Quon, for example, a search was justified because there were “reasonable grounds” and done “for a non-investigatory work-related purpose” (Ontario v. Quon).

Some argue that the privacy laws are for the best interests of individuals. Individuals and consumers are protected when the monitoring parties have clearly defined limits and barriers. When the government requires search warrants and the corporations are required to obtain consent, the best interests of those being monitored are kept in mind. The constant surveillance by powerful entities removes the right for individuals to act freely and live their own lifestyle. Gratuitous monitoring dehumanizes the employee and implies guilt without any evidence.

Privacy law is not completely virtuous, however. Like all laws, some may seek to exploit privacy law and use it to shield unproductive, immoral, and unethical behavior. When employees use corporate email accounts for personal business, they often claim a right to privacy when investigation begins. Many act recklessly online in this digital age, assuming that the right to privacy is absolute and unbreakable. There are instances where there is legitimate reasons to investigate an individual. When there is probable cause, public good supersedes individual privacy.

The issue of privacy and surveillance laws raises many ethical questions. The rights of individuals and the definition of individualism is put into question when anyone is monitored by a third party. There is concern for the maintenance of human dignity, as some see these searches dehumanizing and distressing on private lives. Pope Leo XIII spoke out against increased surveillance, saying that it intruded and lead to control over individuals. In Catholicism, the holy sacrament of confession revolves around the private recounting of sins and transgressions. When discussing privacy, the matter common good is raised. Aquinas believes that law is created for the common good, “made by him who has the care of the community and promulgated” (2 Bix).

Privacy and Surveillance Law is a widely contested issue in the catholic faith and general ethics. It has its advantages and disadvantages, as any other issue in law, but it will continue to be contested as new innovations shape the information age.

Works Cited

Bix, Brian H. “Secrecy and the Nature of Law.” October 2013. University of Pennsylvania School, Center for Ethics and the Rule of Law. Web. 3/3/2016. Avaliable: https://www.law.upenn.edu/live/files/2418-bixsecrecy-and-the-nature-of-law-full

City of Ontario v. Quon. 560 U.S. 746. Accessed 3/3/2016.

Posted by Stephen D’Angelo.

Friday morning, two days after the judge presiding the Uber class action lawsuit decided that drivers attempting to arbitrate can be included in the law suit, Uber sent drivers a new agreement. The document undermined the judge’s ruling by revising the arbitration clause.

Liss-Riordan and her team are filing an emergency motion that will be heard in front of Judge Edward Chen next Thursday; it asks the court to block Uber from enforcing this new driver agreement. “Uber has tried to fix the problem that Judge Chen ruled made the agreement unenforceable,” Liss Riordan told TechCrunch in an email.. The Private Attorney General Act gives “a private citizen the right to pursue fines that would normally only be available to the State of California. It also allows that private citizen to “seek civil penalties not only for violations that he personally suffered” but also for violations of “other current or former employees.”

According to Chen’s Wednesday ruling, the Uber driver agreement of 2014 and 2015 illegally waived drivers’ rights under PAGA, which informed Judge Chen’s decision that the arbitration clause could not be honored because it contained an illegal provision. This was the reason for the provision of the agreement, to quickly remove the illegality and include new provisions to the agreement.

The Private Attorney General Act protects uber drivers from what uber has tried to prevent, a large action against the company. Uber has agreed to resolve any claim against the company but only on an individual basis. Uber’s driver agreement provision also attempts to prevent workers from participating in any class collective or representative action against the company. Uber also rewrote the agreement to remove a requirement that arbitration between a driver and the company remain confidential. The language makes it clear that the agreement goes into effect only when a driver accepts it  not when a revision is published, therefore, protecting drivers who previously signed the agreement.

Stephen is an accounting major at the Feliciano School of Business, Montclair State University, Class of 2017.

Posted by Kimberly Culcay.

In the article, “What Types of Legal Cases Require a Forensic Accountant,” Henry Rinder describes what a forensic accountant really is and the need for such a professional. The article discusses that there is a difference between a traditional accountant and a forensic accountant. A forensic accountant combines accounting knowledge and legal expertise to help their clients, from individuals to small and large businesses. The forensic accountant is a person that exhibits a curiosity that allows him or her to figure out if a company is hiding something. Some of the legal cases that require forensic accounting are criminal investigations, fraud, shareholder disputes, and divorce. For example, it is common in divorce cases for one party to hide assets to prevent splitting up everything they have.

In criminal investigations forensic accountants help find key elements to help law enforcement officers investigate crimes. Forensic accountants have some duties when being involved in criminal investigations, such as analyzing personal and business documents, tracing and recovering hidden assets, and tracking and reconstructing transactions and wire transfers. From the information provided above, it is easy to see that the need for forensic accountants in the field is growing rapidly. Fraud is something a traditional accountant may stumble upon in their career, but a forensic accountant is a person whose job is to detect it. As stated in the article, some of the duties forensic accountants have when helping with fraud investigations are detecting employee theft and fraud, investigating embezzlement, looking for inconsistencies in financial filings, assessing financial losses, and assisting with insurance claims and restitution orders or agreements.

Fraud falls under the investigative side of a forensic accounting because in a sense the accountant is acting as a detective. The other side of a forensic accountant is they can testify as an expert in court. Personally, I never expected for a forensic accountant to be involved in divorce cases, however if makes sense that a forensic accountant will usually assist in dividing assets and other valuables owned by one or both spouses during the marriage. Asset tracing is a key way for a forensic accountant to detect if someone has tried to conceal assets. Amongst others, some of the duties forensic accountants have helping with divorce cases are evaluating a spouse’s personal and business statements, tracing assets, debts, income, determining the value of concealed assets, ensuring equitable distribution and helping with divorce negotiations. Overall, the forensic accountant is there to help a spouse so that he or she has an opportunity for a fair and equitable distribution of the assets.

I think that with the evidence presented in this article it is evident that there is a need for forensic accountants in legal cases when it relates to finances. Forensic accounting is interesting to me because I always wanted to be a detective, but I knew that the job market was not going to consistent.  Therefore, it is exciting to find out that forensic accountants can serve the public in this way.

Kimberly is a graduate forensic accounting student at the Feliciano School of Business, Montclair State University.

Reference: Rinder, Henry. “What Types of Legal Cases Require a Forensic Accountant.” Smolin Lupin. 7 Oct. 2014. Web. 21 Oct. 2015. .

Posted by Natasha Dizon. 

Today, technology is very advanced with data that can be accessed and tampered with and though a simple passcode or a touch of a finger, your phone can be opened. Smartphones are something that everyone has these days. iPhones have iOS 8 and it can be hacked into through “backdoors.”

Recently, Syed Farook and his wife, Tashfeen Malik are two residents of California who are being investigated by the FBI. They are suspects for being in contact with the Islamic State. They are also suspects in assisting the shooting that took the lives of 14 innocent people and injuring 22 others. Farook was suspected of using his iPhone 5C to get in contact with other terrorists. Therefore, investigators want to tap into his phone, and unlock the data. The couple died in a shootout with the police. The FBI believes that they were part of terrorism.

In my opinion, yes I think that it is wrong to hack someone’s phone without their permission. Apple has a point where if they do it for them, the company would be pressured or expected to do the same for everyone. By doing that, the whole protection and lock screen code would be completely pointless. But in this certain circumstance, I would agree that the phone should be unlocked only because the lives of millions of people are in danger. If the people are being suspected of murder and terrorism, the right of privacy should not an option.

Natasha is an accounting major at the Feliciano School of Business, Montclair State University.

Posted by Joseph Papandrea.

All different opinions are being thrown around in this case between Apple and the Federal Government. Syed Farook’s phone is what the Federal Government wants to access, due to his previous activity. Farrook killed 14 people during the San Bernardino attack. His relations to ISIS is why the government wants to access his phone. The judge decided to side with Apple in not letting the Fed’s access Farrok’s phone. Apple’s argument not to unlock this phone is because it affects everyone who owns iPhones. “Apple’s lawyers argue that the government’s demands would ultimately make iPhones less safe”(Riley). Apple being able to unlock this phone would make it less safe because phones could fall into the wrong hands. Apple in the past has helped the law enforcement in a drug dealer case. In this case it is much more serious and dangerous for society. Judge James Orenstein says there is no way he can force Apple to hack and access the phone.

The Federal Government holding this phone and stressing about this case does not make sense. There has to be a way the government can hack into the phone themselves, but do not want to reveal that power. If they are able to do that without the help of Apple that could also put a lot of people in danger.

Both Apple and the Federal Government are making a lot of things difficult. Apple was faced with a big decision about whether they were going to help access Farrok’s phone. If Apple accesses the phone, it can help the government in many ways. Their view on it though is that it affects every iPhone owner. Apple’s power to access one phone will give the government access all. A lot of people would side with Apple for fear of their own privacy, but others will argue and say that it will benefit the government because there can be evidence leading to ISIS. Apple decision is probably what is best for the company. Apple wants to stay loyal to its customers and do not want to lose income. People knowing that Apple is able to unlock a phone so easy is where customers lose trust with the company.

In conclusion, both Apple and the Federal Government are stuck between what is morally right. Apple is doing what is best for the company, because if the technology falls into the wrong hands it will bring the company down. I believe the Federal Government must have someone who can find a way to access this phone., because they have the technology already and are looking for a means to protect that secret. They can listen in on anything. In my opinion Apple is not wrong for not wanting to unlock the phone, because they are only protecting the company.

Joseph is a sports management major at the Stillman School of Business, Seton Hall University, Class of 2019.

Posted by Luca Aufiero.

In the article, “BizEquity Launches Online Valuation Tool for Accountants,” Daniel Hood discusses how BizEquity, an online business valuation system for businesses to be able to estimate the value of their businesses, launched a new product called Accountant Office. For accountants and advisors, this new business solution of BizEquity successfully improves the valuation process. Using a keen platform for its refined algorithms and big data knowledge, accountants and advisors will be able to provide clients with real-time awareness of what their business is really worth, more efficiently and cheaply. Accountant Office costs less than one-tenth of the average business valuation fee of $8,000. It can also deliver a valuation report in minutes compared to the average time of 3-6 weeks it takes for traditional business valuation firms to deliver a valuation. BizEquity’s business solutions help companies create, manage, and optimize its business valuations. This may revolutionize the business valuation landscape pertaining to forensic accounting as technology and data cloud services are evolving among the profession.

Currently, BizEquity is one of the world’s largest providers of business valuations, valuing more than 29.4 million companies around the globe. PrimePay, one of the nation’s biggest private payroll companies and a network of more than 10,000 accountants, will be exclusively distributing Accountant Office in the U.S. The founder and CEO of BizEquity, Michael Carter, wanted to expand the views of the capabilities that accountants are perceived at by demonstrating their value in business advisory and not just tax planning. Somewhat as their motto and the first thing that stands out on their website, reads “What’s Your Business Worth?” BizEquity conveys the importance of business valuation to owners and to those accountants and advisors who will benefit from these tools in order to better inform them. With proper valuation knowledge, companies are in a more desirable position in determining the fair value of selling a business, ability to secure financing, and striving for growth.

Luca is a BS and MS in Accounting, Forensic Certificate Program, at the Feliciano School of Business, Montclair State University. 

Reference:

Hood, Daniel. “BizEquity Launches Online Valuation Tool for Accountants.” Accounting Today. 20 Oct. 2015. Web. 20 Nov. 2015. http://www.accountingtoday.com/accounting-technology/news/bizequity-launches-online-valuation-tool-for-accountants-76144-1.html