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There is a broad description of fraud debated by academics around the world. The definition of fraud differs between governments, criminal justice departments and private entities. Some questions can make this study important to explain the concept of fraud. This study aims to define the legal concept of fraud. The concept of a word is important to discuss because it explains the meaning of a word and that could answer the question on Macau scam – a fraud?

The content analysis is the research design of this study. Data were obtained by document analysis, including books, papers, journals, case reports and other records relating to fraud. The methods used to interpret the data for this qualitative research are empirical, deductive and inductive.

This study found that the concept of fraud has not yet been defined. This can give rise to a broad interpretation, depending on the action taken by the parties in the cases. On the basis of the context of the dictionary, fraud may be said to be the same thing as deception. Sometimes, the use of words to convey things that are different from, and even at odds with, the actual sense of words. Whereas, from a legal point of view, fraud still occurs as a matter of fact to be determined. This study showed that Macau scam is a fraud.

The implication of this analysis is for scholars and legal professionals to assess the principle of fraud prior to the accusation.

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.

The purpose of this paper is to show a significant overlap in the models accounting research uses for fraud and the models other research disciplines use for greenwashing, and show how researchers and policymakers interested in the application of effective sustainability policy can draw from fraud accounting literature to better understand, and therefore, combat greenwashing. This is illustrated by showing multi-actor information-asymmetry models from other branches of accounting literature and synthesizing them with the fraud triangle model to suggest new avenues for reducing greenwashing and strengthening corporate social responsibility (CSR).

This paper reviews the current literature surrounding the greenwashing aspect of corporate camouflage compares the legal and technical definitions of fraud and synthesizes a new variant fraud triangle that more usefully describes greenwashing.

This paper is able to show that other areas of accounting research in North America have already tackled similar systems of multiple actors in an information-asymmetric environment and that a recurring trait is the emergence of a more robust reporting system. CSR reporting is currently in the process of emerging and could develop more swiftly by copying extant fraud-fighting tools. This is particularly salient given the increasing amount of liability legal regimes are giving to both sustainability activities and sustainability reporting from firms, as evidenced in both guidelines and scandals over the past decade.

Sustainability reporting is not unique in comprising a large number of interrelated entities with non-financial information asymmetry between actors. Previous researchers have encountered similar situations in government accounting and public administration and developed network models to study these relationships as a result. In government accounting, this led to the development both of better diagnostic tools for further research and better models for local governments to use to prevent fraud and malfeasance. This paper suggests that using such research methods in the area of CSR will allow for the development of similarly-useful tools and models.

Visualizing greenwashing as a form of fraud allows policymakers to use tools from the fraud-fighting literature to improve CSR reporting and produce a more robust regime in the future. As governments increasingly seek to respond effectively to material misstatements with an intent to deceive in sustainability reports, understanding the underlying information asymmetry as it is found in other private-public interfaces is critical. Similarly, researchers can analyze CSR reporting through the lens of fraud researchers to gain novel insights into how information asymmetry in CSR reporting works.

Greenwashing is not traditionally seen as a form of fraudulent reporting, even though it often meets the same technical test used to determine fraudulent reporting. The realization that the two are structurally similar allows the authors to better understand how CSR reporting works and how CSR reporting can be falsified. By understanding the latter, governments, firms and non-governmental organizations (NGOs) can develop tools to prevent CSR reporting from being falsified.

This paper suggests a new suite of tools with which to study greenwashing, and with which to fight greenwashing in a sustainability accounting context.

This study aims to propose a law enforcement strategy for investment fraud through comparative studies in the United States of America (USA), Canada and Indonesia, and to identify the factors that cause weak law enforcement on investment fraud with the object of a binary options case study in Indonesia.

This research is a type of legal research, namely, research based on legal materials (library-based). The legal materials used include primary legal materials and secondary legal materials. The approaches used are the statute approach, the case approach and the comparative approach. The data collection technique used in this research is a literature study. The analysis was carried out qualitatively by using an interactive model.

In 2022, the Indonesian Financial Services Authority (OJK) recorded that the total value of public losses because of investment fraud in Indonesia reached 117.4tn IDR. Weak law enforcement is the reason investment fraud thrives in society. Strategies that can be implemented to prevent investment fraud include early detection of new investment fraud modes through the whistleblower program, mutual legal assistance in criminal matters, criminal restitution and improvement of public financial literacy.

This study examines the problems of law enforcement against investment fraud with a case study of binary options in Indonesia. A law enforcement strategy is built on identifying issues and adopting law enforcement policies against investment fraud in Canada and the USA.

For individuals, the results of this research can be used as reading material to increase their understanding of investment fraud. For the government, the results of this study can be a reference in an effort to eradicate the rise of investment fraud cases more effectively and create a safe digital economic space for investors.

The results of this study are expected to be useful in providing recommendations for strategies to strengthen law enforcement against the problems of investment fraud cases so as to form a conducive investment climate in the sense of being safe, comfortable and profitable.

Legal frameworks to prevent investment fraud are rarely discussed. The rise in binary options cases that occur is an indication of weak law enforcement in the investment sector. Therefore, an in-depth study of law enforcement strategies to prevent investment fraud is needed, with comparative studies in the USA, Canada and Indonesia.

Throughout the history of commerce, individuals have searched for informational advantages that will lead to their enrichment. In a time of global capital markets, 24 hours a day trading opportunities, and a professional services corps of market experts, informational advantages are pursued by virtually every market participant. This paper examines one of the most vilified informational advantages in modern capital markets: insider trading. In the USA during the 1980s, insider trading scandals occupied the front pages of not only the trade papers, but also quotidian tabloids. Assailed for its unfairness and characterised by some as thievery, insider trading incidents increased calls for stricter regulation of the marketplace and its participants. In the aftermath of the spectacular insider trading litigation in the USA in the late 1980s, many foreign states began to re‐evaluate the effectiveness of their own regulatory structures. In large part, this reassessment was not the produce of domestic demand, but constituted a response to American agitation for increased regulation of insider trading.

Large-scale financial scandals in business have increased public awareness of fraud and the need for forensic accounting (FA) services. Despite a steadily growing body of knowledge of FA, Huber (2012) argued that the term FA is ill defined. This paper aims to support the development of a nomenclature for FA by gathering evidence on the prevalence of the term in the Southern Hemisphere. Hence the authors ask how, when, where and in which context the term FA appears. In analysing the evidence gathered, the authors also aim to identify changes to the use of the term. Finally, they intend to make suggestions for future development and research relating to the term to advance knowledge. The authors also aim to suggest a definition for the term FA.

To obtain evidence to support the development of an accepted definition for FA, a rigorous search of the literature is performed, using a structured review framework.

The findings of this paper demonstrate the prevalence of the term FA in publications in Australia, New Zealand and South Africa, but that limited publications from SA create opportunities for researchers from emerging economies to publish in the FA field. This meta-analysis shows among others a strong focus on the role of FA in fraud prevention and increased reliance on websites (in contrast to reliance on academic literature) for information on FA. This research identifies changes to the use of the term and concludes that the narrow definition of FA prevails. Delivering on the third objective of this paper, the authors provide insights into future developments in FA and find that a need exists to explore FA in a much wider context.

The research is limited to Australia, New Zealand and South Africa. Limitations exist in that the authors focused particularly on high-quality journals and excluded other journals from our search. As they were specifically searching for the use of the term “forensic accounting”, they excluded any other term, e.g. fraud auditing, from the research. Future research may well expand the search terminology.

Without an established definition of the commonly used term forensic accounting, the general public will be confused about the services that can be expected from forensic accountants. To date, FA definitions have been formulated mostly intuitively; however, if FA is to grow as a field, an accepted definition needs to be formulated.

FA offers a new area of growth in the accounting field. Clarification of exactly what is meant by the term has implications for future careers in the field of accounting.

To date, no study of this nature has been undertaken anywhere in the world.

This study takes the position that the concept of fraud is socially constructed. Moreover, it asks why and how different understandings of fraud have emerged. Insights from the work of Lakoff and Johnson (1999, 2003; Lakoff, 2002, 2004, 2009) are used to analyze language revealing dominant worldviews and metaphors regarding fraud. The research method is a case study (Yin, 2014), and the analytical approach used parallels the one described in O’Dwyer (2004). The research setting is a report issued by the Financial Crisis Inquiry Commission, which provides a context to study different understandings of fraud due to the report’s divided nature. The analysis reveals three alternative worldviews, representing different assumptions about reality, that are at the root of the different understandings of fraud. These worldviews also lead to the usage of different conceptual metaphors which allow the commissioners to interpret facts in a manner that supports each worldview’s assumptions. The paper also concludes by providing a nuanced and critical examination of the results of the commission concerning its understanding of fraud.

Fraud is not yet universally recognised or understood as a crime, in the way that theft is. All sectors of our society recognise shoplifting as a crime, whereas an exaggerated insurance claim tends to be seen more as a matter of personal morality than public law and order.

The purposes in this paper are: engaging in a critical examination of the framework of the banking regulatory framework in India; assessing the operational efficacy of banking regulatory and supervisory mechanisms; and providing an in‐depth legal analysis of the role of the Reserve Bank of India (RBI) as the country's central bank and the principal supervisory authority.

The method used is legal examination of regulatory practice and case‐study based analysis. It relies factually on official publications in the public domain, academic writings and newspaper reports to assess the impact of the fraud and explore the legal, regulatory and financial implications of the supervisory lapses.

The findings in the paper relate to the impact and extent of he Ketan Parekh fraud and the nature and scope of critical central banking supervision lapses. The paper concludes that such lapses can induce systemic problems in a key emerging economy like India especially when it is rapidly entering the second phase of major banking and financial reforms.

Various investigations are still underway as regards the Ketan Parekh fraud and several cases are being heard in courts and tribunals. The full extent of legal and regulatory liability is yet to be fully ascertained.

It is of immense significance to bankers, lawyers, auditors, consultants, researchers, jurists, law enforcement officials and those involved in financial and banking regulation.

The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.