Identity theft: a small step towards big financial crimes

2020 ◽  
Vol 27 (3) ◽  
pp. 897-910
Author(s):  
Chander Mohan Gupta ◽  
Devesh Kumar
Keyword(s):  
Design Methodology ◽  
Secondary Data ◽  
Identity Theft ◽  
Common Type ◽  
Financial Crime ◽  
Small Step ◽  
Research Papers ◽  
Content Type ◽  
Financial Crimes ◽  
Practical Implications

Purpose This paper aims to study the concept of identity fraud and how these identity thefts can actually lead to financial crime. These crimes which usually were done in the traditional way now have taken leaps with the increase in the use of cyber world. Design/methodology/approach Several research papers, articles and newsfeeds were referred to study the concept, growth, scope, effect and impact of identity theft. It was also found that identity theft is the most common type of cybercrimes. Findings Identity theft though a simple crime but if not taken care of can lead to multiple crimes which can affect not only individuals but also companies. And when these crimes impact companies, they can actually hamper the economy as a whole. Practical implications Information for the same is not available very easily, so the study is solely based on secondary data. Social implications Identity theft effects an individual not only financially but also mentally and socially; thus, these effect each and every one in the said economy. Originality/value This paper is an original work of the authors, and it is for the use of students, educators and academicians.

Unearthing money laundering at Brazilian oil giant Petrobras

2019 ◽  
Vol 22 (2) ◽  
pp. 400-406
Author(s):  
Lucas Maragno ◽  
José Alonso Borba
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Financial Crime ◽  
Content Type ◽  
Key Points ◽  
Financial Crimes ◽  
State Agents ◽  
Brazilian History ◽  
Practical Implications ◽  
Allowed State

Purpose This paper aims to provide an overview of key points pertaining to financial crimes taking place during the single largest fraud scandal in Brazilian history. The authors provide details on how the historic fraud was carried out at Petrobras, as well as an overview of recent anti-money laundering regulation in Brazil. Design/methodology/approach The paper is based on an analysis of the scandal and on legal ramifications enacted by the prevailing Public Ministry taking place through the “Lava Jato” operation. Findings Fraud perpetrators continue to find new ways to move laundered money into campaign finance. The authors provide details on how the scheme was perpetrated at the placement, layering and integration stages. Research limitations/implications This study comprehends the first stage of the Federal Police’s operation, comprising 14 allegations of financial crimes. Practical implications A disconnect between regulations in effect and the reality of money laundering in Brazil over several years has failed to impede numerous cases of fraud. However, changes in legislation have allowed state agents to discover cases of fraud, with more and more wrongdoings being investigated. Originality/value The Petrobras fraud, individual experiences of organized financial crime and a widespread lack of understanding of how to detect and prevent fraud on this scale.

Creative accounting a tool for financial crime: a review of the techniques and its effects

2020 ◽  
Vol 27 (2) ◽  
pp. 397-411
Author(s):  
Chander Mohan Gupta ◽  
Devesh Kumar
Keyword(s):  
Empirical Study ◽  
Design Methodology ◽  
Financial Statements ◽  
Financial Crime ◽  
Content Type ◽  
Creative Accounting ◽  
The People ◽  
Financial Crimes ◽  
The World ◽  
Practical Implications

Purpose The purpose of this paper is to study the concept and procedure of creative accounting as how is it worked around and how it can lead to financial crimes. The procedure which are followed and which are the people who are involved and who are the victims of such crimes. The methods which are used to perform the action and how is it done. What are the findings of different researchers who have studied the same concept and how can it be curbed is the main purpose of the paper. Design/methodology/approach This paper is designed to find out the working of accounting policies and how the loopholes in the same can actually be taken into account, resulting in a certain number games which can be played around it, and to get the desired outcome in the preparation of financial statements. Findings Creative accounting, though legal and acceptable around the world, gives in the way to loopholes provided by the acts and rules governing the preparation of financial statements and eventually leading to financial crimes and hampering the economy as a whole. Research limitations/implications The limitations of this study remain to the fact that it is an empirical study, as a lot of papers and articles were studied before giving it a shape and reaching a conclusion. Practical implications Creative accounting though not illegal but the excess use of the same has given daunting effects on the financial statements and as a result have resulted into financial frauds and looting of peoples money throughout the world. Social implications Hard-earned money of the investors is looted and no action can be taken against as the mechanism and the legal bodies are still struggling to curb the problem, and thus it is very important to learn about creative accounting. Originality/value This study leads to the understanding of the growth of creative accounting and how it has resulted in accounting frauds leading to financial crimes in an economy.

The “Halalification” of tourism

2017 ◽  
Vol 8 (4) ◽  
pp. 558-577 ◽  
Author(s):  
Faiza Khan ◽  
Michelle Callanan
Keyword(s):  
Design Methodology ◽  
Secondary Data ◽  
Market Segment ◽  
Analysis Method ◽  
Review Of Literature ◽  
Primary Research ◽  
Content Type ◽  
Starting Point ◽  
Practical Implications

Purpose The purpose of this paper is to address the confusing use of terminology associated with tourism undertaken by Muslims and to identify key concerns associated with this type of tourism. Design/methodology/approach This is an exploratory study and adopts a critical review of literature following the evolutionary concept analysis method. Content analysis of popular UK media, UK-based tour operators’ websites and tourism strategies of destinations popular with Muslim tourists were conducted to examine the use of terminology. Findings There is no clear difference between the various terms (halal, Muslim friendly, Islamic, etc.) used. Overall, academia uses the term Islamic tourism, while the industry and media use various terms. Among destinations, however, there is no clear and consistent use of terminology. A key concern of Islamic tourism is the role of certification in assuring travellers and the lack of standardisation of halal certification. Research limitations/implications The paper is based on literature review and secondary data analysis. It lacks primary research. Practical implications This study highlights the need for consistent use of terminology across industry. Another implication is the issue surrounding halal certification of food and the importance of trust in the seller/service provide. Another trend that industry providers need to consider is the growth of the Muslim millennial traveller and the needs of this market segment. Originality/value The paper highlights the importance of studying the Muslim tourist market and provides a starting point for further research. It highlights several issues such as the need to develop a typology of Muslim tourists. Of particular interest is the concern whether halal values in danger of being commodified in the absence of a universal agreed criterion for halal certification.

Does holding offshore jurisdictions to higher AML standards really assist in preventing money laundering?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Andrew James Perkins
Keyword(s):  
Money Laundering ◽  
Secondary Data ◽  
Cayman Islands ◽  
Content Type ◽  
Task Forces ◽  
Financial Crimes ◽  
Financial Action Task ◽  
Practical Implications ◽  
Combat Money Laundering

Purpose This paper aims to contend that when tackling financial crimes such as money laundering and terrorist financing, international regulators are seeking to hold offshore jurisdictions such as the Cayman Islands to higher standards and that this detracts from the pursuit of detecting and prosecuting money launders. Design/methodology/approach This paper will deal with the following perceived issues: firstly, to offshore jurisdictions as a concept; secondly, to outline the efforts made by the Cayman Islands to combat money laundering and to rate these changes against Financial Action Task Forces’ (FATAF’s) technical criteria; thirdly, to demonstrate that the Cayman Islands is among some of the world’s top jurisdictions for compliance with FATAF’s standards; and finally, to examine whether greylisting was necessary and to comment upon whether efforts by international regulators to hold offshore jurisdictions to higher standards detracts from the actual prosecution of money laundering within the jurisdiction. Findings Greylisting the Cayman Islands in these authors’ view was something that should have never happened; the Cayman Islands is being held to standards far beyond what is expected in an onshore jurisdiction. There is a need for harmonisation in respect of international anti money laundering rules and regulations to shift the tone to prosecution and investigation of offences rather than on rating jurisdictions technical compliance with procedural rules where states have a workable anti-money laundering (AML) regime. Research limitations/implications The implications of this research are to show that offshore jurisdictions are being held by FATAF and other international regulators to higher AML standards than their onshore counterparties. Practical implications The author hopes that this paper will begin the debate as to whether FATAF needs to give reasons as to why offshore jurisdictions are held to higher standards and whether it needs to begin to contemplate higher onshore standards. Originality/value This is an original piece of research evaluating the effect of FATAF's reporting on offshore jurisdictions with a case study involving primary and secondary data in relation to the Cayman Islands.

To disclose or not to disclose? Fashion brands' strategies for transparency in sustainability reporting

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Iva Jestratijevic ◽  
James Ohisei Uanhoro ◽  
Rachel Creighton
Keyword(s):  
Quantitative Study ◽  
Design Methodology ◽  
Secondary Data ◽  
Sustainability Reporting ◽  
Strategic Thinking ◽  
Fashion Industry ◽  
Content Type ◽  
Strategic Disclosure ◽  
Sustainability Disclosure ◽  
Practical Implications

PurposeThe purpose of this quantitative study is to identify disclosure strategies for transparency in sustainability reporting to support strategic thinking around transparency in the fashion industry. This research has two specific research objectives: to capture progress towards greater transparency across sustainability reporting areas, across fashion brands and years, and to identify strategic approaches for transparency in sustainability reporting by revealing common patterns in business disclosure.Design/methodology/approachThe authors cross-sectionally analyzed secondary data using four consecutive Fashion Transparency Indices (2017–2020). Brands' strategies for transparency in sustainability reporting were examined through the stakeholder theory lens.FindingsFindings confirm the presence of four approaches to disclosure: measurable, ambiguous, policy-only and secretive strategy. The disclosure was disproportionally distributed between 30% brands as transparency leaders and 70% brands as transparency laggards. The most transparent brands were not necessarily those rated highest by the index but those whose progress toward transparency was traceable over the years.Research limitations/implicationsThe study has overcome the limitation of the verifiability approach, supporting the requirement for diachronic and strategic disclosure assessments.Practical implicationsAs most brands hesitantly disclose sustainability information, stakeholders cannot know whether business policies equate to more than a corporate wish list. If there is no inspection for mandatory business disclosure, and if there is no penalty for disclosure violations, some fashion retailers will continue to generate profits while operating in an uncompliant and “opaque” manner.Originality/valueThe framing of disclosure strategies for transparency in sustainability reporting is the first scholarly effort to investigate diachronically sustainability disclosure among a big sample of major fashion brands.

Criminal minds: profiling architects of financial crimes

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shazeeda Ali
Keyword(s):  
Design Methodology ◽  
Comprehensive Analysis ◽  
Psychological Disorder ◽  
Financial Crime ◽  
Health Issues ◽  
Content Type ◽  
Psychological Attributes ◽  
Financial Crimes ◽  
Reduction Strategies ◽  
Risk Reduction Strategies

Purpose The purpose of this paper is to construct a profile of a financial criminal, with special emphasis on their psychological attributes. The objective is to determine if such a profile can provide a valuable tool for detecting perpetrators of financial crime and for implementing risk-reduction strategies. Design/methodology/approach The approach involved a review of various personality disorders and other mental health issues, as well as an analysis of a number of cases involving serious financial crime, to ascertain whether the behaviour of the perpetrators was consistent with certain psychological challenges. In addition, the study examined various motivators for the commission of the financial crime. Findings The research revealed some key commonalities among the perpetrators of financial crime and that their behaviour was often consistent with that of a person afflicted with a personality or other psychological disorder. Originality/value The study provides a comprehensive analysis of various personality and other psychological challenges afflicting a number of offenders involved in financial crime. It also provides some critical findings that could be valuable for those charged with establishing measures to prevent and detect financial crime.

Need to pioneer Islamic tourism in tourist resorts in Maldives

2019 ◽  
Vol 11 (4) ◽  
pp. 895-916
Author(s):  
Aishath Muneeza ◽  
Zakariya Mustapha ◽  
Fathimath Nashwa Badeeu ◽  
Aminath Reesha Nafiz
Keyword(s):  
Design Methodology ◽  
Secondary Data ◽  
Legal Framework ◽  
Tourism Industry ◽  
Qualitative Approach ◽  
Financing Structure ◽  
Content Type ◽  
The Subject ◽  
Practical Implications ◽  
Insight Into

Purpose The purpose of this paper is to formulate ways in which Maldives could pioneer Islamic tourism on a befitting framework and financing structure as a leverage to develop its tourism industry. Design/methodology/approach The research uses qualitative approach whereby primary and empirical data on tourism practices as well as relevant laws and guidelines, issued in Maldives and in other Muslim jurisdictions of the Muslim, are analyzed. Doctrinal approach is used in analyzing secondary data on the subject. Findings The research reveals the potential of Islamic tourism in Maldives as well as the challenges that have constrained its development in the country. Certainty is needed in halal products, services and conducts. Codifying extant Maldives Halal Tourism Standards will establish legal framework for a standard Shariah-compliant tourism industry. Islamic financing structure enables mobilizing required funds and address financing constraints. Practical implications This research presents an insight into establishing and developing Islamic tourism industry in the Maldives. Harmonizing tourism regulations with Shariah shall bring about the required consciousness on Shariah compliance in target tourists and their desires. Private individuals can contribute in mobilizing the much needed Shariah-compliant resources to finance Islamic model resorts befitting an Islamic tourism industry. Originality/value The research puts forward proposal that identifies and recognizes a more viable Islamic financing alternative as well as Shariah-compliant regulations to pioneer the development of Islamic tourism in Maldives. The research recommends how to overcome related challenges helps government understand the proposed strategies for establishing Islamic tourism industry.

Q-Bot, the Quarantine Robot: Joint-media engagement between children and adults about quarantine living experiences

2020 ◽  
Vol 121 (5/6) ◽  
pp. 401-409
Author(s):  
Sonia Tiwari
Keyword(s):  
Design Methodology ◽  
Secondary Data ◽  
Past Research ◽  
Content Type ◽  
Media Design ◽  
Hygiene Practices ◽  
Cdc Guidelines ◽  
Open Coding ◽  
Future Work ◽  
Practical Implications

Purpose Information about the COVID-19 pandemic and quarantine can be challenging to communicate to children. The purpose of this study is to understand how a children’s eBook can help facilitate conversations between children, families and educators about the pandemic. Design/methodology/approach A children’s eBook Q-Bot: The Quarantine Robot was shared by the researcher with parents and teachers through social media (Facebook, Instagram and Twitter). The story provides information (based on CDC guidelines) on the best health and hygiene practices to avoid catching the virus, while also drawing attention to the hardworking people who are helping us through this experience. Data was collected as public comments on the eBook. Secondary data included other children’s eBooks available on the same theme and their public reviews. Findings Through open coding of comments, the researcher found that the children’s eBook helped in facilitation of discussion between children, parents and teachers; around the pandemic’s effects on health and hygiene practices; and remote learning experiences. A content analysis of other children’s books on this theme revealed a set of guidelines for designing helpful eBooks for pandemic quarantine situations in general. Research limitations/implications Education, media and health researchers may find this study helpful in understanding the potential of children’s eBooks as probes, prompts or communication tools. Practical implications Experts in pandemic-related issues, educators, illustrators and authors may find this study helpful in understanding guidelines for creating educational children’s eBooks for similar situations in the future. Originality/value Both theoretical and practical values are addressed through this study, as it provides helpful literature from past research, offers new insights from current study and guidelines for future work in narrative media design for the pandemic and other similar situations.

Segmenting, targeting and positioning in Islamic marketing

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammad Mominul Islam
Keyword(s):  
Content Analysis ◽  
Design Methodology ◽  
Secondary Data ◽  
Qualitative Approach ◽  
Content Type ◽  
Social Fabric ◽  
Shape Segmentation ◽  
Whole Process ◽  
The Social ◽  
Practical Implications

Purpose This study aims to conceptualize the basic Islamic marketing (IM) process according to Shari’ah, addressing some of the queries raised by scholars on halal and marketing. Design/methodology/approach A qualitative approach and content analysis have guided to shape segmentation, targeting and positioning (STP) with the help of secondary data from conventional and IM. Required Qur’anic verses and hadiths have been galvanized to shape STP in line with empirical evidence, showing potential marketing implications. Findings This study has accepted Islamic resources to segment markets, mentioning mankind, non-Muslims, Muslims, generic, halal and Islamic products. It has proposed to target mankind, non-Muslims markets with generic and halal products. Muslim marketers can target the pious Muslim consumers with Islamic products. For positioning, the halal certification has been suggested for the non-Muslim marketers and Islamization is for Muslim marketers. The whole process has been conceptualized in a single framework. Practical implications Marketers can have many product development ideas and basic guidelines and scholars may be able to sense some queries as to IM. Social implications This study has shown how inter-religious relationships can be harmonized with carrying out marketing functions to keep the social fabric following the Qur’anic verses. Originality/value This study has outlined the IM process as per Muslim and non-Muslim marketers’ needs under Shari’ah. Besides, it has answered some questions on halal and IM that has been hardly addressed before.

How tall is your claim? Strategically acing patent scope

2020 ◽  
Vol 36 (4) ◽  
pp. 1-3
Author(s):  
Mayuree Sengupta
Keyword(s):  
Real World ◽  
Design Methodology ◽  
Contemporary Literature ◽  
Academic Discourse ◽  
Research Papers ◽  
Content Type ◽  
Research Findings ◽  
Patent Grant ◽  
Patent Scope ◽  
Practical Implications

Purpose The article examines strategically directing the breadth of scope of a patent and hazards of litigation vis-à-vis the length of claims for innovating firms. Design/methodology/approach This paper enumerates latest literature on assessing patent scope and hence protection afforded to firm innovations. Based on prior research findings, this paper proposes to maintain a balanced and nuanced approach to claim drafting to assure grant of patent while minimizing litigation threats. Findings To strategically manage patent grant and minimize litigation threat, firms would better take a leaf out of academic discourse and streamline claim drafting – not too wide to earn an examiner’s ire and not too narrow to let an infringer bypass by. Unlike smaller firms or universities, big firms are less likely to renew a patent with less scope. Research limitations/implications The study sample in contemporary literature is exclusive to patents from US Patent and Trademark Office. Whether the same result will be replicated for diverse countries is uncertain. Practical implications The understanding that patent scope not only influences grant chances but also is an indicator of future litigation threat can help patent practitioners and innovating firms in strategically directing the patent. Originality/value The paper draws from the findings of three well-articulated recent research papers. The paper’s originality and value is in providing practical insights on how to perfect patent scope in a real world based on academic discourse.

Sign in / Sign up

Export Citation Format

Share Document