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Date: April 29, 2024 Mon
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Results for white collar crime
30 results foundAuthor: Gounev, Philip Title: Examining the Links Between Organised Crime and Corruption Summary: This report presents an analysis of the links between organised crime and corruption. The main objectives of the study were to identify: 1) causes and factors that engender corruption by organised crime (including white-collar criminals) within the public and private sectors; 2) the scope and the impact of that corruption on society and institutions; 3) organised crime’s main corruption schemes, the areas or risks they create, and the related differences amongst European Union (EU) Member States (MS); 4) best practices in prevention and countering corruption linked to organised crime; and 5) framework for a future assessment of trends in the link between organised crime and corruption, as well as corresponding counter measures. Details: Sofia, Bulgaria: Center for the Study of Democracy, 2010. 335p. Source: Internet Resource: Accessed August 24, 2010 at: http://www.europarl.europa.eu/meetdocs/2009_2014/documents/libe/dv/report_csd_/report_csd_en.pdf Year: 2010 Country: Europe URL: http://www.europarl.europa.eu/meetdocs/2009_2014/documents/libe/dv/report_csd_/report_csd_en.pdf Shelf Number: 119676 Keywords: CorruptionOrganized CrimeWhite Collar Crime |
Author: Kane, John Title: The 2005 National Public Survey on White Collar Crime Summary: Within recent years, instances of white collar crime have become a topic of increasing frequency within the news. Security data breaches and crimes such as identity theft, credit card fraud, disaster fraud, and mortgage fraud have pervaded recent media reports, and scandals involving corporations such as Enron, Worldcom, Tyco, HealthSouth, and ImClone have dominated airtime. Furthermore, monetary estimates from the Federal Bureau of Investigation and the Association of Certified Fraud Examiners approximate the annual cost of white collar crime to be between $300 and $660 billion. Despite the evidence of the widespread nature of white collar crime, there remain few empirical studies devoted to assessing the prevalence of white collar crime as it relates to the general public. In response to this, NW3C conducted the 2005 National Public Survey on White Collar Crime (a follow-up to NW3C’s original National Public Survey on White Collar Crime conducted in 1999). By utilizing household and individual measures, this nationally-representative survey highlights the public’s recent experiences with white collar crime including victimization, reporting behaviors, and perceptions of crime seriousness. Details: Fairmont, WV: National White Collar Crime Center, 2006. 45p. Source: Internet Resource: Accessed October 6, 2010 at: http://www.nw3c.org/research/national_public_survey.cfm Year: 2006 Country: United States URL: http://www.nw3c.org/research/national_public_survey.cfm Shelf Number: 119868 Keywords: Credit Card FraudCrime SurveysFraudIdentity TheftPublic OpinionVictimizationVictims of CrimeWhite Collar Crime |
Author: Huff, Rodney Title: The 2010 National Public Survey On White Collar Crime Summary: The 2010 National Public Survey on White Collar Crime was designed by the National White Collar Crime Center to measure the public’s experience with white collar crime in the following areas: ● Victimization ● Reporting behaviors ● Perceptions of crime seriousness The survey was administered from June to August, 2010 and employed random digit dialing techniques to provide a national sample. Landline and cell phone interviews of 2,503 adult participants were conducted in English and Spanish. Respondents were asked about experiences within their households concerning white collar crime within the past 12 months, as well as about personal encounters with these crimes within the past 12 months. The experiences measured were mortgage fraud, credit card fraud, identity theft , unnecessary home or auto repairs, price misrepresentation, and losses occurring due to false stockbroker information, fraudulent business ventures, and Internet scams. The study found that: ● 24% of households and 17% of individuals reported experiencing at least one form of these victimizations within the previous year ● Respondents reported victimization at both household and individual levels most oft en as a result of credit card fraud, price misrepresentation, and unnecessary object repairs In conjunction with direct victimization questions, respondents were asked whether or not the victimization was reported to law enforcement or other entities that might be able to assist the victim. Of the household victimizations: ● 54.7% were reported to at least one external recipient or agency (e.g., credit card company, business or person involved, law enforcement, consumer protection agency, personal att orney, etc.) ● Only 11.7% were reported to law enforcement or some other crime control agency. In an effort to gauge public perception of the seriousness of crime, respondents were presented with 12 scenarios that included various white collar crimes as well as traditional offenses. The scenarios were grouped into eight categories. These categories were, in turn, ordered into four dichotomies: (1) white collar/traditional crime, (2) crimes involving physical harm/money, (3) crimes involving organizational/individual off enders, and (4) crimes involving high-status/low-status offenders. Based upon the categorization, findings suggest that: ● Respondents viewed white collar crime as slightly more serious than traditional crime types ● Offenses committed at the organizational level were viewed more harshly than those committed by individuals ● Crimes committed by high-status off enders (those in a position of trust) were seen as more troubling than those committ ed by low-status persons. By collecting responses related to victimization, reporting behaviors, and perceptions of crime seriousness, the present survey reveals valuable information concerning the public’s experiences with white collar crime: ● Nearly one in four households was victimized by white collar crime within the previous year ● Few victimization reports reached crime control agencies. The survey also inquired about respondents’ perceptions of the impact of white collar crime on the current economic crisis, as well as the level of resources appropriated by the government to fight white collar crime. The survey found that: ● A majority believed white collar crime has contributed to the current economic crisis ● Nearly half the participants said that government is not devoting enough resources to combat white collar crimes. Details: Fairmont, WV: National White Collar Crime Center, 2010. 57p. Source: Internet Resource: Accessed April 18, 2011 at: http://crimesurvey.nw3c.org/docs/nw3c2010survey.pdf Year: 2010 Country: United States URL: http://crimesurvey.nw3c.org/docs/nw3c2010survey.pdf Shelf Number: 121388 Keywords: Credit Card FraudCrime SeriousnessCrime SurveysIdentity TheftVictimizationWhite Collar Crime |
Author: Belli, Roberta Title: Where Political Extremists and Greedy Criminals Meet: A Comparative Study of Financial Crimes and Criminal Networks in the United States Summary: Financial crime poses a serious threat to the integrity and security of legitimate businesses and institutions, and to the safety and prosperity of private citizens and communities. Experts argue that the profile of financial offenders is extremely diversified and includes individuals who may be motivated by greed or ideology. Islamic extremists increasingly resort to typical white-‐collar crimes, like credit card and financial fraud, to raise funds for their missions. In the United States, the far-‐right movement professes its anti-‐government ideology by promoting and using a variety of anti-‐tax strategies. There is evidence that ideologically motivated individuals who engage in financial crimes benefit from interactions with profit-‐driven offenders and legitimate actors that provide resources for crime in the form of knowledge, skills, and suitable co-‐offenders. This dissertation sheds light on the nexus between political extremism and profit-‐driven crime by conducting a systematic study of financial crime cases involving Islamic extremists, domestic far-‐rightists, and their non-‐extremist accomplices prosecuted by federal courts in 2004. Attribute and relational data were extracted from the U.S. Extremist Crime Database (ECDB), which is the first open-‐source relational database that provides information on all extremist crimes, violent and non-‐violent, ideological and routine crimes, since 1990. A descriptive analysis was conducted comparing schemes, crimes, and techniques used by far-‐rightists, Islamic extremists, and non-‐extremists, before moving into an in-‐depth social network analysis of their relational ties in co-‐offending, business, and family networks. The descriptive findings revealed considerable differences in the modus operandi followed by far-‐rightists and Islamic extremists as well as the prosecutorial strategies used against them. The subsequent exploratory and statistical network analyses, however, revealed interesting similarities, suggesting that financial schemes by political extremists occurred within similarly decentralized, self-‐organizing structures that facilitated exchanges between individuals acting within close-‐knit subsets regardless of their ideological affiliation. Meaningful interactions emerged between far-‐rightists and non-‐extremists involved in business ventures and within a tax avoidance scheme, indicating that the crime-‐extremism nexus was more prevalent within far-‐right settings compared to Islamic extremist ones. The findings were discussed in light of their implications for criminological theories, criminal justice and crime prevention policies, and methodological advances. Details: Dissertation, City University of New York, 2011. 464p. Source: Internet Resource: Accessed June 28, 2011 at: http://www.ncjrs.gov/pdffiles1/nij/grants/234524.pdf Year: 2011 Country: United States URL: http://www.ncjrs.gov/pdffiles1/nij/grants/234524.pdf Shelf Number: 121874 Keywords: Extremist GroupsFinancial CrimesFraudOrganized CrimeTax-EvasionTerrorismTerroristsWhite Collar CrimeWhite Collar Offenses |
Author: DeBacker, Jason Title: Importing Corruption Culture from Overseas: Evidence from Corporate Tax Evasion in the United States Summary: This paper studies how cultural norms and enforcement policies influence illicit corporate activities. Using confidential IRS audit data, we show that corporations with owners from countries with higher corruption norms engage in higher amounts of tax evasion in the U.S. This effect is strong for small corporations and decreases as the size of the corporation increases. In the mid-2000s, the United States implemented several enforcement measures which significantly increased tax compliance. However, we find that these enforcement efforts were less effective in reducing tax evasion by corporations whose owners are from countries with higher corruption norms. This suggests that cultural norms can be a challenge to legal enforcement. Details: Cambridge, MA: National Bureau of Economic Research, 2011. 47p. Source: Internet Resource: Accessed February 1, 2012 at: http://www.nber.org/public_html/confer/2011/CCf11/DeBacker_Heim_Tran.pdf Year: 2011 Country: United States URL: http://www.nber.org/public_html/confer/2011/CCf11/DeBacker_Heim_Tran.pdf Shelf Number: 123920 Keywords: CorruptionFinancial CrimesTax Evasion (U.S.)White Collar Crime |
Author: Canada. Parliament. House of Commons. Standing Committee on Justice and Human Rights Title: The State of Organized Crime: Report of the Standing Committee on Justice and Human Rights Summary: Organized crime poses a serious long-term threat to Canada’s institutions, society, economy, and to our individual quality of life. Many organized crime groups use or exploit the legitimate economy to some degree by insulating their activities, laundering proceeds of crime and committing financial crimes via a legitimate front. Organized crime groups exploit opportunities around the country and create a sophisticated trans-national network to facilitate criminal activities and challenge law enforcement efforts. The Committee was informed that gangs and organized crime have been with us for at least 150 years. Alienated and disenfranchised young men long ago forged a common bond of lawlessness, using crime as a means of generating wealth. New opportunities for organized crime arrived when illicit drugs became more widely available, due to the increasing ease of international travel and commerce.5 Organized crime involves white collar criminal activity, gang activity and both domestic and foreign participants. Organized crime is of concern not only for its direct impacts, such as the selling of illicit drugs, but also for the indirect impacts, such as the violence that spills into the larger community when rival organized crime groups try to gain control over areas in which to sell drugs. There are immediate and direct costs to the victims of organized crime. These costs can be financial but, more importantly, they can be physical in nature as well as mentally and emotionally traumatic. The losses suffered by victims through such things as the violation of their sense of personal safety and security are long-lasting and difficult to measure. Victims of organized crime can be found everywhere as this type of crime knows no boundaries and carries out its activities in communities of all sizes. Such activities can occur everywhere through such things as fraud over the Internet, the sale of counterfeit goods, and breach of intellectual property laws. The cost of crime is not only a personal one, however, as it is passed on from victims to their insurance companies to businesses and then to consumers. In this way, the personal toll of organized crime becomes a burden on society as a whole. Furthermore, there is also a high price for taxpayers in the form of increased costs for law enforcement and the justice and correctional systems. Domestic policing efforts across Canada increasingly require the development of strategies and programs that address the international components of organized crime. Currently, the Royal Canadian Mounted Police (RCMP) and local law enforcement units are focused on reducing the threat and impact of organized crime. In countering the growth of organized crime groups and dismantling their structures and sub-groups, a critical component is the improved coordination, sharing and use of criminal intelligence and resources. This sharing of information and resources is used in support of integrated policing, law enforcement plans and strategies, and assists the police in communicating the impact and scope of organized crime. The impact of organized crime on the lives of Canadians was certainly communicated clearly to the Committee throughout its hearings. The Committee also heard a level of frustration with how the justice system functions in this regard. There was often an expressed perception that this system operates with a bias in favour of the accused rather than the victim. Details: Ottawa: House of Commons, 2012. 108p. Source: Internet Resource: Accessed july 20, 2012 at: http://publications.gc.ca/collections/collection_2012/parl/XC66-1-411-01-eng.pdf Year: 2012 Country: Canada URL: http://publications.gc.ca/collections/collection_2012/parl/XC66-1-411-01-eng.pdf Shelf Number: 125701 Keywords: GangsOrganized Crime (Canada)White Collar Crime |
Author: Gregoriou, Greg N. Title: Madoff: A Riot of Red Flags Summary: For more than seventeen years, Bernard Madoff operated what was viewed as one of the most successful investment strategies in the world. This strategy ultimately collapsed in December 2008 in what financial experts are calling one of the most detrimental Ponzi schemes in history. Many large and otherwise sophisticated bankers, hedge funds, and funds of funds have been hit by his alleged fraud. In this paper, we review some of the red flags that any operational due diligence and quantitative analysis should have identified as a concern before investing. We highlight some of the salient operational features common to best-of-breed hedge funds, features that were clearly missing from Madoff’s operations. Details: Nice, France: EDHEC Risk and Asset Management Research Centre, EDHEC Business School, 2009. 24p. Source: Internet Resource: Accessed September 24, 2012 at http://docs.edhec-risk.com/mrk/000000/Press/EDHEC_PP_Madoff_Riot_of_Red_Flags.pdf Year: 2009 Country: United States URL: http://docs.edhec-risk.com/mrk/000000/Press/EDHEC_PP_Madoff_Riot_of_Red_Flags.pdf Shelf Number: 126415 Keywords: Financial Crimes, Madoff, BernardFraudWhite Collar Crime |
Author: Keenan, Peter Title: Convictions for Summary Insolvency Offences Committed by Company Directors Summary: The Australian Securities and Investments Commission (ASIC) investigates and prosecutes certain strict liability criminal offences by directors before local and Magistrates’ courts across Australia. Until December 2011, ASIC made public the details of each successful case by periodically releasing conviction reports on its website and through media releases. In this paper, an analysis of the raw information in ASIC conviction reports for the five calendar years 2006 to 2010 is presented to provide statistical data on convictions and fines obtained by ASIC under its court-based enforcement activities, with an emphasis on insolvency offences. The analysis reveals that under its summary prosecution program, ASIC’s focus turned almost exclusively to insolvency crimes committed by directors of collapsed, insolvent companies, where they have failed to assist liquidators. The analysis reveals a trend toward fewer convictions (except in New South Wales) and smaller fines for these ‘fail-to-assist’ offences between 2006 and 2010. This paper also provides background information about the traditional role played by insolvency practitioners in detecting corporate crime and assisting with prosecution, as well as the character and significance of summary insolvency offences. It suggests that prosecution of these summary insolvency offences may be important to the integrity of Australia’s regime of corporate insolvency law. By arrangement with the Commonwealth Director of Public Prosecutions, ASIC is permitted to conduct its own prosecutions of what the Commonwealth Director of Public Prosecutions describes as minor regulatory offences against the Corporations Act 2001 (Cth) (the Act). Under this arrangement, ASIC commenced an expanded summary prosecutions program in 2002 and as part of this, received special funding for a Liquidator Assistance Program. ASIC’s first report on the outcomes of these initiatives showed that most of the convictions achieved between 2002 and 2005 were in respect of offences relating to failure by company officers to assist insolvency practitioners (ASIC 2005). Analysis of similar ASIC reports since 2005 reveals that convictions for such insolvency offences now predominate. Further, analysis of these reports shows a reduction in the average fine being imposed by the courts, a fall in the actual number of defendants convicted and offence rates varying between jurisdictions. The purpose of this scoping study is to analyse and document changes in the number of convictions achieved by ASIC for failure to assist-type insolvency offences identified during the liquidation process, to examine changes in the penalties awarded by the courts for such offences, to illuminate enforcement and prosecution action being taken in an area of white collar crime that is rarely discussed outside the insolvency industry and to point to the nature of the issues that should be examined through additional research. Details: Canberra: Australian Institute of Crimionology, 2013. 8p. Source: Internet Resource: Research in Practice Report no. 30: Accessed February 21, 2013 at: http://www.aic.gov.au/publications/current%20series/rip/21-40/rip30.html Year: 2013 Country: Australia URL: http://www.aic.gov.au/publications/current%20series/rip/21-40/rip30.html Shelf Number: 127688 Keywords: Corporate CrimeEconomic Crime (Australia)White Collar CrimeWhite Collar Offenses |
Author: Ardizzi, Guerino Title: Money Laundering as a Financial Sector Crime - A New Approach to Measurement, with an Application to Italy Summary: Anti–money laundering regulations have been centred on the “Know-Your-Customer” rule so far, overlooking the fact that criminal proceedings that need to be laundered are usually represented by cash. This is the first study which tries to provide an answer to the question of how much of cash deposited via an official financial institution can be traced back to criminal activities. The paper develops a new approach to measure money laundering and then proposes an application to Italy, a country where cash is still widely used in transactions and criminal activities generate significant proceeds. In particular, we define a model of cash in-flows on current accounts and proxy money laundering with two indicators for the diffusion of criminal activities related to both illegal trafficking and extortion, controlling also for structural (legal) motivations to deposit cash, as well as the need to conceal proceeds from tax evasion. Using a panel of 91 Italian provinces observed over the period 2005-2008, we find that the average total size of money laundering is sizable, around 7% of GDP, 3/4 of which is due to illegal trafficking, while 1/4 is attributable to extortions. Furthermore, the incidence of “dirty money” coming from illegal trafficking is higher in the Centre-North than in the South, while the inverse is true for money laundering coming from extortions. Details: Munich, Germany: Center for Economic Studies (CES), the Ifo Institute and the CESifo GmbH (Munich Society for the Promotion of Economic Research), 2013. 30p. Source: Internet Resource: CESifo Working Paper No. 4127: Accessed February 27, 2013 at: http://www.cesifo-group.de/ifoHome/publications/working-papers/CESifoWP/CESifoWPdetails?wp_id=19076139 Year: 2013 Country: Italy URL: http://www.cesifo-group.de/ifoHome/publications/working-papers/CESifoWP/CESifoWPdetails?wp_id=19076139 Shelf Number: 127738 Keywords: ExtortionFinancial CrimesIllegal TraffickingMoney Laundering (Italy)Shadow EconomyWhite Collar Crime |
Author: Schell-Busey, Natalie Marie Title: The Deterrent Effects of Ethics Codes for Corporate Crime: A Meta-Analysis Summary: The current financial crisis, brought on in part by the risky and unethical behaviors of investment banks, has drawn attention to corporate crime, particularly on the issue of how to prevent it. Over the last thirty years, codes of conduct have been a cornerstone of corporate crime prevention policies, and consequently are now widespread, especially among large companies. However, the empirical literature is mixed on the effectiveness of codes, leaving them open to critics who charge that codes can be costly to implement, ineffective, and even criminogenic. In this dissertation I use meta-analysis to examine the evidence regarding the preventative effects of ethics codes for corporate crime. The results show that codes and elements of their support system, like enforcement and top management support, have a positive, significant effect on ethical-decision making and behavior. Based on these results, I propose an integrated approach toward self-regulation founded on Braithwaite's (2002) enforcement pyramid, which specifies that regulation should primarily be built around persuasion with sanctions reserved for situations where a stronger deterrent is needed. Details: College Park, MD: University of Maryland, 2009. 164p. Source: Internet Resource: Dissertation: Accessed May 15, 2014 at: http://drum.lib.umd.edu/bitstream/1903/9289/1/SchellBusey_umd_0117E_10313.pdf Year: 2009 Country: United States URL: http://drum.lib.umd.edu/bitstream/1903/9289/1/SchellBusey_umd_0117E_10313.pdf Shelf Number: 132364 Keywords: Corporate CrimeEthicsFinancial CrimesWhite Collar CrimeWhite Collar Offenses |
Author: Binns, Chelsea Ann Title: Bureaupathology and Organizational Fraud Prevention: Case Studies of Fraud Hotlines Summary: This dissertation examined the effect of organizational bureaucracy on fraud hotline performance. Fraud hotlines are used to receive anonymous fraud tips from employees in all sectors to prevent and detect fraud. This work contributes to the research on fraud hotlines, which today is very light. This work also examined individual hotline performance against organization theory, which is absent in the literature. The literature also doesn't include studies using social media data to determine organizational climate. This work contributes to that literature by providing a collective case study examination of the fraud hotlines in six organizations. Their hotline performance was examined in light of the Theory of Bureaucracy. According to the literature, the condition of organizational bureaupathology can result in crime concealment, reduced fraud reporting, and/or reduced hotline performance. To determine the presence and level of dysfunctional organizational bureaucracy and bureaupathology with respect to employees, the primary audience of fraud hotlines, this study qualitatively measured employee perception of specific bureaucracy and bureaupathology indicators in their workplace by examining their company review submissions in social media Hotlines were evaluated using their individual level hotline metrics/statistics and also by examining their specifications, metrics, functionality, and adherence to best practices. Interviews with hotline administrators, an evaluation of the level of reported organizational fraud, and consideration of the historical context was also considered in evaluating the overall performance of the hotlines. This study ultimately determined there is no consistent relationship between organizational bureaupathology and hotline performance. At times, where an organization had more bureaupathology, the hotline tended to perform better, in terms of its metrics, functionality and adherence to best practices. At other times, hotlines with lower levels of bureaupathology tended to perform worse than their counterparts. These organizations were in the private sector, so the sector where a given hotline is operated may be a factor. This study further found better functioning hotlines didn't have less internal fraud. Organizations where employees perceived a high presence of the bureaucracy indicators "Insistence on the Rights of Office" and "Impersonal Treatment" tended to have a better adherence to hotline best practices, yet had a higher instance of internal fraud in comparison to organizations. In other words, the conditions that contribute to a successful hotline may also give rise to fraud, and or inhibit fraud reporting, in the same organizations. This study further determined fraud hotlines might not prevent fraud. Regardless of hotline performance, including the number of calls received, all of the subject organizations experienced employee crime. These results are contrary to expectations but consistent with bureaupathology theory, which says that employees in excessive bureaucracies adhere strongly to organizational rules and procedures and may be incapable of responding to unpredictable events. As a result of the aforementioned findings, organizational hotline assessment methodology should consider external factors, such as the historical context, presence of internal fraud and employee sentiment as factors in assessing organizational fraud, in assessing hotline performance. Details: New York: City University of New York, 2014. 338p. Source: Internet Resource: Dissertation: Accessed January 22, 2015 at: http://works.gc.cuny.edu/cgi/viewcontent.cgi?article=1170&context=etd Year: 2014 Country: United States URL: http://works.gc.cuny.edu/cgi/viewcontent.cgi?article=1170&context=etd Shelf Number: 134435 Keywords: Corporate CrimeEmployee CrimeFraud HotlinesOrganizational CrimeWhite Collar Crime |
Author: United Nations Economic Commission for Africa Title: Illicit Financial Flow Summary: The 4th Joint African Union Commission/United Nations Economic Commission for Africa (AUC/ECA) Conference of African Ministers of Finance, Planning and Economic Development was held in 2011. This Conference mandated ECA to establish the High Level Panel on Illicit Financial Flows from Africa. Underlying this decision was the determination to ensure Africa's accelerated and sustained development, relying as much as possible on its own resources. The decision was immediately informed by concern that many of our countries would fail to meet the Millennium Development Goals during the target period ending in 2015. There was also concern that our continent had to take all possible measures to ensure respect for the development priorities it had set itself, as reflected for instance in the New Partnership for Africa's Development. Progress on this agenda could not be guaranteed if Africa remained over-dependent on resources supplied by development partners. In the light of this analysis, it became clear that Africa was a net creditor to the rest of the world, even though, despite the inflow of official development assistance, the continent had suffered and was continuing to suffer from a crisis of insufficient resources for development. Very correctly, these considerations led to the decision to focus on the matter of illicit financial outflows from Africa, and specifically on the steps that must be taken to radically reduce these outflows to ensure that these development resources remain within the continent. The importance of this decision is emphasized by the fact that our continent is annually losing more than $50 billion through illicit financial outflows. Details: Addis Ababa, Ethiopia: The Commission, 2015. 126p. Source: Internet Resource: Accessed February 4, 2015 at: http://www.uneca.org/sites/default/files/publications/iff_main_report_english.pdf Year: 2015 Country: Africa URL: http://www.uneca.org/sites/default/files/publications/iff_main_report_english.pdf Shelf Number: 134532 Keywords: Financial Crimes (Africa)Money LaunderingTax FraudTerrorism FinancingWhite Collar Crime |
Author: Anderson, James M. Title: The Changing Role of Criminal Law in Controlling Corporate Behavior Summary: What should be the role of the criminal law in controlling corporate behavior, and how can the execution of that role be improved? On the one hand, corporations have enormous power, and, when a corporation causes harm, there is a natural instinct to apply criminal sanctions, society's most serious expression of moral disapproval. In the wake of a harm in which a corporation had a prominent role, there are often calls for an increased use of the criminal law to tame corporate excesses. On the other hand, criminal liability has historically usually required criminal intent, a concept that applies oddly to a legal construction, such as a corporation. And more recently, critics have decried what they have termed the overcriminalization of corporate behavior, suggesting that there has been an overreliance on the use of criminal law in this context. To provide guidance to policymakers on the proper role of criminal sanctions in this context, RAND Corporation researchers (1) measure the current use of criminal sanctions in controlling corporate behavior, (2) describe how the current regime developed, and (3) offer suggestions about how the use of criminal sanctions to control corporate behavior might be improved. Key Findings There Is Mixed Evidence About the Changing Role of Criminal Law in Regulating and Controlling Corporate Activity - With the exceptions of the application of the Sarbanes-Oxley Act and the Foreign Corrupt Practices Act, the number of criminal prosecutions of corporations has declined in recent years, suggesting less formal prosecutorial activity rather than more. However, use of deferred-prosecution agreements (DPAs), non-prosecution agreements (NPAs), and debarment activity has increased sharply, suggesting that the threat of criminal action is still playing an important role in controlling behavior in this context. Recommendations - Recognize that criminal sanctions in this context are instrumental tools and not moral judgments. Lawmakers should be reluctant to pass statutes that punish without proof of criminal intent, courts should be reluctant to interpret statutes in ways that ignore criminal intent, and prosecutors should bring such prosecutions sparingly. - Have judges review deferred-prosecution and non-prosecution agreements. This practice would provide some assurance that the agreements are genuinely in the public interest and might allow third parties affected by the agreements to air their objections in a neutral forum. Policymakers should give serious consideration to requiring that every DPA and NPA be reviewed by an appropriate federal judge. This practice would provide additional transparency and reassure the public that justice was being served. - Carefully review debarment provisions. Debarment decisions should be made on a case-by-case basis by the relevant governmental agency, depending on the severity of the allegations made and their relevance to the domain of the governmental entity. - Consider substituting the use of civil sanctions. In many cases, civil sanctions that include formal fact-finding might function as well as or better than criminal sanctions. Details: Santa Monica, CA: RAND, 2014. 146p. Source: Internet Resource: Accessed March 9, 2015 at: http://www.rand.org/pubs/research_reports/RR412.html Year: 2014 Country: United States URL: http://www.rand.org/pubs/research_reports/RR412.html Shelf Number: 134766 Keywords: Civil SanctionsCorporate Crime (U.S.)Criminal Law Criminal SanctionsProsecutionSarbanes-Oxley ActWhite Collar Crime |
Author: Kar, Dev Title: Illicit Financial Flows to and from the Philippines: A Study in Dynamic Simulation, 1960-2011 Summary: This study presents a model of the drivers and dynamics of illicit financial flows to and from the Philippines over the period 1960-2011. Illicit flows through unrecorded balance of payments leakages and trade misinvoicing differ from broad capital flight which also includes flows of "normal" or legitimate capital. The larger implication is that models of capital flight that net out a mix of licit and illicit capital are fundamentally flawed. While legitimate capital flows that are recorded can be netted out, flows that are illicit in both directions cannot as the net result would be conceptually equivalent to net crime, an absurd concept. Hence, we argue that traditional models of capital flight understate the problem facing developing countries and they fail to acknowledge the adverse impact that flows in both directions have on them. In contrast, the narrower focus on illicit flows permits an analysis of inflows and outflows, which are treated as separate but interacting transactions that impact both the official and underground economies. Thereby the study affords a fuller understanding of how illicit flows impact a developing country. Starting with a structural equations model the estimation strategy culminates in a vector error correction procedure that yields four salient findings. First, there exists a clear link between illicit inflows and outflows with the latter possibly financing the former. Second, illicit financial inflows drive the underground economy and hamper tax collection. Third, illicit outflows of about US$4.5 billion per annum on average deplete the country's domestic savings, which could hamper sustainable economic growth in the long run. Finally, illicit flows have on average cost the government US$1.5 billion per year in lost tax revenues over the period of 2001-2011. The loss in revenues, representing about 37 percent of the social benefits budget of the consolidated state and local governments in 2011, is significant. Details: Washington, DC: Global Financial Integrity, 2014. 56p. Source: Internet Resource: Accessed June 5, 2015 at: http://www.gfintegrity.org/wp-content/uploads/2014/05/Illicit-Financial-Flows-to-and-from-the-Philippines-Final-Report.pdf Year: 2014 Country: Philippines URL: http://www.gfintegrity.org/wp-content/uploads/2014/05/Illicit-Financial-Flows-to-and-from-the-Philippines-Final-Report.pdf Shelf Number: 131843 Keywords: CorruptionFinancial CrimeMoney LaunderingTax EvasionWhite Collar Crime |
Author: Uhlmann, David M. Title: The Pendulum Swings: Reconsidering Corporate Criminal Prosecution Summary: For more than a decade, the Justice Department morphed its approach to corporate crime, eschewing criminal prosecutions in favor of deferred prosecution and non-prosecution agreements that allowed large corporations to avoid the ignominy of criminal convictions. There seemingly were no crimes that did not qualify for corporate absolution. Then, with public alarm increasing over the lack of criminal prosecutions for the financial crisis, the pendulum swung, and criminal prosecutions were back in vogue. In 2014, the Justice Department brought record-setting criminal prosecutions against two European banks for currency manipulation, followed by similar prosecutions against five American and European banks during 2015. What explains the conflicted approach to criminal prosecution of corporations - and what does it reveal about the theoretical basis for corporate criminal liability? I argue that the Justice Department's erratic approach reflects a lack of agreement among practitioners about what is accomplished by the criminal prosecution of corporations, a disagreement that also exists in scholarly accounts of corporate criminal liability focused on retributive and utilitarian purposes of punishment. The emphasis on retributive and utilitarian theory, while instructive, obscures the expressive function of criminal law and the societal need for condemnation, accountability, and justice when crime occurs, particularly in the corporate setting. In this article, I offer a more complete account of corporate criminal prosecution, which reveals the moral content of corporate crime, considers the deterrent value of corporate prosecution, and explains why the expressive value of the criminal law is indispensable in the corporate context. Corporate wrongdoing has pernicious effects on our communities, the economy, and the environment, which warrant the condemnation the criminal law provides. Criminal prosecution of corporations upholds the rule of law, validates the choices of law-abiding companies, and promotes accountability. Together those values contribute to our sense that justice has been done when crime occurs, which enhances trust in the legal system, provides the opportunity for societal catharsis, and allows us to move forward in the aftermath of criminal activity. When corporations face no consequences for their criminal behavior, we minimize their lawlessness, and increase cynicism about the outsized influence of corporations in our society. Details: Ann Arbor, MI: University of Michigan Law School, 2015. 59p. Source: Internet Resource: Accessed August 24, 2015 at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2642455 Year: 2015 Country: United States URL: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2642455 Shelf Number: 136536 Keywords: Corporate CrimeCriminal LawPunishmentWhite Collar Crime |
Author: Healy, D. Title: Crime, Punishment and Inequality in Ireland Summary: The linkages between crime, punishment, policing and inequality are multifaceted. There is good empirical evidence that certain types of offending, especially homicide, are positively correlated with inequality. In addition a theoretical argument can be made to the effect that inequality creates opportunities for the kinds of corporate and white collar misconduct which, even if not criminal in a narrow legal sense, have far-reaching and damaging social repercussions. For example, the enormous scale of reckless lending, balance sheet manipulation and cynical underestimation by Irish banks will place a greater financial burden on this country's taxpayers than the harms wrought by generations of robbers, burglars and thieves. Other countries caught up in the financial crises that defined the end of the first decade of the twenty-first century will have similar experiences. An exaggerated emphasis on financial success, to the virtual exclusion of other markers of achievement, becomes problematic in a context where there are few restraints on the means chosen to increase wealth. Traditional modes of crime prevention and control have proved insufficiently flexible to deal with a new category of harms perpetrated by a new class of offender; investigating financial malpractice requires new tools and new models of criminal justice. Details: Amsterdam: Amsterdams Instituut voor Arbeids Studies (AIAS), Universiteit van Amsterdam , 2013. 62p. Source: Internet Resource: GINI Discussion Paper 93: Accessed September 11, 2015 at: http://www.uva-aias.net/uploaded_files/publications/93-4-5-4.pdf Year: 2013 Country: Ireland URL: http://www.uva-aias.net/uploaded_files/publications/93-4-5-4.pdf Shelf Number: 136714 Keywords: Financial CrimesInequalityPovertySocioeconomic Conditions and CrimeWhite Collar Crime |
Author: Spanjers, Joseph Title: Illicit Financial flows and Development Indices: 2008-2012 Summary: This June 2015 report, the latest in a series by Global Financial Integrity (GFI), highlights the outsized impact that illicit financial flows have on the world's poorest economies. The study looks at illicit financial flows from some of the world's poorest nations and compares those values to some traditional indicators of development-including GDP, total trade, foreign direct investment, public expenditures on education and health services, and total tax revenue, among others-over the period 2008-2012. The report also produces several scatter plots in which illicit flows values for all developing and emerging market nations are compared to key trade indicators and various development indices, such as human development, inequality, and poverty, to determine if correlations exist between the two. By two different measures of poverty, the study reveals a positive correlation between higher levels of poverty and larger illicit outflows. That is, countries with higher levels of illicit financial flows (relative to GDP) tend to struggle with higher levels of poverty. Details: Washington, DC: Global Financial Integrity, 2015. 56p. Source: Internet Resource: Accessed September 16, 2015 at: http://www.gfintegrity.org/wp-content/uploads/2015/05/Illicit-Financial-Flows-and-Development-Indices-2008-2012.pdf Year: 2015 Country: International URL: http://www.gfintegrity.org/wp-content/uploads/2015/05/Illicit-Financial-Flows-and-Development-Indices-2008-2012.pdf Shelf Number: 136786 Keywords: Corruption Financial Crime Money LaunderingPovertyTax Evasion White Collar Crime |
Author: U.S. Government Accountability Office Title: IRS Whistleblower Program: Billions Collected, but Timeliness and Communication Concerns May Discourage Whistleblowers Summary: Tax whistleblowers who report on the underpayment of taxes by others have helped IRS collect almost $2 billion in additional revenue since 2011, when the first high-dollar claim was paid under the expanded program that pays qualifying whistleblowers a minimum of 15 percent of the collected proceeds. These revenues help reduce the estimated $450 billion tax gap - the difference between taxes owed and those paid on time. GAO was asked to review several aspects of the whistleblower program. Among other things, this report (1) assesses the WO claim review process, (2) assesses how the WO determines awards, (3) evaluates how the WO communicates with external stakeholders, and (4) evaluates IRS's policies and procedures for protecting whistleblowers. GAO reviewed the files of all 17 awards paid under 26 U.S.C. 7623(b) through June 30, 2015; reviewed IRS data; reviewed relevant laws and regulations, and the WO's policies, procedures and publications; and interviewed IRS officials, five whistleblowers that independently approached GAO, and nine whistleblower attorneys who were recommended by IRS or other attorneys. What GAO Recommends Congress should consider providing whistleblowers with legal protections against retaliation from employers. GAO makes ten recommendations to IRS including, tracking dates, strengthening and documenting procedures for award payments and whistleblower protections, and improving external communications. IRS agreed with our recommendations. Details: Washington, DC: GAO, 2015. 65p. Source: Internet Resource: GAO-16-20: Accessed February 9, 2016 at: http://www.gao.gov/assets/680/673440.pdf Year: 2015 Country: United States URL: http://www.gao.gov/assets/680/673440.pdf Shelf Number: 137817 Keywords: Financial CrimesTax EvasionWhistleblowersWhite Collar CrimeWhite Collar Offenses |
Author: Bridgewater, Kevin Title: Don't Look, Won't Find: Weaknesses in the Supervision of the UK's Anti-Money Laundering Rules Summary: Radical overhaul of the UK's anti-money laundering system is needed, if the UK is to close the door to the billions of pounds in corrupt money coming into the country every year, according to a new report by Transparency International UK (TI-UK). A system not fit for purpose: -Poor oversight - The majority of sectors covered in this research are performing very badly in terms of identifying and reporting money laundering. Major problems have been identified in the quality, as well as the quantity, of reports coming out of the legal, accountancy and estate agency sectors. One supervisor even admitted it carried out no targeted AML monitoring at all during 2013. -Lack of transparency - 20/22 supervisors fail to meet the standard of enforcement transparency demanded by the Macrory standards of effective regulation. -Ineffective sanctions - Low fines, in relation to the amounts being laundered, failing to be effective deterrents. Of the 7 HMRC regulated sectors, that includes estate agents, the total fines in 2014/15 amounted to just $768,000. -Independence questioned - Just 7/22 supervisors control for institutional conflicts of interest, whilst 15 are also lobby groups for the sectors they supervise. The research highlights that: -A third of banks dismissed serious money laundering allegations without adequate review -In the accountancy sector, at least 14 different supervisors have some responsibility - leading to widespread inconsistency and variations. -In property, only 179 cases deemed suspicious by estate agents in 2013/14. -Just 15 suspicious cases reported through art and auction houses. Details: London: Transparency International UK, 2015. 76p. Source: Internet Resource: Accessed February 22, 2016 at: http://www.transparency.org.uk/publications/dont-look-wont-find-weaknesses-in-the-supervision-of-the-uks-anti-money-laundering-rules/ Year: 2015 Country: United Kingdom URL: http://www.transparency.org.uk/publications/dont-look-wont-find-weaknesses-in-the-supervision-of-the-uks-anti-money-laundering-rules/ Shelf Number: 137923 Keywords: Financial CrimesMoney LaunderingWhite Collar Crime |
Author: Great Britain. National Audit Office Title: Tackling tax fraud: how HMRC responds to tax evasion, the hidden economy and criminal attacks Summary: According to a report by the National Audit Office published today, HMRC estimates that losses to tax fraud amount to $16 billion each year. This is nearly half of HMRC's estimate of the tax gap ($34 billion): the difference between the amount of tax HMRC should collect each year and the amount it actually collects. Today's report is the first in a series of reports which will evaluate how effectively HMRC tackles different aspects of tax fraud, a longstanding problem not only for HMRC but for tax administrations around the world. Reducing the amount of tax that is lost due to tax fraud is a high priority for HMRC. To do this it will need to make better use of its data and develop its analysis. In 2014/15 HMRC reported $26.6 billion[1] additional revenue from all its compliance work, including work to tackle tax fraud but also work to tackle other parts of the tax gap like error and tax avoidance. HMRC has only partial data on how much of the total yield is derived from its work to counter tax fraud. For example it has more complete information on its work to tackle organised crime than tax evasion. We estimate that between 30% and 40% of total compliance yield is generated by HMRC's activities to tackle tax fraud, but this is an estimate based on partial evidence. HMRC assesses that two groups, smaller businesses and criminals, are responsible for 17 of the 21 biggest tax fraud risks. Of these, 8 relate to organised crime and 9 involve medium-sized, small or micro-businesses. HMRC believes these businesses are responsible for tax losses of $17 billion, almost half of the total tax gap, but does not consider its internal estimate of how much of this is the result of tax fraud robust enough for publication. HMRC has assessed that using its powers to investigate by civil means is usually the best way to recover missing tax at the lowest cost. It pursues criminal prosecution for cases where it believes it needs to send a strong deterrent message or when, given the severity of the fraud, it considers prosecution the only appropriate action. HMRC met its target to increase prosecutions by 1,000 a year by 2014-15, but recognises that it needs to better prioritise the cases it selects for criminal investigation. Although HMRC cannot demonstrate that this was the right number, the target had the effect of prompting the department to change its processes and make its investigations more efficient. This led it to focus on less complex cases, in particular a large number of prosecutions for people who had evaded income tax, VAT and tobacco duty. HMRC has recognised that it needs to prosecute cases that more closely correspond with its analysis of tax fraud risks. HMRC has more to do to understand what benefits it has achieved by increasing the number of prosecutions. In 2014-15, HMRC claimed $295 million in yield from the deterrent effect of its additional 1,000 prosecutions. However, in 2015 HMRC evaluated the deterrent effect of these prosecutions and found that it could not verify their monetary value. HMRC research found increased awareness of prosecutions but could not find evidence they led to changes in behaviour or increases in tax revenues. HMRC is now taking a broader look at its strategy by, for example, starting to shift the balance of its work, placing more emphasis on measures to prevent losses rather than relying so much on investigating them afterwards. It has also improved its assessment of risk, including what risks might occur in the future. It is also working to improve the quality and amount of data it uses as part of an ambitious long-term strategy to transform its business. [1] A significant element of the yield calculation relies on estimates of current and future benefits and is not the amount of cash generated each year from HMRC's enforcement and compliance activities Details: London: NAO, 2016. 50p. Source: Internet Resource: HC 610, Session 2015-16: Accessed March 2, 2016 at: https://www.nao.org.uk/wp-content/uploads/2015/12/Tackling-tax-fraud-how-HMRC-responds-to-tax-evasion-the-hidden-economy-and-criminal-attacks.pdf Year: 2015 Country: United Kingdom URL: https://www.nao.org.uk/wp-content/uploads/2015/12/Tackling-tax-fraud-how-HMRC-responds-to-tax-evasion-the-hidden-economy-and-criminal-attacks.pdf Shelf Number: 138024 Keywords: Financial CrimesTax EvasionTax FraudWhite Collar Crime |
Author: Davis-Nozemack, Karie Title: Lost Opportunities: The Underuse of Tax Whistleblowers Summary: Legal literature on whistleblower programs often assumes an agencys ability to effectively use a whistleblower tip. This article challenges that assumption in the context of tax enforcement by exposing the Internal Revenue Services under-performance. The article uses Fourth Amendment jurisprudence, taxpayer privacy law, as well as whistleblower and tax enforcement literature to propose a new approach to using information from tax whistleblowers. Details: Unpublished paper, 2014. 39p. Source: Internet Resource: Accessed March 10, 2016 at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2483064 Year: 2014 Country: United States URL: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2483064 Shelf Number: 138156 Keywords: Tax Evasion Whistleblower White Collar Crime |
Author: Lonsdale, Jeremy Title: National Trading Standards -- Scams Team Review Summary: Mass marketing fraud (MMF) is broadly defined as a misleading or deceptive business practice in which uninvited contact and false promises are used to con people out of money. These could include lottery and prize draw scams, inheritance scams, get-rich-quick schemes and the selling of bogus products and services. Relatively inexpensive modes of communications, such as the Internet, telephone and direct mail, have transformed MMF activities in the UK and worldwide. National Trading Standards (NTS) established a Scams Team in 2012, initially as a pilot, hosted by East Sussex County Council Trading Standards. It was developed out of a desire to deal more effectively with MMF on a local, regional and national level, and to support victims. The Scams Team's activities are guided by five objectives: To identify victims of fraud To intervene and protect victims from further victimisation To investigate criminal activity To inform local authorities and agencies on how to work with and support scam victims To influence people at local, regional and national levels to take a stand against scams Goals During 2015 and 2016, NTS commissioned RAND Europe to undertake an independent review of the Scams Team to help inform its future development, delivery and effectiveness. The review included: An assessment of the Scams Team in its current form Recommendations for service improvements and future provision in the context of the Consumer Landscape Reforms, building on ideas generated by delivery partners Recommendations for existing measures and measure of consumer detriment Methodology The project team used four main sources to carry out the review: A review of academic and grey literature Interviews with partners, local authorities, Scams Team and NTS members A survey of all 200 local Trading Standards Services A review of documents and data provided by the Scams Team and NTS, which included data on 30,000 UK victims of MMF In addition, the researchers also held a 'Theory of Change' workshop with staff from the Scams Team, to examine how the Team's activities are expected to lead to the overall objectives, also to examine the Team's current methodology for measuring consumer detriment and savings. Findings Based on the analysis of data on 30,000 UK victims of MMF, it was found that these victims lost, on average, $6,744 to scams over their lifetime. The amount lost varied across victims, with the majority losing around $100 to $100; however, one per cent were found to lose more than $100,000. Older people tended to be the most prominent victims of MMF; however, no particular group should be isolated or ignored as potential victims. MMF was found to affect all members of society regardless of their age, class, occupation, socio-economic background, race or gender. Many perpetrators of MMF are based outside the UK, making it a truly global issue. In addition, these perpetrators are often linked to international organised crime, as they are selling MMF models internationally and also involved in other types of crime. There is clear evidence that the work of the Scams Team has helped to identify more victims of MMF and, through interventions with local Trading Standard Services, has helped to reduce the impact of MMF on these victims. The Scams Team has facilitated a coordinated national approach to tackling MMF in the UK, while also introducing a variety of innovative approaches and pilot projects. Based on the evidence available, the Scams Team appears to be delivering significant value for money. Through its work, it was estimated that the Team is saving $27 per $1 invested. Even when only taking into account the savings that the Scams Team is able to identify with a high degree of precision, these are still high - $12 per $1 invested over three years. Details: Santa Monica, CA; Cambridge, UK: RAND, 2016. 96p. Source: Internet Resource: Accessed September 13, 2016 at: http://www.rand.org/content/dam/rand/pubs/research_reports/RR1500/RR1510/RAND_RR1510.pdf Year: 2016 Country: United Kingdom URL: http://www.rand.org/content/dam/rand/pubs/research_reports/RR1500/RR1510/RAND_RR1510.pdf Shelf Number: 140263 Keywords: Consumer FraudFraudMass Marketing FraudScamsWhite Collar Crime |
Author: Collin, Matthew Title: The Impact of Anti-Money Laundering Regulation on Payment Flows: Evidence from SWIFT Data Summary: Regulatory pressure on international banks to fight money laundering (ML) and terrorist financing (TF) increased substantially in the past decade. At the same time there has been a rise in the number of complaints of banks denying transactions or closing the accounts of customers either based in high risk countries or attempting to send money there, a process known as de-risking. In this paper, we investigate the impact of an increase in regulatory risk, driven by the inclusion of countries on an internationally-recognized list of high risk jurisdictions, on subsequent cross-border payments. We find countries that have been added to a high risk greylist face up to a 10% decline in the number of cross border payments received from other jurisdictions, but no change in the number sent. We also find that a greylisted country is more likely to see a decline in payments from other countries with weak AML/CFT institutions. We find limited evidence that these effects manifest in cross border trade or other flows. Given that countries that are placed on these lists tend to be poorer on average, these impacts are likely to be more strongly felt in developing countries. Details: Washington, DC: Center for Global Development, 2016. 52p. Source: Internet Resource: Working Paper 445: Accessed January 27, 2017 at: http://www.cgdev.org/sites/default/files/impact-anti-money-laundering-SWIFT-data.pdf Year: 2016 Country: International URL: http://www.cgdev.org/sites/default/files/impact-anti-money-laundering-SWIFT-data.pdf Shelf Number: 145092 Keywords: Financial CrimeMoney LaunderingTerrorist FinancingWhite Collar Crime |
Author: Shores, Michael Title: Informal Networks and White Collar Crime: An Extended Analysis of the Madoff Scandal Summary: Understanding the nature of white collar crime is a central issue in public policy. Testing the theories presented by Benson, Madensen and Eck (2009), I examine the role of informal religious networks in the criminal activity of Bernard Madoff, perpetrator of one of the largest white collar crimes in United States history. In contrast to previous studies that suggest that religion may reduce the incidence of criminal behavior, I show that the opposite can also be true. Most white collar crimes, like those perpetrated by Madoff, are exploitations of trust, which can be fostered by a shared religious identity between the victim and perpetrator. Using data from the National Center of Charitable Statistics, I construct two measures of Jewish religious network strength at the county level: the concentration of Jewish non-profit organizations and the revenue of Jewish non-profit organizations. Additionally, using data from the Jewish Community Center Association of North America and several U.S. Kosher certification organizations, I construct the number of Jewish community centers and the number of kosher restaurants per county. I show that conditional on the number of high income individuals in a county, residents of counties in which there were stronger Jewish networks were more likely to have been victimized by Madoff. In addition, I show that residents of areas where Madoff lived or worked were more likely to be victims, but that Jewish network strength appears to counteract this "distance effect." Non-profit organizations, which were also victims of Madoff, were less affected by the strength of this informal network. Details: Ithaca, NY: Department of Policy Analysis & Management Cornell University, 2010. 71p. Source: Internet Resource: Thesis: Accessed February 28, 2017 at: https://ecommons.cornell.edu/bitstream/handle/1813/15068/Michael%20Shores%20May10%20thesis.pdf?sequence=2 Year: 2010 Country: United States URL: https://ecommons.cornell.edu/bitstream/handle/1813/15068/Michael%20Shores%20May10%20thesis.pdf?sequence=2 Shelf Number: 141253 Keywords: Criminal NetworksFinancial CrimeFraudWhite Collar Crime |
Author: PriceWaterhouseCoopers Title: Pulling fraud out of the shadows: Global Economic Crime and Fraud Survey 1028 Summary: PwC's 2018 Global Economic Crime and Fraud Survey finds that 49% of global organisations say they've experienced economic crime in the past two years. But what about the other 51%? Have they avoided falling victim - or simply don't know about it? Since fraud hides in the shadows, one of the most powerful weapons in a fraudster's armoury is a lack of awareness within organisations. It's time for all businesses to recognise the true nature of the threat: not as just a nuisance or cost of doing business, but a shadow industry with tentacles in every country, sector and function Details: s.l.: PWC, 2018. 29p. Source: Internet Resource: Accessed March 12, 2018 at: https://www.pwc.com/gx/en/services/advisory/forensics/economic-crime-survey.html Year: 2018 Country: International URL: https://www.pwc.com/gx/en/services/advisory/forensics/economic-crime-survey.html Shelf Number: 149430 Keywords: Corruption and FraudEconomic CrimesFinancial CrimesWhite Collar Crime |
Author: Global Witness Title: Catch me if you can: Exxon's complicity in Liberian oil sector corruption and how its Washington lobbyists fight to keep oil deals secret Summary: This is a story of bribery, suspected secret shareholders, and an audacious attempt by oil giant Exxon to bypass US anti-corruption laws. It is a story of how the American company - headed by Rex Tillerson - appears to have turned a blind eye to earlier corruption when buying an oil license in the impoverished West African country of Liberia. Finally, this is a story of how the US can help end corruption by requiring that oil companies report in detail what they pay to governments. Our key findings include evidence that Exxon: Knew its purchase might enrich former Liberian politicians who were likely behind the block Structured the deal in a way it hoped would bypass US anti-corruption laws Knew Liberia's corrupt oil agency had previously bribed officials to approve oil deals, including the very block it wanted to buy But this isn't just a story about Exxon and Liberia. It's also about how Exxon - along with others in the oil industry - has repeatedly attacked the US anti-corruption and oil transparency law that makes it possible for us to uncover deals done in this notoriously corrupt and opaque oil and gas sector. Details: London: Global Witness, 2018. 38p. Source: Internet Resource: Accessed March 29, 2018 at: Accessed March 29, 2018 at: https://www.globalwitness.org/en/campaigns/oil-gas-and-mining/catch-me-if-you-can-exxon-complicit-corrupt-liberian-oil-sector/ Year: 2018 Country: Liberia URL: Shelf Number: 149606 Keywords: BriberyCorruptionOil IndustryWhite Collar Crime |
Author: Harbinson, Erin Title: Is Corrections "Collar" Blind?: Examining the Predictive Validity of a Risk/Needs Assessment Tool on White-Collar Offenders Summary: Risk/needs assessment tools are essential to implementing supervision and interventions that reduce recidivism in correctional populations (Bonta, 2002). A substantial amount of research exists supporting the use of risk, need, and responsivity principles to reduce recidivism among correctional populations (Smith et al., 2009). However research thus far has not examined whether or how these principles or risk/needs assessment generalize to white-collar offenders (Gendreau et al., 1996). The primary goal of this dissertation is to validate a risk/needs assessment instrument, the Administrative Office of the United States Courts (AOUSC)'s Post Conviction Risk Assessment (PCRA), on a sample of white-collar offenders. To accomplish this goal, a sample of 31,306 white-collar offenders who started supervision under the AOUSC between October 2006 and October 2014 were used to examine the validity of the PCRA in predicting revocation. Results from binary logistic regression identified that PCRA risk levels create statistically significant groups that are associated with a white-collar offender's likelihood of being revoked while on supervision. Results from analyzing the predictive validity of the overall PCRA risk score with revocation supported the use of the PCRA as a strong predictor, showing that white-collar offenders are more likely to be revoked as their scores on the PCRA increase. Additionally, binary logistic regression identified both similarities and differences in significant items from the PCRA for white-collar offenders compared to other types of offenders, suggesting that there may be some unique aspects of risk for white-collar offenders. However, when white-collar offender specific scoring was generated for the PCRA, there were no significant improvements in prediction of revocation within the sample. The results of this study demonstrate that white-collar offenders share similar criminogenic needs to "street" offenders, but sometimes they manifest differently. The study concludes by discussing the overall contributions of this research to the fields of corrections and white-collar crime, and suggests future areas of research. Details: Cincinnati: University of Cincinnati, 2017. 164p. Source: Internet Resource: Dissertation: Accessed April 30, 2018 at: https://etd.ohiolink.edu/pg_10?0::NO:10:P10_ETD_SUBID:153797#abstract-files Year: 2017 Country: United States URL: https://etd.ohiolink.edu/pg_10?0::NO:10:P10_ETD_SUBID:153797#abstract-files Shelf Number: 149965 Keywords: Offender RehabilitationOffender Risk AssessmentOffender SupervisionWhite Collar CrimeWhite-Collar Offenders |
Author: Claypool, Rick Title: Corporate Impunity: "Tough on Crime" Trump Is Weak on Corporate Crime and Wrongdoing Summary: Americans may be divided on many issues, but not on favoring tough enforcement of regulations and laws. Americans are virtually united in support for regulatory enforcement. Polling shows Americans favoring tough regulatory enforcement by an 87-12 margin. Democrats (89), Republicans (85), Independents (87) all agree, as do Americans from all parts of the country: Northeast (86), Midwest (88), South (88), West (84). In focus groups, Americans connect proper and fair enforcement of the rules to concerns about a rigged political and economic system. They favor enforcement to ensure that everyone has a fair shot in society. They want assurances that weak regulatory enforcement does not enable corporations and the rich to play by a different set of rules - with everyday people held to account, but the powerful able to disregard the rules because they know they won't be enforced against them. These views are durable, and withstand counter-messaging. Indeed, Americans express overwhelming support for stronger regulatory enforcement. Americans overwhelming support for tough law-and-order against corporate wrongdoers reflects three interconnected understandings. First, basic standards of justice require that the rules be enforced equally against powerful corporations as they are against vulnerable individuals. Americans of all political stripes perceive that the system is rigged, creating both a crisis of political legitimacy and a pervasive sense of injustice. Second, justice requires that wrongdoers be punished - and corporate violators, who can inflict damage on a scale vastly greater than street criminals, must be punished commensurate with the scale of the harms they impose. Americans of all income brackets, for example, expressed strong support for prosecuting and seeking jail terms for high-level Wall Street executives in connection with the 2008 financial crash. Third, strong enforcement is needed to ensure compliance with the laws and regulations that protect American's quality of life, from clean air safeguards to protections against predatory lenders. Indeed, corporations are the ultimate rational actors. If the chances of being prosecuted for lawbreaking drop and the penalties when caught are slight, we should expect a surge in corporate wrongdoing. That means more workers needlessly injured and killed on the job. It means more consumers ripped off by predatory lenders. It means more preventable contaminated food outbreaks and more avoidable asthma attacks from illegal air pollution. It means more dangerous products on the market, more ripped-off investors, more discrimination on the job. It also means a greatly increased chance of corporate catastrophes, on the scale of the BP Gulf oil disaster and the 2008 financial crash, both of which can be traced directly to regulatory enforcement failures. Americans' views may be clear on the matter of regulatory enforcement, but equally clear is that the Trump administration has a precisely contrary orientation. Officials throughout the administration have made clear that they believe their job is to serve and assist corporations, not hold them accountable. Trump regulators routinely refer to the companies and industries they regulate or oversee as "customers" or "constituents," and explain that they believe regulatory enforcement should be a last resort. At their most aggressive, they make the case for "light touch" regulation. Details: Washington, DC: Public Citizen, 2018. 104p. Source: Internet Resource: Accessed September 14, 2018 at: https://www.citizen.org/sites/default/files/corporate-enforcement-public-citizen-report-july-2018.pdf Year: 2018 Country: United States URL: https://www.citizen.org/sites/default/files/corporate-enforcement-public-citizen-report-july-2018.pdf Shelf Number: 151540 Keywords: Business Crime Corporate Crime Financial Crimes White Collar Crime |
Author: Puckett, Jim Title: Disconnect: Goodwill and Dell, Exporting the Public's E-Waste to Developing Countries Summary: The international toxic trade watchdog organization, Basel Action Network (BAN), released a new report today following a two-year study that involved placing electronic GPS tracking devices into old hazardous electronic equipment such as printers, and computer monitors, and then watching where they travelled across the globe. The report, the first to be released from the project is entitled Disconnect: Goodwill and Dell Exporting the Public's E-waste to Developing Countries, and is released in conjunction with the airing of a PBS NewHour segment entitled The Circuit, as well as an MIT interactive website which graphically shows the overall movement of the tracked devices. BANs eTrash Transparency Project so far has delivered 200 trackers across the US to places where the public is likely to take their old electronics to be recycled such as recyclers and Goodwill stores. The results are in and we now see that instead of being recycled, 65 (32.5%) of these devices, were exported overseas on container ships. Most of them went to Asia, and most were traded in likely violation of the laws of the importing countries. Of the 149 trackers delivered just to recyclers, 39% of these were exported. As a particular focus of the study and the Disconnect report, 46 of the 200 tracker planted electronic devices were delivered to Goodwill Industries stores across the United States. Seven of these later reported their whereabouts in the Asian countries of Thailand, Taiwan, and China (Mainland and Hong Kong). Six of these were part of Dell, Inc.'s Reconnect partnership with Goodwill. Instead of being recycled in the United States as their customers were promised, these devices were exported in violation of Dell's strict policies, and were likely illegal under the laws of the importing countries. The report takes issue with the fact that Goodwill does not even have a policy against export to developing countries, and Dell surprisingly refuses to tell the public whom their recyclers are. As part of the study, BAN traveled to the locations where the Goodwill and Dell and other trackers ended up, even retrieving one of them. Most arrived in the rural mainland border area, New Territories in Hong Kong. In this area the devices arrived at many informal, outdoor junkyards. These unpermitted facilities exposed illegal immigrant laborers and the environment as the workers smash equipment releasing toxic mercury from the LCD monitors or toxic toners from the printers. BAN intends to continue the use of tracking technology, as they believe its use will play a pivotal role in holding an errant and troubled electronics recycling industry to account. They will also make this service available to other civil society organizations, governments, as well as large enterprises. Details: Seattle, Washington: Basel Action Network, 2016. 114p. Source: Internet Resource: Accessed April 20, 2019 at: https://www.ban.org/trash-transparency Year: 2016 Country: International URL: https://s3.amazonaws.com/ban-reports/Trash+Transparency/Disconnect+-+Goodwill+and+Dell+Exporting+the+Publics+E-waste+to+Developing+Countries+Report+-+Print+Version.pdf Shelf Number: 155483 Keywords: Criminal Networks E-Waste Electronic Waste Environmental Crime Environmental Pollution Offences Against the Environment White Collar Crime |
Author: D'Acunto, Francesco Title: Punish One, Teach A Hundred: The Sobering Effect of Punishment on the Unpunished Summary: Direct experience of a peer's punishment might make non-punished peers reassess the probability and consequences of facing punishment and hence induce a change in their behavior. We test this mechanism in a setting, China, in which we observe the reactions to the same peer's punishment by listed firms with different incentives to react - state-owned enterprises (SOEs) and non-SOEs. After observing peers punished for wrongdoing in loan guarantees to related parties, SOEs - which are less disciplined by traditional governance mechanisms than non-SOEs - cut their loan guarantees. SOEs whose CEOs have stronger career concerns react more than other SOEs to the same punishment events, a result that systematic differences between SOEs and non-SOEs cannot drive. SOEs react more to events with higher press coverage even if information about all events is publicly available. After peers' punishments, SOEs also increase their board independence, reduce inefficient investment, increase total factor productivity, and experience positive cumulative abnormal returns. The bank debt and investment of related parties that benefited from tunneling drop after listed peers' punishments. Strategic punishments could be a cost-effective governance mechanism when other forms of governance are ineffective. Details: Unpublished paper, 2019. 56p. Source: Internet Resource: Fama-Miller Working Paper; Chicago Booth Research Paper No. 19-06" Accessed May 2, 2019 at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3330883 Year: 2019 Country: China URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3330883 Shelf Number: 155614 Keywords: Corporate Crime Corporate Fraud Financial Crime Punishment White Collar Crime |