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Book part
Publication date: 10 February 2020

Yüksel Akay Ünvan

Financial crimes involve several offenses without violence with some people obtaining financial benefit and causing financial loss to some others. The globalization of…

Abstract

Financial crimes involve several offenses without violence with some people obtaining financial benefit and causing financial loss to some others. The globalization of financial systems, the growing volume of trading transactions, and the acceleration of information technologies have brought many conveniences to the financial world; but unfortunately, financial crime has spread and diversified. Therefore, the fight against financial crimes, which are often complex and organized in a way which is nonviolent but causes significant financial damage to people and organizations, is gaining importance. In this sense, the struggle against this type of crime, which has become a serious threat, must be resolved by applying a comprehensive policy that should include all segments of the society.

In this chapter, we aim to give a general framework of financial crimes and carry out a literature review on the subject. Moreover, we outline the different types of financial crime (such as money laundering, insider dealing, fraud, market abuse, bribery, corruption, terrorist financing, white collar crimes, tax evasion, embezzlement, forgery, counterfeiting, identity theft, etc.) and their impact. As a result, this study has the purpose of providing awareness by drawing attention to the concept of financial crime, which is an important threat nowadays that an ordinary person may suffer at any time in daily life.

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Contemporary Issues in Audit Management and Forensic Accounting
Type: Book
ISBN: 978-1-83867-636-0

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Article
Publication date: 18 November 2020

Georgy Rusanov and Yury Pudovochkin

This paper aims to study the role of money laundering in the system of modern crime.

Abstract

Purpose

This paper aims to study the role of money laundering in the system of modern crime.

Design/methodology/approach

The methodology of this research will include the study of quite obvious relationships, which in themselves do not need special substantiation today, namely, money laundering and terrorism; money laundering and corruption; money laundering and organized crime.

Findings

The following methods are used in the research process: studying the sentences of the courts of the Russian Federation related to the conviction of persons for money laundering; analysis of national judicial statistics and statistics of international organizations related to money laundering; a survey of 96 experts (law enforcement officers, scientists specializing in the study of combating money laundering, government officials whose powers include activities to combat money laundering and the financing of terrorism).

Originality/value

Based on the results of the study, a number of conclusions were made. In particular, at present, in view of the built-up effective system of measures to control the income received as a result of certain types of criminal activity (corruption crime, organized crime, economic crime), money laundering has taken a leading role in the structure of modern crime.

Details

Journal of Money Laundering Control, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 29 July 2021

Rabia Muhammad Amjad, Abdul Rafay, Noman Arshed, Mubbasher Munir and Maryam Muhammad Amjad

The Financial Action Task Force defines money laundering as “processing of these criminal proceeds to disguise their illegal origin”. This is the major portion of…

Abstract

Purpose

The Financial Action Task Force defines money laundering as “processing of these criminal proceeds to disguise their illegal origin”. This is the major portion of financial crime that has ties across borders and like all financial crimes which are well planned and camouflaged, this crime is difficult to detect and deter. Over the years, on one side, globalization has provided development opportunities, it has also become one reason for the pervasiveness of money laundering. This has led to a disturbance in the global financial system and social unrest as proceeds from money laundering are being used in terrorism. The purpose of this study is to explore the non linear effect of globalization on financial crime in the form of money laundering.

Design/methodology/approach

An investigation based on 119 developing countries from the time period of 1985 till 2015 is conducted in this study. The panel quantile regression model was used to estimate antecedents of money laundering.

Findings

The study confirmed that globalization follows an inverted U-shaped relationship with money laundering. Furthermore, indicators such as investment portfolio and socioeconomic conditions have a significant effect on money laundering.

Originality/value

The panel quantile regression model was used to estimate antecedents of money laundering.

Details

Journal of Money Laundering Control, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 18 May 2020

Tage Alalehto

In 1988, Donald Cressey published a previously overlooked article. According to Cressey, there was a lack in the agenda of corporate crime research concerning theory and…

Abstract

Purpose

In 1988, Donald Cressey published a previously overlooked article. According to Cressey, there was a lack in the agenda of corporate crime research concerning theory and conceptual precision of what exactly the scientific object was and how it could reinforce the understanding of white-collar criminality. Cressey stated the idea that a fictitious person, such as a corporation, upon which were bestowed properties such as a will of its own (intentions and motivations) and a consciousness to act morally and ethically have a responsibility to follow the order of law, leds to a fundamental theoretical problem in terms of discovering the causes of crimes committed by such a fictitious person. I follow this line of thought about the arguments made by representatives of corporate crime. Specifically, I follow the concept of “decoupling,” by using various techniques of formal logic. The conclusion is that the concept of corporate crime is a logical contradiction (an eternal false statement), but the research has one analytical point which must be incorporated into the research of white-collar criminality: how structural conditions of a corporation’s policy and strategy “produce” or influence the individuals within the corporation to make decisions. The aim of the paper is to prove on logical grounds that the direction of research on corporate crime is on the wrong track to find the truth (basic elements and mechanisms) about white-collar crime.

Design/methodology/approach

Using formal logic, specifically modal logic.

Findings

The concept “corporate crime” is a logical contradiction.

Research limitations/implications

Concerning the conclusion, the implications has to be that corporate crime is a misleading concept in the research agenda of white-collar crime.

Practical implications

The authors have to reconsider the whole research field of corporate crime research.

Originality/value

To best of my knowledge, no one has before done a critic of corporate crime concept by formal logic.

Details

Journal of Financial Crime, vol. 27 no. 4
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 14 June 2021

Mariem Mejri, Hakim Ben Othman, Basiem Al-Shattarat and Kais Baatour

The purpose of this interdisciplinary cross-country study is to investigate the influence of cultural tightness-looseness on money laundering.

Abstract

Purpose

The purpose of this interdisciplinary cross-country study is to investigate the influence of cultural tightness-looseness on money laundering.

Design/methodology/approach

The authors rely on tightness-looseness theory as the basis for their predictions. The authors use the Basel Anti Money Laundering Index to operationalize financial crimes. They use dynamic panel data regressions spanning from 2012 to 2018 across 66 countries.

Findings

The authors find a positive and significant effect of national culture on money laundering financial crime. This suggests that financial crimes increase in countries with higher levels of cultural looseness orientation. Moreover, the authors show that the absence of violence, control of corruption, political stability and voice and accountability has a significant and negative influence on money laundering financial crime.

Practical implications

Formal institutional factors are not the only factors that can help curb financial crimes, but policy regulators should also consider the degree of cultural tightness-looseness.

Originality/value

To the best of authors’ knowledge, this is the first research ever to examine the effects of cultural tightness-looseness on the level of financial crimes.

Details

Journal of Money Laundering Control, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 24 June 2021

Elke Van Hellemont and James Densley

In their 1999 classic, Crime is Not the Problem, Zimring and Hawkins changed the way criminologists thought about crime and violence simply by forcing us to distinguish…

Abstract

Purpose

In their 1999 classic, Crime is Not the Problem, Zimring and Hawkins changed the way criminologists thought about crime and violence simply by forcing us to distinguish between them. In so doing, they advanced an agenda for a more effective response to the real “crime” problem in America – violence. In this short commentary, the authors apply this logic to gang research and responses. The authors argue police fall short in responding to “gangs” because researchers and policymakers have defined them in terms of criminal behaviour writ large, not the problem that really needs policing – the precise social and spatial dynamics of gang violence. The purpose of this paper is to stand on the shoulders of others who have stated violence trumps gangs when it comes to policy and practice and provide a conceptual review of the literature that captures mainstream and critical perspectives on gangs and offers both sides some common ground to start from as they contemplate “policing” gangs with or without police.

Design/methodology/approach

A review of the extant literature.

Findings

The authors stand on the shoulders of others who have stated violence trumps gangs when it comes to policy and practice, to provide a conceptual review of the literature that captures mainstream and critical perspectives on gangs, in North American and European contexts, and offers both sides some common ground to start from as they contemplate “policing” gangs with or without police.

Originality/value

The paper is a conceptual piece looking at policing gang violence versus gang crime. The paper aims to restart the debate around the role of crime in gangs and gangs in crime. This debate centres around whether gangs should be understood as primarily criminal groups, whether “the gang” is to blame for the crime and violence of its members and what feature of collective crime and violence designate “gangness”. We use that debate to reflect past and current police practices towards gangs.

Details

Journal of Aggression, Conflict and Peace Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-6599

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Article
Publication date: 1 January 2003

Kate Moss

In December 2001 the then Department of Transport, Local Government and the Regions (DTLR but now currently the Office for the Deputy Prime Minister, hereafter referred to…

Abstract

In December 2001 the then Department of Transport, Local Government and the Regions (DTLR but now currently the Office for the Deputy Prime Minister, hereafter referred to as ODPM) issued the tender document it had promised for the review and update of 5/94 Planning Out Crime (Home Office, 1994) The specification was for good practice guidance on planning out crime to be written within 6 months. Notwithstanding this exercise, the writer contends that in the face of the research, literature, legislation and expertise in relation to designing out crime, papers issued by ODPM and the form of the tender document itself demonstrate that it remains uncommitted to many of the accepted principles of design‐against‐crime and to the cross‐cutting crime reduction obligations of the police and local authorities under the 1998 Crime and Disorder Act. The author anticipates that this lack of commitment may be evident in the forthcoming revised planning out crime guidance and suggests possible approaches to this potentially influential document.

Details

Safer Communities, vol. 2 no. 1
Type: Research Article
ISSN: 1757-8043

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Article
Publication date: 1 September 1996

Caroline Elliott and Dan Ellingworth

Various authors have tested for the presence of a relationship between unemployment and crime, employing time‐series or cross‐sectional data. However, little use has been…

Abstract

Various authors have tested for the presence of a relationship between unemployment and crime, employing time‐series or cross‐sectional data. However, little use has been made of the British Crime Survey. Consequently, in the present paper, we test for the presence of a relationship between male unemployment and crime, using regional and area‐level crime data from the 1992 British Crime Survey, with socio‐economic and demographic data being taken from the 1991 census. Use of these data sets allows us to look at four differing measures of crime: we can study possible relationships between male unemployment and the incidence, and prevalence, of both property and personal crimes. Area‐level data are also employed to test more ecological explanations of spatial crime patterns.

Details

International Journal of Manpower, vol. 17 no. 6/7
Type: Research Article
ISSN: 0143-7720

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Article
Publication date: 1 February 1997

Ye Feng

The crime of embezzlement and bribery is a wide‐spread crime in the present‐day world. It impairs the property relationship protected by the law and the reputation of…

Abstract

The crime of embezzlement and bribery is a wide‐spread crime in the present‐day world. It impairs the property relationship protected by the law and the reputation of state organs and personnel. The party in power and the government in China have always persisted in fighting corruption and building clean and honest government and concentrated on using legal weapons to fight the crime of embezzlement and bribery resolutely. In recent years, China has made tremendous gains in fighting this crime. For 17 years, from 1979 to 1995, the Chinese procuratorial organs investigated and dealt with more than 458,000 cases of embezzlement and bribery. Meanwhile, it should be recognised that the crime is still a serious problem which hinders China's great cause of reform and opening up to the outside world. In particular, during the period of the transition from the old economic structure to the new one, the crime of embezzlement and bribery in this country shows many new characteristics. The major manifestations of the crime are listed below.

Details

Journal of Money Laundering Control, vol. 1 no. 2
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 1 October 2003

Gordon Hughes

This article traces the development of ideas and policies linked to the shifting definitions of crime reduction, prevention and community safety. The conceptual changes…

Abstract

This article traces the development of ideas and policies linked to the shifting definitions of crime reduction, prevention and community safety. The conceptual changes are often difficult to define due to imprecision and breadth. Community safety is sufficiently broad to be concerned with a range of harms and hazards beyond crime and disorder, which may become the focus of the emerging new forms of government.

Details

Safer Communities, vol. 2 no. 4
Type: Research Article
ISSN: 1757-8043

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