Corporate/Commercial FraudThe Royal Canadian Mounted Police [RCMP] classifies corporate fraud into two different categories: fraud committed by a company and fraud against a company (para. 5). The RCMP explains that fraud against a business can occur through “the misappropriation of company assets by a senior officer of the company or by staff” (para. 5). Employees defraud businesses with methods such as "fictitious income, concealed liabilities and expenses, and understatements or overstatements of assets or income," while fraud by a business occurs by " providing incorrect or misleading information to shareholders or regulators, including financial reporting fraud – when incorrect.” or misleading information is provided to obtain individual financial gain” (RCMP, para. 5). The Federal Bureau of Investigation [FBI] divides corporate fraud into three categories based on the action of the fraudster or the fraudulent company. These categories include falsifying financial information or accounting schemes, self-dealing by corporate insiders, and obstruction of justice (FBI, para. 16). The FBI's self-dealing category would fall under the RCMP's business fraud category. Actions taken by a person who commits proprietary trading fraud include: “insider trading; bribes; backdating of executive stock options; misuse of company assets for personal gain; and individual tax violations related to personal transactions” (FBI, para. 16). On the other hand, accounting schemes are frauds committed by a business, which include false accounting entries, transactions and dealings with the aim of improving the appearance of a company's financial performance (FBI, para. 16) . Concealing any of these activities from authoritative or regulatory agencies would be considered obstruction...... middle of document ...... at http://www.sec.gov/news/testimony/2010 /ts042010mls.htmSecurities and Securities and Exchange Commission [SEC]. (2010). Investor Complaints and Questions – Annual Complaints Data for Fiscal Year 2010. Accessed February 2, 2011 from http://www.sec.gov/news/data.htmSingh, J., Kumar, N. and Uzma, S (2010). Satyam Fiasco: Corporate Governance Failure and Lessons Resulting from It. IUP Journal of Corporate Governance, 9(4), 30-39. Retrieved February 14, 2011 from ABI/INFORM Global. (Document ID: 2170212581).Banker Pak. Ernst & Young “hides” Lehman’s problems. (December 23, 2010) Retrieved February 14, 2011 from ABI/INFORM Global. (Document ID: 2220249491).Wall Street Journal (online). Auditors face fraud charges; New York is preparing to claim that Ernst & Young stood aside while Lehman prepared its books. (December 20, 2010). Retrieved February 15, 2011 from ABI/INFORM Global. (document ID: 2217000931).