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.

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.

Role of money mules in money laundering and financial crimes a discussion through case studies

2020 ◽  
Vol 27 (3) ◽  
pp. 911-931
Author(s):  
Muhammad Subtain Raza ◽  
Qi Zhan ◽  
Sana Rubab
Keyword(s):  
Case Studies ◽  
Money Laundering ◽  
Design Methodology ◽  
Internet Usage ◽  
Financial Crime ◽  
Content Type ◽  
Financial Condition ◽  
Financial Crimes ◽  
The World

Purpose This paper aims to explain the role of money mules in money laundering and financial crimes through the discussion of case studies. The authors also explain the red flags of money mules and provide advice. Design/methodology/approach The authors use a case analysis approach. The paper mainly discusses ten cases about the use of money mules in financial crimes. Findings It has been found that money mules help criminal syndicates to remain anonymous while moving funds around the world. The unemployment, internet usage involvement of teenagers and youth in money laundering-related crime around the world are on a rising trend, and criminals are constantly looking for their victims by exploiting their mental and financial condition. Originality/value This paper provides case studies to understand the role of money mules in money laundering and financial crime.

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.

How Phillips saw the light

2020 ◽  
Vol 36 (8) ◽  
pp. 29-31
Keyword(s):  
Design Methodology ◽  
Reading Time ◽  
Daily Basis ◽  
Business World ◽  
Content Type ◽  
Freak Show ◽  
The World ◽  
Pertinent Information ◽  
The One ◽  
Practical Implications

Purpose Reviews the latest management developments across the globe and pinpoints practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings The problem with developing a reputation of being something of an oracle in the business world is that all of a sudden, everyone expects you to pull off the trick of interpreting the future on a daily basis. Like a freak show circus act or one-hit wonder pop singer, people expect you to perform when they see you, and they expect you to perform the thing that made you famous, even if it is the one thing in the world you don’t want to do. And when you fail to deliver on these heightened expectations, you are dismissed as a one trick pony, however good that trick is in the first place. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Stairways to heaven: implementing social media in organizations

2013 ◽  
Vol 17 (5) ◽  
pp. 741-754 ◽  
Author(s):  
Moria Levy
Keyword(s):  
Social Media ◽  
Knowledge Management ◽  
Empirical Study ◽  
Design Methodology ◽  
Applied Research ◽  
Service Marketing ◽  
Content Type ◽  
Four Levels ◽  
Functional Components ◽  
Practical Implications

Purpose – This paper is aimed at both researchers and organizations. For researchers, it seeks to provide a means for better analyzing the phenomenon of social media implementation in organizations as a knowledge management (KM) enabler. For organizations, it seeks to suggest a step-by-step architecture for practically implementing social media and benefiting from it in terms of KM. Design/methodology/approach – The research is an empirical study. A hypothesis was set; empirical evidence was collected (from 34 organizations). The data were analyzed both quantitatively and qualitatively, thereby forming the basis for the proposed architecture. Findings – Implementing social media in organizations is more than a yes/no question; findings show various levels of implementation in organizations: some implementing at all levels, while others implement only tools, functional components, or even only visibility. Research limitations/implications – Two main themes should be further tested: whether the suggested architecture actually yields faster/eased KM implementation compared to other techniques; and whether it can serve needs beyond the original scope (KM, Israel) as tested in this study (i.e. also for other regions and other needs – service, marketing and sales, etc.). Practical implications – Organizations can use the suggested four levels architecture as a guideline for implementing social media as part of their KM efforts. Originality/value – This paper is original and innovative. Previous studies describe the implementation of social media in terms of yes/no; this research explores the issue as a graded one, where organizations can and do implement social media step-by-step. The paper's value is twofold: it can serve as a foundational study for future researches, which can base their analysis on the suggested architecture of four levels of implementation. It also serves as applied research that will help organizations searching for social media implementation KM enablers.

How to do business in Brazil

2017 ◽  
Vol 33 (8) ◽  
pp. 36-38
Keyword(s):  
Developing Countries ◽  
Latin America ◽  
Design Methodology ◽  
Reading Time ◽  
Content Type ◽  
Business People ◽  
The World ◽  
Pertinent Information ◽  
Specific Culture ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings It is said that Latin America is one of the hardest places in which to do business, and within Latin America as well as considering the differing challenges that Argentina or Columbia may present, Brazil is perhaps the most difficult place to go to in order to develop trade and commercial agreements. In addition to the different language as compared to the rest of the region, there is a very specific culture and life view that will be wholly alien to many business people, whether they are from developed or developing countries around the world. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

The fierce urgency to create safe spaces for the heart in relation to sustainability

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Louise Livingstone
Keyword(s):  
Creative Thinking ◽  
Design Methodology ◽  
Content Type ◽  
Safe Spaces ◽  
Doctoral Research ◽  
The World ◽  
Moral Superiority ◽  
The Mind ◽  
Practical Implications ◽  
Made In

Purpose The paper aims to rediscover the subtle heart and discuss its importance in relation to conversations regarding sustainability. Design/methodology/approach Based on the imaginal approach of the author’s doctoral research, this paper is informed by the discourse of transpersonal psychology, attempting to open a space through which it becomes possible to perceive the heart differently. Findings This paper discusses the idea that knowledge as generated through the heart has been rendered subservient to knowledge generated through the mind/brain through a dominant/medical narrative (Bound Alberti, 2012). This means that the heart’s wisdom and the heart’s benevolent qualities cannot gain traction at the level at which decisions are made in society. Research limitations/implications While the heart is not unproblematic, and can carry notions of moral superiority, this paper is written as an appeal to create safe enough spaces to bring the heart back into conversation at the level of political discourse. Practical implications This paper suggests that it is the approach of the heart, the qualities and characteristics that the heart embodies, and the different way of being in the world that the heart makes possible, which could play an important role in guiding us towards a more sustainable world. When taken seriously, the heart offers a way of engaging with, and thinking about, ideas of relationship, wholeness and interconnection – all of which have been identified as important by numerous scholars in relation to engaging with global challenges (de Witt, 2016). Social implications This paper suggests that it is the approach of the heart and the different way of being in the world that the heart makes possible, which could play an important role in guiding humanity towards a more sustainable world. Originality/value Since the late 1900s, scholars have been calling for creative thinking in relation to engaging with the myriad of issues facing our planet, and this paper is written as a response to that call – creating a platform for the heart to speak and making a case for its importance in conversations relating to sustainability.

The big bath of demonetization in India: strike on black money for corporate governance

2018 ◽  
Vol 21 (4) ◽  
pp. 594-600 ◽  
Author(s):  
Sandeep Goel
Keyword(s):  
Corporate Governance ◽  
Design Methodology ◽  
Content Type ◽  
Positive Effects ◽  
Corporate World ◽  
The World ◽  
Future Improvement ◽  
Policy Measures ◽  
The Government ◽  
Practical Implications

Purpose This paper aims to focus on the concept of abolition of black money and the demonetization movement started in India for cleaning black money and its impact on corporate world and Indian economy. It discusses the corporate governance effect of the demonetization scheme and various policy measures taken by the government to unearth and curb the black money in the country. It also states the challenges in its process of implementation and implications for future. Design/methodology/approach It appraises and reviews the concept of demonetization and its process in India since its implementation on November 8, 2016. Findings The biggest positive effects of this move were eradication of stocked and staked up money, cleansing of the financial system and improving governance in India. But its implementation had mix outcomes with its own challenges for future improvement. Practical implications The lessons drawn from the experience are expected to pave way for the countries at large. Originality/value It is an original paper on demonetization in India, and it is hoped that the lessons learnt thereof will pave the way for the world at large.

Motivations, barriers and readiness factors for Quality 4.0 implementation: an exploratory study

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Michael Sony ◽  
Jiju Antony ◽  
Jacqueline Ann Douglas ◽  
Olivia McDermott
Keyword(s):  
Empirical Study ◽  
Exploratory Study ◽  
Design Methodology ◽  
Online Survey ◽  
Practical Relevance ◽  
Theoretical Base ◽  
Content Type ◽  
Body Of Knowledge ◽  
Practical Implications

PurposeQuality 4.0 is the new buzzword among quality professionals. There has been no empirical study of Quality 4.0 yet. Hence, the purpose of this paper is to investigate what are the motivations, barriers and readiness factors for Quality 4.0 implementation.Design/methodology/approachThis study uses an online survey on senior quality professionals working in leading companies in Europe and America. In total, 50 participants participated in this study.FindingsThis study finds the top five motivating, barriers and readiness factors for Quality 4.0 implementation. These factors are ranked in terms of the order of importance as perceived by senior quality professionals.Research limitations/implicationsThis is the first empirical study on Quality 4.0 that investigates the motivation, barriers and readiness factors of Quality 4.0. This study provides a theoretical base of Quality 4.0 body of knowledge in terms of its practical relevance and adoption in modern-day organizations.Practical implicationsOrganizations can use this study to understand what the motivation and barriers for implementing Quality 4.0. In addition, before implementation of Quality 4.0, the readiness factor for Quality 4.0 can be used by organizations to evaluate their preparedness before the actual implementation of the initiative.Originality/valueThis is the first empirical study on Quality 4.0 that captures the viewpoints of senior quality professionals on the motivation, barriers and readiness factors of Quality 4.0.

Polish perceptions on changing the world with sustainable entrepreneurship

2021 ◽  
Vol 37 (4) ◽  
pp. 19-21
Keyword(s):  
Value Creation ◽  
Design Methodology ◽  
Business Models ◽  
Design Stage ◽  
Model Design ◽  
Content Type ◽  
Coffee Waste ◽  
The World ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings This research paper highlights how circular economy business models focus on the regenerative value creation inherent in reusing resources and waste. Circular startup transformations see founders moving out of sustainability-focused mindsets and into taking specific action to construct innovative circular business models. The purpose-led founders combined environmental and economic goals to produce scalable engines capable of inspiring and educating customers and larger companies on the beauty of reusing waste. Solving universal problems at their business model design stage allowed the Polish startups – for example, EcoBean who make renewable energy coffee briquettes from coffee waste – to offer value to international customers. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

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