Question

In: Accounting

Why a need for money is fraudulent and waiving off debt is a suspicious behavior. If...

Why a need for money is fraudulent and waiving off debt is a suspicious behavior.

If you don't know the answer then don't post a non-sense answer "tutor".

Solutions

Expert Solution

Why the need of money is fradulent implies about the situation where as person( who is a stranger) expresses the need of money andassure you to return the money within reasonable time period given. Such people gain your trust to obatain money from you and never return the same and run.  

Now the forms in which money can be earned from you are-

1. Fake loan scam where the fraudester offers you amount of loan for which you have to make advance payment of fee or pre payments. They take the prepayment/advance and never offer you the loan amount and even your prepayment is lost.

2. Mystery shopping where fraudester target the employment firms and charge money from candidates in name of employment firms as a condition to provide employment and get the amount credited in some bank account from candidates searching for good jobs and run.

3.Prize money scam where you are told that you have won a particular sum and fraduster pretends themself as reputed company and ask you bank account numbers to transfer the funds and ask you to deposit some initial amount to get the prize money.

4. Anti virus purchase etc.

NOW WAIVING OFF DEBT IS A SUSPICIOUS BEHAVIOUR implies that normally the waiver of loan is done by the lenders of loan when they consider that the person obtaining the loan the unable to payoff the loan due to unfavourable financial conditions.

but as the line suggest the government has received a lot of protest in cases where the loan waiver is of farmers,people below poverty line as they claim that the waiver action is taken by government or institutions to attract votes in elections and attain majority votes.


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