ankit scam project

8/2/2019 Ankit Scam Project

1/16

1 SCAM (CORPORATE GOVERNANCE & SOCIAL ETHIC)

1

A scam is a dishonest attempt to trap you into parting wth your money. Unfortunately we have all experienced being cheated

in one way or another, and we all know how it feels.

A 'scammer' may make a personal approach, with an offer too good to be true. Someone may email you, phone, text-message

or post an offer that they press you to take up.

They can often use persuasive techniques that can be hard to resist. They can sometimes make you feel that you are petty or

inadequate if you resist or even question their offer.

But there are warning signs that you are being conned. There are patterns that you can learn to recognise. You can learn to

spot a scam coming, and you can learn the skills to respond.

You can protect yourself, and your money, from the cheat.

Are scams illegal?

Some scams may involve unlawful conduct. There have been cases where people have been convicted of offences relating to a scam.

Sometimes the scam in question may have received the publicity required to stamp it out. However, the people running a scam can be

ingenious, and may move around or jump quickly from one type of con-job to another. This wlll make it difficult to prosecute them for any

illegal conduct or bring civil proceedings to obtain compensation for losses.

This is why it is essential that YOU learn to recognise the warning signs. If not, it may be too late by the time the authorities catch up with

the scammer - you may have lost your savings or you may be stuck with a product that is worthless.

Why do scams work?

Scams can be very sophisticated; they can look 'real' to an unsuspecting person. You may need to make an effort to uncover the truth behindthe gloss. On the other hand, some scams succeed even when the offer is quite unrealistic.

Scams work because we can all be victims of wishful thinking. We would all like to have more than we have, and when someone offers us the

answer to our wildest dreams it is very hard to say 'no'. After all, what if i t were a legitimate offer and we were to miss out?

Another reason scams work is that they engage our emotions. The scammer may elicit your sympathy, your concern for others, your desire

for success, your insecurities.. even your greed.

The scammer may make you feel intimidated. They may rush you by skimming over complex details and making those issues sound too

boring to bother with. Sometimes people may say 'yes' just to get rid of the person harassing them.

Warning signs

There are warning signs that may alert you to someone trying to scam you. The following points are very general, and will not necessarily

indicate a scam. The list is not exhaustive either, so there may be other warning signs. If you are in doubt, contact OCBA, SAPOL or your

legal advisor.

1. If someone is trying to scam you they will usually approach you in some way with an offer that sounds irresistible. But they may gloss over

the details of their offer, and instead rave to you about how the product or service will change your life, make you rich or assist some needycause or person.

Warning sign: insufficient details are provided

2. The scammer will usually try to hurry you into making a decision, because they know that the further you investigate or research their

offer, the more likely you are to reject it. They may tell you that the offer is only available for a limited time, or to a limited number of

purchasers.

Warning sign: you are being rushed

3. There are offers that may come to you via post or email. They may tell you about someone who has had a horrendous life, in a country

whose circumstances are such that you have no way to verify the facts, and then ask you for a donation. You may feel so disturbed by the

story, that when you are asked for a donation, you may be inclined to send off your bank account or credit card details.

Warning sign: you are asked for bank details by someone you don't know and for a cause you can't check on

Warning sign: your emotions are engaged

4. You may be told that you have been the winner of a prize draw or lottery, either in Australia or overseas, and the way for you to take up

the win may be to send an entry cheque, or purchase a product or send your account details.

Warning sign: you haven't entered the lottery you are supposed to have won

5. You may be told that the offer made to you is legal and made by a reputable, successful organisation but you may be asked to keep it

confidential.

Warning sign: you don't know anything about the organisation involved in the offer

Warning sign: why do you think they have to pressure you that the offer is legal?

There are many other warning signs that you may now be able to recognise yourself from these examples. For instance:

6. You may be asked to send money to a post office box number and you can't find a street address or phone number or any other


2/16


2

information, about the operator.

7. You may be told you will receive a financial reward for enlisting other people to a scheme that has no purpose other than to make money

for participants, but you can't find out enough about what the scheme actually does or promotes or sells and so on.

What makes you vulnerable?

If an offer sounds too good to be true, chances are it is. Don't be reluctant to say that you are 'not interested' and/or 'no thank you'.

Today's elderly people grew up at a time when keys were left in the car, the house was left unlocked and people had 'respect for their elders'.

But times have changed. Scammers are predators who don't care who they hurt and they will prey on people's trust. If you are too trustingtoday you make yourself an easy target and you could end up a victim.

If you are alone or feeling lonely you may be especially vulnerable. There are counsellors and therapists who may be able to help if you feel

that you may need support. Remember the 'scammers' focus is on the money they will make from you, not any benefit to you.

Tips on self protection

o Avoid dealing with an unfamiliar company, especially if you can't check on their background or recordo Be wary about someone who shows up uninvited at the door or contacts you out of the blueo Learn to be blunt; practise saying 'NO!'o Don't divulge personal information to strangerso Ask for written materials on any offers or charitieso Take your time making a decision; don't be rushed because the offer is only available for a day or twoo Never give out your bank account or credit card informationo Carefully review letters or emails that look official or urgent - if you feel uneasy don't respond to themo Pay close attention to the fine print

o Do not respond to offers you do not fully understando Ask yourself 'Does this offer sound too good to be true?'o Keep written records, including quotes, warranty offers, receipts etco Walk away from a deal if you feel ilke you are being pressuredo If you become a victim, report the scam to OCBA.

o Types of scamso Types of scams

There are some amazing offers that may come your way. You may be approached by

someone pretending to be an investment adviser. But always investigate any money-

making scheme very carefully before deciding whether or not to invest your hard earned

money. If you have any concerns about a scheme seek legal advice and if you are still

unsure have nothing to do with it. If it looks too good to be true it usually is!

Chain letters

Some chain letters promise easy money to anyone who participates, but for the majority

there is a very small or no return at all. The chain letter invites you to send a sum of

money to the name at the top of a list, delete that name and then add your own name to

the bottom of the list before sending the letter to a number of people.

Chain letters that involve sending money in the hope of making money are pyramid

selling schemes, and these are illegal in Australia.

Investment scams

Former stockbroker, David Tweed, has been permanently banned by ASIC from

providing financial services. He has been described as unfit to provide financial services

as a result of engaging in misleading and deceptive conduct concerning the making of

offers to purchase shares. Action has been taken against Tweed in the Federal Court of

Australia, but it is important for investors to understand that this does not prohibit him

from making unsolicited offers to investors. If you get an offer, unsolicited, from a

company offering to buy shares on your behalf -- beware.

Read more aboutDavid Tweed's activities on the ASIC website.

Pyramid schemes

Pyramid schemes make money by recruiting businesses or people rather than by selling

real and legitimate products or services even if a product or service is involved.

In a pyramid scheme, participants are often asked to make a payment, known as a

participation payment', to join and are promised payments for recruiting other investors
http://www.fido.asic.gov.au/catalog.nsf/FIDOSearchResults?SearchDomain&Query=((tweed)%20AND%20(FIELDApplicableSite-FIDO%20%7C%20FIELDApplicableSite-Both)%20AND%20FIELDCompFinal-Yes%20AND%20(NOT%20FIELDSiteSection-Financial%2BInformation%2BDirectory)%20)&SearchOrder=1&SearchWV=TRUE&SearchThesaurus=FALSE&SearchFuzzy=FALSE&Start=1&Count=20&SearchEntry=DetailedResultEntry&Scope=1)http://www.fido.asic.gov.au/catalog.nsf/FIDOSearchResults?SearchDomain&Query=((tweed)%20AND%20(FIELDApplicableSite-FIDO%20%7C%20FIELDApplicableSite-Both)%20AND%20FIELDCompFinal-Yes%20AND%20(NOT%20FIELDSiteSection-Financial%2BInformation%2BDirectory)%20)&SearchOrder=1&SearchWV=TRUE&SearchThesaurus=FALSE&SearchFuzzy=FALSE&Start=1&Count=20&SearchEntry=DetailedResultEntry&Scope=1)http://www.fido.asic.gov.au/catalog.nsf/FIDOSearchResults?SearchDomain&Query=((tweed)%20AND%20(FIELDApplicableSite-FIDO%20%7C%20FIELDApplicableSite-Both)%20AND%20FIELDCompFinal-Yes%20AND%20(NOT%20FIELDSiteSection-Financial%2BInformation%2BDirectory)%20)&SearchOrder=1&SearchWV=TRUE&SearchThesaurus=FALSE&SearchFuzzy=FALSE&Start=1&Count=20&SearchEntry=DetailedResultEntry&Scope=1)http://www.fido.asic.gov.au/catalog.nsf/FIDOSearchResults?SearchDomain&Query=((tweed)%20AND%20(FIELDApplicableSite-FIDO%20%7C%20FIELDApplicableSite-Both)%20AND%20FIELDCompFinal-Yes%20AND%20(NOT%20FIELDSiteSection-Financial%2BInformation%2BDirectory)%20)&SearchOrder=1&SearchWV=TRUE&SearchThesaurus=FALSE&SearchFuzzy=FALSE&Start=1&Count=20&SearchEntry=DetailedResultEntry&Scope=1)


3/16


3

or new participants.

The two payments often associated with a pyramid scheme are:

a participation payment to join

a recruitment payment, promised when a member recruits others.

These recruitment payments often help define a pyramid scheme it may be the only or

main reason for new member to join. The payment' involved could equally be a financial

or a nonfinancial benefit, given either to the new participant or to someone else.

These schemes inevitably collapse and new members can lose a lot of money. It is illegal

for any business or person to participate in, or persuade others to participate in a pyramid

scheme.

A court can consider several factors when identifying a pyramid scheme. The Australian

Consumer Law does not limit the matters a court can consider however the following

characteristics can be used to help identify a pyramid scheme:

unrealistic claims in regard to future profits;

the sales and/or promotional material push recruitment very hard;

recruitment payments are a substantial reason to join.

Phishing

Phishing scams (via the computer) have one thing in common - they trick people into

disclosing their personal details by enticing them to click on a link that directs them to a

hoax website where personal information is captured. Often the emails and the fake

websites are designed to replicate the appearance of a bank or company's legitimate

website, and the website address can also be very similar.

Financial institutions do not contact their customers in this way, so don't be trapped by

this scam. If you click on a dubious link you may be opening up your computer system to

a 'Trojan' virus, which can go on to access your personal details or financial accounts.

Beware fake rental listings

If you are looking for a place to rent, whether it is a house or just a room, be cautious. The Tenancies Branch has received complaints relating

to fake rental and shared accommodation listings on the internet. The scammers advertise properties that do not belong to them. They ask

for money to be paid up front before allowing the prospective renter to inspect the property. Once the payment is made, the fraudulent

owner/landlord is no longer able to be contacted.

Advice to prospective renters:

o Do not pay any money unless you have inspected the rental property.o Do not pay any money unless you are satisfied that the agreement is genuine.o Make sure you get a receipt for any money paid.o Be wary of sending money overseas, particularly to a post box number.

2G scam, market uncertainty may impactIndian operations: Etisalat

PTISHARE PRINT T+

April 5, 2011:
http://www.addthis.com/bookmark.php?v=20http://www.addthis.com/bookmark.php?v=20http://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ece?css=printhttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ece?css=printhttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ece?css=printhttp://www.addthis.com/bookmark.php?v=20


4/16


4

New Delhi, Apr 5 Embroiled in 2G scam due to its association with Swan Telecom, UAE-based Etisalat on Tuesday said investigationagainst it has brought in an uncertainty in the market which may have a direct impact on the companys strategy to move forward inIndia.

The Department of Telecom (DoT) has sent notices to Etisalat DB, along with other new operators for cancelling their licences, as itfailed to start services even after two years of getting spectrum, which is a violation of the licence terms and conditions.

Etisalat is a long-term investor and we remain committed to India. However, there remains some uncertainty in the market and

this will directly impact our strategy moving forward, Etisalat Senior VicePresident (Corporate Communications) Mr Ahmed binAli told PTI.

Etisalat DB (originally Swan Telecom) was awarded licences in 15 circles, including Andhra Pradesh, Delhi, Gujarat, Bihar, Haryana,Karnataka, Kerala, Maharashtra, Mumbai, Punjab, Tamil Nadu (including Chennai, Rajasthan, Uttar Pradesh (East), Uttar Pradesh(West) and Madhya Pradesh.

Etisalat, as a foreign partner, holds a 45 per cent equity stake in Etisalat DB (former Swan Telecom). DB Realty holds the rest of thestake. Etisalat is 60 per cent owned by the UAE government.

Both Etisalat and the UAE enjoy a very close relation with India, Mr Ali said and asserted that Etisalats eligibility to buy a stake inSwan Telecom was never in question.

Mr Ali further added, We have a variety of options open to us for the future and the course we will take depends on the forthcominggovernment policy changes. Etisalat and Etisalat DB have already made commitments in excess of $3 billion to the Indian telecom

sector, Mr Ali said.

Keywords:2G scam, Etisalat DB, Swan Telecom, DB Realty

The most important problem India is facing now is Rampant Corruption from Taluka Panchyat Office to the Offices of Union Government. We

expressed our concern as FIIs are unlikely to invest in Economies run by Corrupt Governments [Readhere&here] After that most FIIs published report

on Scams & Corruption in India which has led to the stalemate in our parliament hindering Major Policy Decisions and Blocking the most sought after

GST Goods & Service Tax Bill which was supposed to be implemented from April-1st-2011. This has led to the overall change in Macro sentiment

reducing the Market Premium which Indian commanded in the past.

License Raj was the form of Corruption until early 90s. Post Liberalization by Shri P V Narsimha Rao, the political class leverages its custodian rights

over public assets by demanding rents for access to the same. Global experience suggests that sectors most likely to be exposed to political corruption

are Public Works, Real Estate, Oil & Gas, Heavy Manufacturing and Mining.

The following Table ranks Corruption across various Sectors in India [In Brackets how corruption is possible]

Public Works Contracts & Construction Highest

Real Estate & Property Development High [ Local Goons & Mafia working at the behest of their Political Bosses]

Oil & Gas High

Heavy Industries & Manufacturing High

Mining High

Pharmaceuticals Medium [Licenses]

Utilities Medium [Access to Raw Materials]

Aerospace, Defence & Arms Medium [Contracts]

Power, T&D Medium [Network]

Telecom medium [Spectrum and Policies]

Agriculture, Food & Civil Supplies Medium [Selling Ration Stock to Black marketers a, massively Organized Crime, Import Export Restrictions]

Information Technology None

Banking & Finance Low [ Some small instances of Loan Approvals etc. Otherwise, Thanks to RBI for being Vigilant]

Light Manufacturing Low

Equity Analysts are very smart and if you look at the Forward P/E discounting of widely held stocks in the above sectors, Sectors with High

Corruption get very low P/E rating.

State Politics Making Dr. Manmohan Singhs Government Weaker The state politics in West Bengal, Andhra Prdesh, Tamil Nadu and

Maharashtra could have a bearing on the United Progressive Alliance in 2011 UPA is the Congress-led ruling coalition in New Delhi and 30% of the

UPAs seats at the Centre come from these four states. All this means, Critical reforms are held back, populist measures follow and quality offiscal consolidation suffers.

In the Worst Case, Mid-Term elections will be inevitable and the economy comes to an halt. Corruption as an issue has ousted the Indian National

Congress from power twice earlier Rajiv Gandhi in the Bofors Scam and PV Narsimha Rao Government for BUYING support for the No

Confidence Motion.

Dr. Manmohan Singhs inability to Lead or Leave makes India a dull investment choiceon the basis of macro, while bottom up stock picking is a

better Mantra for now.

Kindly Follow us onTwitter using your Mobile Phone. We dont flood with messages but just the most important or any opportunistic messages.
http://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://twitter.com/dalalstreet/status/8955220356763648http://twitter.com/dalalstreet/status/8955220356763648http://twitter.com/dalalstreet/status/8955220356763648http://twitter.com/dalalstreet/status/8955219144613888http://twitter.com/dalalstreet/status/8955219144613888http://twitter.com/dalalstreethttp://twitter.com/dalalstreethttp://twitter.com/dalalstreethttp://twitter.com/dalalstreethttp://twitter.com/dalalstreet/status/8955219144613888http://twitter.com/dalalstreet/status/8955220356763648http://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ecehttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article1602128.ece


5/16


5

Top SCAMS in India till 2010India is not a nation without wealth1. 2G spectrum scam: Rs 176,000 crore2. Ramalinga Raju: Rs 8,000 crore3. Harshad Mehta: Rs 5,000 crore4. Hassan Ali Khan: Rs 39,120 crore

5. Money stashed away in Swiss banks: Rs 21 lakh crore6. Teak plantation swindle Rs 8,000 crore7. Dinesh Singhania: Rs 120 crore8. Ketan Parekh: Rs 1,000 crore9. Fertiliser import scam Rs 1,300 crore10. Sugar import scam of 1994: Rs 650 crore11. Meghalaya Forest scam of 1995: Rs 300 crore12. Urea scam of 1996: Rs 133 crore13. Bihar fodder scam of 1996: Rs 950 crore14. Scorpene submarine scam Rs 18,978 crore15. Army ration pilferage scam of 2008 Rs 5,000 crore16. Bihar land scandal in 1997: Rs 400 crore17. Bihar flood relief scam of 2005: Rs 17 crore

18. Sukh Ram telecom scam in 1997: Rs 1,500 crore19. SNC Lavalin power project scam in 1997: Rs 374 crore20. C R Bhansali: Rs 1,200 crore21. IPO scam: Rs 1,000 crore estimated22. Abdul Karim Telgi: Rs 500 crore23. The Jharkhand medical equipment scam Rs 130 crore24. Punjab's City Centre project scam in 2006: Rs 1,500 crore25. Taj Corridor scam of 2006: Rs 175 crore26. State Bank of Saurashtra scam in 2008: Rs 95 crore27. Rice export scam of 2009: Rs 2,500 crore28. Orissa mine scam in 2009: Rs 7,000 crore29. Madhu Koda mining scam of 2009: Rs 4,000 crore30. Preferential allotment scam of 1995: Rs 5,000 crore

31. Yugoslav Dinar scam of 1995: Rs 400 crore32. Cobbler scam: Rs 1,000 crore33. Dinesh Dalmia: Rs 595 crore34. Virendra Rastogi: Rs 43 crore35. The UTI scam: Rs 32 crore36. Uday Goyal: Rs 210 crore37. Sanjay Agarwal: Rs 600 crore

India Corruption & Bribery Report

What is the amount of bribes requested by people in India?


6/16


6

The above numbers clearly suggest that Bribery in India is at a grass root level with close 86% demands

were done for $5000 or less (2,50,000 rupees or less, out which more than half were for $26 (Rs. 1300)or less.

Because, corruption takes place at such a grass root level, it is extremely difficult to contain it.

Having said that, 14 people out of 100 taking bribes are for amount more than $5000 (Rs. 2,50,000).

Actually, if you look at the top officials are even more corrupt. I will tell you why I say that

The number of big bosses is merely 1%-2% of all officials, yet according to the report 14% of bribes are of

huge amounts, showing that big bosses are involved even more compared to low level officials who are

taking bribes.

On a sidenote, Chinas number is much higher with 24% of reported demands were for amounts between

$5,001 and $50,000, 6% of reported demands were for amounts between $50,001 and $500,000, and 6%

were

for amounts greater than $500,000. interesting

What is the nature of Bribe Demands in India?
http://cdn.trak.in/wp-content/uploads/2009/06/Reported_Bribe_Demands.png


7/16


7

No guesses hereif you want to get your work done, bribe em ! thats what is quite clear and in line with

the notion we have.

More than half of all the bribes were paid to get the work in time !

77% of all reported bribe demands in India are related to the avoidance of

harm, including securing the timely delivery of a service which is actually a right of a person (such as

clearing customs or having a telephone line installed) and receiving payment for services already

rendered

Only 12% of the bribe demands were for gaining a personal or business advantage (including exercising

influence with or over another government official, receiving inappropriate favorable treatment or winningnew business).

One thing for sure, we are now used to this corrupt system and take it in our stride as part & parcel .

We do not want to go extra lengths and take the easy way out. But this easy way out is actually the roots

of corruption in India.

Who demand bribe in India?
http://cdn.trak.in/wp-content/uploads/2009/06/Nature_of_bribe_demands_in_India.png


8/16


8

No guesses here !

Whooping 91% of reported bribe demands originate from government officials in India.

The greatest sources of bribe demands, were from national level Government officials (33%), the police

(30%), state/provincial officials and employees (16%), and city officials (10%) respectively .

Do you know which of the two Indian ministries ask for bribe more than other? They are Customs office

(13%) and Taxation and Water (9%).

China fares slightly well when it comes to Government officials taking bribe (85%) Another major

difference is that India Police (30%) are far more corrupt than their Chinese counterparts (only 11%).

What is the frequency of Bribe Demands in India?
http://cdn.trak.in/wp-content/uploads/2009/06/Bribe_requestors_in_India.png


9/16


9

Nearly 90% indicated being solicited for a bribe between two and 20 times.

Overall 60% people reported bribe demands of 5 times or lower from the same individual. However, 9%

asked for bribes more than 100 times.

Compared to China, it differs significantly with 73% people indicating that they had received multiple bribe

requests. Almost 20% of those individuals reported receiving more than 100 bribe demands in

China.

In what form was the bribe requested?

Do you want any tips on how to give bribes? here is what our corrupt officials prefer..

If in doubt, give cash, as 92% of all bribes are preferred to be cash or cash equivalent, The next best

thing is a gift, (5%) including requests for company products, jewelry and similar items. Less common

still, at approx. 1% each, were requests for hospitality or entertainment items; travel for other than

business purposes; and other assistance, such as

help with a visa, medical care, or scholarships.Surprisingly, there were no reports in India of demands for additional business or sexual favors.In

China, those demands accounted for a combined total of 7% of reported bribe solicitations.

So, there you have itHow, what, who and why of Indian Corruption.
http://cdn.trak.in/wp-content/uploads/2009/06/Frequency_of_Bribe_demands.png


10/16


10

This is the season of scams and the biggest ever corruption cases in India have been unearthed more

recently. So, we decided to dig deep to see which scams were the biggest and most damaging to the

country and its citizens alike.

In our daily life, most of us must have been a witness to or avictim of the corruptionthriving in some or the

other part of the country. It could be in the form of a taxi-driver manipulating the meter to jack-up the

reading or a government officer taking bribery to promptly transfer your file to the next department or even

yourselfoffering bribe to a traffic policeon breaking a signal.

An average Indian citizen is hard working and diligent, but it is the people in charge of the system (The

Babus) or with whom the power lays, that act as a cancer spreading the venom, slowing down progress

and what all not. But, somewhere down the line, we ourselves are responsible for allowing and being

taken for a ride by these people, arent we?

However, it is during a multi-thousand crore scam, that a tax-payer actually realizes the heartburn of

being cheated from his valued contribution of funds towards the development and well-being of the

nation. But, thats what a scam, be it big or small, means the act of swindling by some fraudulent

scheme or action.

The Top Scams in India

1) 2G Spectrum Scam

We have had a number of scams in India; but none bigger than the scam involving the process of

allocating unified access service licenses. At the heart of this Rs.1.76-lakh crore worth of scam is the

former Telecom minister A Raja who according to the CAG, has evaded norms at every level as he

carried out the dubious 2G license awards in 2008 at a throw-away price which were pegged at 2001

prices.
http://trak.in/tags/business/2010/10/27/india-corruption-country-2010/http://trak.in/tags/business/2010/10/27/india-corruption-country-2010/http://trak.in/tags/business/2010/10/27/india-corruption-country-2010/http://trak.in/tags/business/2009/06/04/indian-politicians-most-corrupt/http://trak.in/tags/business/2009/06/04/indian-politicians-most-corrupt/http://trak.in/tags/business/2009/06/04/indian-politicians-most-corrupt/http://trak.in/tags/business/2009/06/04/indian-politicians-most-corrupt/http://trak.in/tags/business/2010/10/27/india-corruption-country-2010/


11/16


11

2) Commonwealth Games Scam

Another feather in the cap of Indian scandal list isCommonwealth Games loot. Yes, literally a loot! Even

before the long awaited sporting bonanza could see the day of light, the grand event was soaked in the

allegations of corruption. It is estimated that out of Rs. 70000 crore spent on the Games, only half the

said amount was spent on Indian sportspersons.

The Central Vigilance Commission, involved in probing the alleged corruption in various Commonwealth

Games-related projects, has found discrepancies in tenders like payment to non-existent parties, will-ful

delays in execution of contracts, over-inflated price and bungling in purchase of equipment through

tendering and misappropriation of funds.

3) Telgi Scam

As they say, every scam must have something unique in it to make money out of it in an unscrupulous

manner- andTelgi scamhad all the suspense and drama that the scandal needed to thrive and be

busted.

Abdul Karim Telgihad mastered the art of forgery in printing duplicate stamp papers and sold them to

banks and other institutions. The tentacles of the fake stamp and stamp paper case had penetrated 12

states and was estimated at a whooping Rs. 20000 crore plus. The Telgi clearly had a lot of support from

government departments that were responsible for the production and sale of high security stamps.

4) Satyam Scam
http://trak.in/tags/business/2010/10/22/cwg-commonwealth-corruption-charges/http://trak.in/tags/business/2010/10/22/cwg-commonwealth-corruption-charges/http://trak.in/tags/business/2010/10/22/cwg-commonwealth-corruption-charges/http://www.dnaindia.com/mumbai/report_telgi-scam-timeline_1047159http://www.dnaindia.com/mumbai/report_telgi-scam-timeline_1047159http://www.dnaindia.com/mumbai/report_telgi-scam-timeline_1047159http://en.wikipedia.org/wiki/Abdul_Karim_Telgihttp://en.wikipedia.org/wiki/Abdul_Karim_Telgihttp://en.wikipedia.org/wiki/Abdul_Karim_Telgihttp://www.dnaindia.com/mumbai/report_telgi-scam-timeline_1047159http://trak.in/tags/business/2010/10/22/cwg-commonwealth-corruption-charges/


12/16


12

Thescam at Satyam Computer Servicesis something that will shatter the peace and tranquillity of

Indian investor s and shareholder community beyond repair. Satyam is the biggest fraud in the

corporate history to the tune of Rs. 14000 crore.

The company s disgraced former chairman Ramalinga Raju kept everyone in the dark for a decade by

fudging the books of accounts for several years and inflating revenues and profit figures of Satyam.

Finally, the company was taken over by the Tech Mahindra which has done wonderfully well to revive the

brand Satyam.

5) Bofors Scam

TheBofors scandalis known as the hallmark of Indian corruption. The Bofors scam was a major

corruption scandal in India in the 1980s; when the then PM Rajiv Gandhi and several others including a

powerful NRI family named the Hindujas, were accused of receiving kickbacks from Bofors AB for winning

a bid to supply Indias 155 mm field howitzer.

The Swedish State Radio had broadcast a startling report about an undercover operation carried out by

Bofors, Swedens biggest arms manufacturer, whereby $16 million were allegedly paid to members of PM

Rajiv Gandhis Congress.

Most of all, the Bofors scam had a strong emotional appeal because it was a scam related to the defense

services and Indias security interests.

6) The Fodder Scam

If you havent heard of Bihars fodder scam of 1996, you might still be able to recognize it by the name of

Chara Ghotala, as it is popularly known in the vernacular language.
http://trak.in/tags/business/2009/01/06/satyam-head-raju-admits-fraud-letter-board-directors/http://trak.in/tags/business/2009/01/06/satyam-head-raju-admits-fraud-letter-board-directors/http://trak.in/tags/business/2009/01/06/satyam-head-raju-admits-fraud-letter-board-directors/http://en.wikipedia.org/wiki/Bofors_scandalhttp://en.wikipedia.org/wiki/Bofors_scandalhttp://en.wikipedia.org/wiki/Bofors_scandalhttp://en.wikipedia.org/wiki/Fodder_Scamhttp://en.wikipedia.org/wiki/Fodder_Scamhttp://en.wikipedia.org/wiki/Fodder_Scamhttp://en.wikipedia.org/wiki/Fodder_Scamhttp://en.wikipedia.org/wiki/Bofors_scandalhttp://trak.in/tags/business/2009/01/06/satyam-head-raju-admits-fraud-letter-board-directors/


13/16


13

In this corruption scandal worth Rs.900 crore, an unholy nexus was traced involved in fabrication of vast

herds of fictitious livestock for which fodder, medicine and animal husbandry equipment was supposedly

procured.

7) The Hawala Scandal

The Hawala caseto the tune of $18 million bribery scandal, which came in the open in 1996, involved

payments allegedly received by countrys leading politicians through hawala brokers. From the list of

those accused also included Lal Krishna Advani who was then the Leader of Opposition.

Thus, for the first time in Indian politics, it gave a feeling of open loot all around the public, involving all the

major political players being accused of having accepted bribes and also alleged connections about

payments being channelled to Hizbul Mujahideen militants in Kashmir.

8) IPL Scam

Well, I am running out of time and space over here. The list of scandals in India is just not ending andbecoming grave by every decade. Most of us are aware about the recent scam in IPL and embezzlement

with respect to bidding for various franchisees. The scandal already claimed the portfolios of two big-wigs

in the form ofShashi Tharoor and former IPL chief Lalit Modi.

9,10) Harshad Mehta & Ketan Parekh Stock Market Scam
http://en.wikipedia.org/wiki/Hawala_scandalhttp://en.wikipedia.org/wiki/Hawala_scandalhttp://trak.in/tags/business/2010/04/13/kochi-ipl-team-controversy-shashi-tharoor-lalit-modi/http://trak.in/tags/business/2010/04/13/kochi-ipl-team-controversy-shashi-tharoor-lalit-modi/http://trak.in/tags/business/2010/04/13/kochi-ipl-team-controversy-shashi-tharoor-lalit-modi/http://trak.in/tags/business/2010/04/13/kochi-ipl-team-controversy-shashi-tharoor-lalit-modi/http://en.wikipedia.org/wiki/Hawala_scandal


14/16


14

Although not corruption scams, these have affected many people. There is no way that the investor

community could forget the unfortunateRs. 4000 crore Harshad Mehta scamand over Rs. 1000 crore

Ketan Parekh scam which eroded the shareholders wealth in form of big market jolt.

So, can we live a scam-free life in India for a while now?

A confidence trick or confidence game (also known as a bunko, con, flim

flam, gaffle, grift, hustle, scam, scheme, swindle or bamboozle) is an attempt todefrauda person or group by gaining theirconfidence.

The victim is known as the mark, the trickster is called a confidence man, con man, confidence trickster, grifter, or con artist, and any

accomplices are known asplants. Confidence men or women exploit characteristics of the human psyche such as greed,

bothdishonestyandhonesty,vanity,compassion,credulity,irresponsibility,navet, and the thought of trying to get something of value for

nothing or for something far less valuable. Confidence men or women havevictimizedindividuals from all walks of life.

Contents

[hide]

1 History

2 Vulnerability to confidence tricks

3 Real-life con artists

4 Fictional con artists

5 Popular culture

6 See also

7 References

8 Further reading

9 External links

[edit]History

The first known usage of the term "confidence man" in English was in 1849. It was used by American press during the United States trial

ofWilliam Thompson. Thompson chatted with strangers until he asked, if they had the confidence, to lend him their watches, whereupon he

would walk off with the watch. He was captured when a victim recognized him on the street .[1]

[edit]Vulnerability to confidence tricks

Confidence tricks exploit typical human qualities such

asgreed,dishonesty,vanity, honesty,compassion,credulity,irresponsibility andnavet. The common factor is that the victim (mark) relies

on the good faith of the con artist.
http://www.sharetermpapers.com/journals-articles/harshad-mehta-scam/http://www.sharetermpapers.com/journals-articles/harshad-mehta-scam/http://en.wikipedia.org/wiki/Fraudhttp://en.wikipedia.org/wiki/Fraudhttp://en.wikipedia.org/wiki/Fraudhttp://en.wikipedia.org/wiki/Confidencehttp://en.wikipedia.org/wiki/Confidencehttp://en.wikipedia.org/wiki/Confidencehttp://en.wikipedia.org/wiki/Shillhttp://en.wikipedia.org/wiki/Shillhttp://en.wikipedia.org/wiki/Shillhttp://en.wikipedia.org/wiki/Greed_(emotion)http://en.wikipedia.org/wiki/Greed_(emotion)http://en.wikipedia.org/wiki/Greed_(emotion)http://en.wikipedia.org/wiki/Dishonestyhttp://en.wikipedia.org/wiki/Dishonestyhttp://en.wikipedia.org/wiki/Dishonestyhttp://en.wikipedia.org/wiki/Honestyhttp://en.wikipedia.org/wiki/Honestyhttp://en.wikipedia.org/wiki/Vanityhttp://en.wikipedia.org/wiki/Vanityhttp://en.wikipedia.org/wiki/Vanityhttp://en.wikipedia.org/wiki/Compassionhttp://en.wikipedia.org/wiki/Compassionhttp://en.wikipedia.org/wiki/Compassionhttp://en.wikipedia.org/wiki/Credulityhttp://en.wikipedia.org/wiki/Credulityhttp://en.wikipedia.org/wiki/Credulityhttp://en.wikipedia.org/wiki/Moral_responsibilityhttp://en.wikipedia.org/wiki/Moral_responsibilityhttp://en.wikipedia.org/wiki/Moral_responsibilityhttp://en.wikipedia.org/wiki/Na%C3%AFvet%C3%A9http://en.wikipedia.org/wiki/Na%C3%AFvet%C3%A9http://en.wikipedia.org/wiki/Na%C3%AFvet%C3%A9http://en.wikipedia.org/wiki/Victimizedhttp://en.wikipedia.org/wiki/Victimizedhttp://en.wikipedia.org/wiki/Victimizedhttp://en.wikipedia.org/wiki/Confidence_trickhttp://en.wikipedia.org/wiki/Confidence_trickhttp://en.wikipedia.org/wiki/Confidence_trickhttp://en.wikipedia.org/wiki/Confidence_trickhttp://en.wikipedia.org/wiki/Confidence_trick#Historyhttp://en.wikipedia.org/wiki/Confidence_trick#Historyhttp://en.wikipedia.org/wiki/Confidence_trick#Vulnerability_to_confidence_trickshttp://en.wikipedia.org/wiki/Confidence_trick#Vulnerability_to_confidence_trickshttp://en.wikipedia.org/wiki/Confidence_trick#Real-life_con_artistshttp://en.wikipedia.org/wiki/Confidence_trick#Real-life_con_artistshttp://en.wikipedia.org/wiki/Confidence_trick#Fictional_con_artistshttp://en.wikipedia.org/wiki/Confidence_trick#Fictional_con_artistshttp://en.wikipedia.org/wiki/Confidence_trick#Popular_culturehttp://en.wikipedia.org/wiki/Confidence_trick#Popular_culturehttp://en.wikipedia.org/wiki/Confidence_trick#See_alsohttp://en.wikipedia.org/wiki/Confidence_trick#See_alsohttp://en.wikipedia.org/wiki/Confidence_trick#Referenceshttp://en.wikipedia.org/wiki/Confidence_trick#Referenceshttp://en.wikipedia.org/wiki/Confidence_trick#Further_readinghttp://en.wikipedia.org/wiki/Confidence_trick#Further_readinghttp://en.wikipedia.org/wiki/Confidence_trick#External_linkshttp://en.wikipedia.org/wiki/Confidence_trick#External_linkshttp://en.wikipedia.org/w/index.php?title=Confidence_trick&action=edit&section=1http://en.wikipedia.org/w/index.php?title=Confidence_trick&action=edit&section=1http://en.wikipedia.org/w/index.php?title=Confidence_trick&action=edit&section=1http://en.wikipedia.org/wiki/William_Thompson_(confidence_man)http://en.wikipedia.org/wiki/William_Thompson_(confidence_man)http://en.wikipedia.org/wiki/William_Thompson_(confidence_man)http://en.wikipedia.org/wiki/Confidence_trick#cite_note-0http://en.wikipedia.org/wiki/Confidence_trick#cite_note-0http://en.wikipedia.org/wiki/Confidence_trick#cite_note-0http://en.wikipedia.org/w/index.php?title=Confidence_trick&action=edit&section=2http://en.wikipedia.org/w/index.php?title=Confidence_trick&action=edit&section=2http://en.wikipedia.org/w/index.php?title=Confidence_trick&action=edit&section=2http://en.wikipedia.org/wiki/Greed_(emotion)http://en.wikipedia.org/wiki/Greed_(emotion)http://en.wikipedia.org/wiki/Greed_(emotion)http://en.wikipedia.org/wiki/Dishonestyhttp://en.wikipedia.org/wiki/Dishonestyhttp://en.wikipedia.org/wiki/Dishonestyhttp://en.wikipedia.org/wiki/Vanityhttp://en.wikipedia.org/wiki/Vanityhttp://en.wikipedia.org/wiki/Honestyhttp://en.wikipedia.org/wiki/Honestyhttp://en.wikipedia.org/wiki/Honestyhttp://en.wikipedia.org/wiki/Compassionhttp://en.wikipedia.org/wiki/Compassionhttp://en.wikipedia.org/wiki/Compassionhttp://en.wikipedia.org/wiki/Credulityhttp://en.wikipedia.org/wiki/Credulityhttp://en.wikipedia.org/wiki/Credulityhttp://en.wikipedia.org/wiki/Moral_responsibilityhttp://en.wikipedia.org/wiki/Moral_responsibilityhttp://en.wikipedia.org/wiki/Moral_responsibilityhttp://en.wikipedia.org/wiki/Na%C3%AFvehttp://en.wikipedia.org/wiki/Na%C3%AFvehttp://en.wikipedia.org/wiki/Na%C3%AFvehttp://en.wikipedia.org/wiki/Na%C3%AFvehttp://en.wikipedia.org/wiki/Moral_responsibilityhttp://en.wikipedia.org/wiki/Credulityhttp://en.wikipedia.org/wiki/Compassionhttp://en.wikipedia.org/wiki/Honestyhttp://en.wikipedia.org/wiki/Vanityhttp://en.wikipedia.org/wiki/Dishonestyhttp://en.wikipedia.org/wiki/Greed_(emotion)http://en.wikipedia.org/w/index.php?title=Confidence_trick&action=edit&section=2http://en.wikipedia.org/wiki/Confidence_trick#cite_note-0http://en.wikipedia.org/wiki/William_Thompson_(confidence_man)http://en.wikipedia.org/w/index.php?title=Confidence_trick&action=edit&section=1http://en.wikipedia.org/wiki/Confidence_trick#External_linkshttp://en.wikipedia.org/wiki/Confidence_trick#Further_readinghttp://en.wikipedia.org/wiki/Confidence_trick#Referenceshttp://en.wikipedia.org/wiki/Confidence_trick#See_alsohttp://en.wikipedia.org/wiki/Confidence_trick#Popular_culturehttp://en.wikipedia.org/wiki/Confidence_trick#Fictional_con_artistshttp://en.wikipedia.org/wiki/Confidence_trick#Real-life_con_artistshttp://en.wikipedia.org/wiki/Confidence_trick#Vulnerability_to_confidence_trickshttp://en.wikipedia.org/wiki/Confidence_trick#Historyhttp://en.wikipedia.org/wiki/Confidence_trickhttp://en.wikipedia.org/wiki/Victimizedhttp://en.wikipedia.org/wiki/Na%C3%AFvet%C3%A9http://en.wikipedia.org/wiki/Moral_responsibilityhttp://en.wikipedia.org/wiki/Credulityhttp://en.wikipedia.org/wiki/Compassionhttp://en.wikipedia.org/wiki/Vanityhttp://en.wikipedia.org/wiki/Honestyhttp://en.wikipedia.org/wiki/Dishonestyhttp://en.wikipedia.org/wiki/Greed_(emotion)http://en.wikipedia.org/wiki/Shillhttp://en.wikipedia.org/wiki/Confidencehttp://en.wikipedia.org/wiki/Fraudhttp://www.sharetermpapers.com/journals-articles/harshad-mehta-scam/


15/16


15

Just as there is no typical profile for swindlers, neither is there one for their victims. Virtually anyone can fall prey to fraudulent crimes. ...

Certainly victims of high-yield investment frauds may possess a level of greed which exceeds their caution as well as a willingness to believe

what they want to believe. However, not all fraud victims are greedy, risk-taking, self-deceptive individuals looking to make a quick dollar. Nor

are all fraud v ictims nave, uneducated, or elderly.[2]

A greedy or dishonest mark may attempt to out-cheat the con artist, only to discover that he or she has been manipulated into losing from the

very beginning.

Shills, also known as accomplices, help manipulate the mark into accepting the con man's plan. In a traditional confidence trick, the mark is

led to believe that he will be able to win money or some other prize by doing some task. The accomplices may pretend to be strangers who

have benefited from performing the task in the past.
http://en.wikipedia.org/wiki/Confidence_trick#cite_note-1http://en.wikipedia.org/wiki/Confidence_trick#cite_note-1http://en.wikipedia.org/wiki/Confidence_trick#cite_note-1http://en.wikipedia.org/wiki/Shillhttp://en.wikipedia.org/wiki/Shillhttp://en.wikipedia.org/wiki/Shillhttp://en.wikipedia.org/wiki/Confidence_trick#cite_note-1


16/16

ankit scam project

Documents