Rounding fraud is a type of financial fraud using round numbers. It is frequently caught by the over usage of certain statistically improbable number patterns. A notable example of rounding fraud was committed by the India-based company Satyam Computer Services which was detected in 2019, and it is typical in the context of Medicare fraud at Skilled Nursing Facilities (SNFs). It is also an element in microtransaction scams involving credit cards and front companies.
References
- "Dusting your data for fraud's fingerprints: Six number patterns that fraudsters use". www.fraud-magazine.com.
- "Round numbers: A fingerprint of fraud". Journal of Accountancy. May 1, 2018.
- "When Rounding Up Costs You Money: More SNF Fraud". March 9, 2017.
- Zetter, Kim. "FTC: Scammers Stole Millions Using Micro Charges to Credit Cards" – via www.wired.com.
- https://www.wired.com/images_blogs/threatlevel/2010/06/api_complaint.pdf
- Tue, Jun 29th 2010 4:06pm-Mike Masnick. "Scammers Actually Got Away With Millions Of Microtransactions Scam". Techdirt.
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