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Running head: REVENUE ANALYSIS1Module 02 Course Project – Revenue AnalysisConnie Cioni(Daw)Rasmussen CollegeAuthor NoteThis paper is being submitted on November 18, 2018, for Roxanne Visser A276/ACG2680 Section 02 Financial Investigation course.
REVENUE ANALYSIS2Module 02 Course Project – Revenue AnalysisFraudulent ActivitiesIn 2016, Wells Fargo made national news for account fraud. The employees were creating checking and savings accounts for customers, as well as opening credits cards, without customer authorization or knowledge. Over 2 million unauthorized deposit accounts were created, and over a half million credit cards opened. (Whitehouse, 2017) In addition, the bank placed insurance policies on over 570,000 car loans without the customer’s knowledge and consent. Employees had metrics based on accounts created, and their incentives were tied to these metrics. Branch managers were affected by these metrics as well, which gave them the incentive to pressure their employees. (Wikipedia, 2017)