Senior financial exploitation through wills, trusts, and guardianship: basics, red flags and prevention measures

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Martina Kirsten Schmidt ◽  
Nicole Forbes Stowell ◽  
Carl Pacini ◽  
Gary Patterson
Keyword(s):  
Law Enforcement ◽  
Well Being ◽  
Financial Fraud ◽  
Red Flags ◽  
Prevention Measures ◽  
Effective Prevention ◽  
Content Type ◽  
Financial Exploitation ◽  
Different Sources ◽  
Practical Implications

Purpose The purpose of this paper is to discuss financial fraud and exploitation against seniors relating to wills, trusts and guardianship. The paper describes how this fraud affects its victims, points out red flags and makes recommendations that may help control this pervasive type of fraud. Design/methodology/approach Information from a range of different sources, such as journal publications, law textbooks, law enforcement websites and estate planning cases are used as a basis to provide information about how fraudsters are committing this type of fraud, which red flags to watch out for and how to prevent this fraud from occurring. Findings Fraud relating to wills, trusts and guardianship is oftentimes difficult to detect and continues to be a grave threat to its victims. While this fraud will likely never be eradicated, specific efforts have been put into place to track financial exploitation. Further steps presented in this paper can be deployed to help rein in these fraud schemes. Practical implications The paper provides useful information about frauds related to wills, trusts and guardianship for stakeholders. This includes, but is not limited to, anyone whose work is related to seniors, such as accountants, lawyers, regulators, bankers, financial planners, law enforcement personnel, academics, medical professionals, caregivers, family members and ethicists. These stakeholders can use this information to help combat this fraud and prevent not only financial losses of seniors but physical harm as well. Social implications Decreasing financial exploitation of seniors will not only improve their financial position and may reduce their reliance on Medicaid but will also improve their mental and physical well-being and save lives. Originality/value Research in the area of maltreatment and exploitation of older adults is still in its early stages, as knowledge of effective prevention, intervention and remediation practices are limited. This paper adds to the research in this arena by drawing on a unique set of resources that shed light on financial fraud commonly committed against seniors. This study also makes much needed recommendations that are aimed to prevent this threat related to wills, trusts and guardianship.

FATCA violation underlies latest US tax and securities fraud charges

2015 ◽  
Vol 16 (1) ◽  
pp. 74-76
Author(s):  
Miriam Fisher ◽  
Brian McManus
Keyword(s):  
Law Enforcement ◽  
Service Providers ◽  
Task Force ◽  
Tax Compliance ◽  
Financial Fraud ◽  
Securities Fraud ◽  
Content Type ◽  
The Impact ◽  
First Time ◽  
Practical Implications

Purpose – To explain the details and implications of a September 9, 2014 federal indictment, US v. Robert Bandfield, the first time a Foreign Account Tax Compliance Act (FATCA) violation has been charged as an “overt act” in furtherance of a tax conspiracy and securities fraud. Design/methodology/approach – Provides background, including the enactment of FATCA and the details of the indictment; describes an undercover investigation conducted by President Obama’s Financial Fraud Enforcement Task Force; and discusses the warnings this indictment sends to the global financial community. Findings – The indictment confirms the coordinated and aggressive tactics US law enforcement is now employing to investigate and prosecute offshore financial fraud. Practical implications – Banks and financial service providers need to be aware of the impact of enhanced US regulatory obligations and implement appropriate compliance measures. These institutions must also remain sensitive to risks presented by unscrupulous customers. Finally, they must be ready to manage appropriately information-gathering and investigatory inquiries originating with US authorities. Originality/value – Practical guidance from experienced tax controversy lawyers.

Money laundering – the gold method

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Fabian Maximilian Johannes Teichmann ◽  
Marie-Christin Falker
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
Law Enforcement Agencies ◽  
Effective Prevention ◽  
Content Type ◽  
Profound Knowledge ◽  
Compliance Officers ◽  
German Speaking ◽  
Practical Implications ◽  
Broad Overview

Purpose The purpose of this paper is to demonstrate how illicit funds are laundered by using the gold method in German-speaking European countries. Design/methodology/approach To identify approaches to money laundering via gold, 60 semi-standardized interviews with money launderers and compliance officers were conducted. Further, a quantitative survey of 200 compliance officers was administered. Findings The gold trade in European German-speaking countries remains extraordinarily suitable for money laundering. In particular, it may be used for placement and layering. Research limitations/implications The implications are based on the statements of 60 interviewees, including both money launderers and compliance officers. Thus, the derived results are limited to the perspectives of these 60 persons. Practical implications Based on this study’s findings, gaps in the existing anti-money laundering measures are identified. Documenting these inconsistencies should provide compliance officers, law enforcement agencies and legislators with valuable insights into the minds of money launderers. Originality/value As this study explores the perspectives of both compliance officers and money launderers, it provides a broad overview of the issues. Most existing literature fails to observe money laundering from the launderers’ perspective, focusing instead on methods to prevent money laundering. Effective prevention requires profound knowledge of how criminals operate. Only by adopting criminals’ perspective can compliance officers effectively spot money-laundering methods.

Family-, Media-, and School-Related Risk Factors of Video Game Addiction

2013 ◽  
Vol 25 (3) ◽  
pp. 118-128 ◽  
Author(s):  
Florian Rehbein ◽  
Dirk Baier
Keyword(s):  
Risk Factors ◽  
Video Game ◽  
Age Groups ◽  
Well Being ◽  
Epidemiological Studies ◽  
Prevention Measures ◽  
School Life ◽  
Video Game Addiction ◽  
Effective Prevention ◽  
Game Addiction

In recent years, a variety of epidemiological studies have provided empirical data on the prevalence of video game addiction (GA) in different age groups. However, few studies investigated the causes of GA and could explain why video game playing as a widespread phenomenon leads to a comparatively small percentage of addicted players. Additionally, the existing longitudinal studies mainly consider psychological trait variables and neglect the possible explanatory value of predictors in socialization regarding media availability, media use, and family and everyday school life. In this paper, the results of a two-wave longitudinal study comprising a sample of students from Grades 4 to 9 (N = 406) are presented. The data show that 15-year-old video game addicts had already exhibited a number of specific risk factors at the age of 10. Students from single-parent families seem to be particularly at risk, as are students with low experienced school well-being and with a weaker social integration in class. The data also indicate that problematic use of video games in childhood increases the risk of GA in adolescence. Male students are especially vulnerable for developing GA. The results of this study are an important contribution to understanding risk factors for GA in adolescents, thereby laying the groundwork for effective prevention measures.

Money laundering through raw diamonds

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Fabian Maximilian Johannes Teichmann ◽  
Marie-Christin Falker
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
Qualitative Content Analysis ◽  
Law Enforcement Agencies ◽  
Content Type ◽  
Compliance Officers ◽  
German Speaking ◽  
Three Stages ◽  
Practical Implications ◽  
Combat Money Laundering

Purpose This paper aims to illustrate how illegally obtained funds are laundered through raw diamonds in Austria, Germany, Liechtenstein and Switzerland. Design/methodology/approach To identify specific money laundering techniques involving raw diamonds, this study used a qualitative content analysis of data collected from 60 semi-standardized interviews with both criminals and prevention experts and a quantitative survey of 200 compliance officers. Findings Raw diamonds are extraordinarily suitable for money laundering in European German-speaking countries. In particular, they may be used in all three stages of the laundering process, namely, placement, layering and integration. Research limitations/implications Because the qualitative findings are based on semi-standardized interviews, their insights are limited to the perspectives of the 60 interviewees. Practical implications Identifying gaps in existing anti-money laundering mechanisms should provide compliance officers, law enforcement agencies and legislators with valuable insights into how criminals operate. Originality/value While prior studies focus on the methods used by organizations to combat money laundering and how to improve anti-money laundering measures, this paper investigates how money launderers operate to avoid detection, thereby illustrating authentic experiences. Its findings provide valuable insights into the minds of money launderers and combines criminal perspective with that of prevention experts.

Ethical consumers' brand avoidance

2014 ◽  
Vol 23 (2) ◽  
pp. 114-120 ◽  
Author(s):  
Anne Rindell ◽  
Tore Strandvik ◽  
Kristoffer Wilén
Keyword(s):  
Design Methodology ◽  
Well Being ◽  
Two Dimensions ◽  
Qualitative Approach ◽  
Specific Group ◽  
Content Type ◽  
Ethical Concerns ◽  
Ethical Consumers ◽  
Consumer Values ◽  
Practical Implications

Purpose – The purpose of this paper is to explore ethical consumers' brand avoidance. The study contributes to brand-avoidance research by exploring what role consumers' ethical concerns play in their brand avoidance. Design/methodology/approach – A qualitative approach is adopted by interviewing 15 active members of organizations that represent ethical concerns for the well-being of animals, the environment and humans. Findings – The study indicates that consumers with a strong value-based perspective on consumption (such as ethical consumers) may reject brands in two different but interrelated ways. In essence, the study reveals characteristics of brand avoidance that have not been discussed in earlier research, in terms of two dimensions: persistency (persistent vs temporary) and explicitness (explicit vs latent). Practical implications – The study shows the importance of considering the phenomenon of brand avoidance, as it may reveal fundamental challenges in the market. These challenges may relate to consumer values that have not been regarded as important or that have been thought of as relating only to a specific group of consumers. Originality/value – The ethical consumers' views represent new insights into understanding brand avoidance.

An exploratory study into organizational repatriates’ emotional support network

2017 ◽  
Vol 24 (4) ◽  
pp. 645-668 ◽  
Author(s):  
Lore Van Gorp ◽  
Smaranda Boroş ◽  
Piet Bracke ◽  
Peter A.J. Stevens
Keyword(s):  
Emotional Support ◽  
Personal Experience ◽  
Well Being ◽  
Support Network ◽  
Support Providers ◽  
Research Attention ◽  
Content Type ◽  
Informative Characteristic ◽  
Depth Interviews ◽  
Practical Implications

Purpose The purpose of this paper is to examine how repatriates’ emotional support network affects their experience of re-entry. Design/methodology/approach This inductive, qualitative study is based on 27 semi-structured, in-depth interviews with Belgian organizational repatriates. Findings The analyses suggest that expatriation empathy is a key attribute of organizational repatriates’ main emotional support providers. In addition, the results show that although partners are a main source of emotional support on re-entry, they are also important potential causes of distress. Lastly, the results suggest that the cultural diversity of a repatriate’s emotional support network is linked with characteristics of the assignment and that it affects the experience of repatriation. Research limitations/implications The results provide empirical evidence that the expatriation empathy of repatriates’ support providers is a more informative characteristic to consider compared with whether they have personal experience of expatriation. In addition, the results suggest that research should also take into account the negative side of social support, and, for example, consider the influence of crossover distress of partners who experience relocation difficulties themselves. Practical implications This study points to the possible benefits of organizing social activities or training for repatriates and their partner and any children, as well as the advantages of encouraging expatriates to invite home-country friends to visit. Originality/value Although most scholars agree on the importance of support for expatriates’ well-being, the sources of relevant emotional support have received little research attention so far, as has how this influences the repatriation experience.

When I am old I shall wear purple: a qualitative study of the effect of group poetry sessions on the well-being of older adults

2016 ◽  
Vol 20 (4) ◽  
pp. 195-198 ◽  
Author(s):  
Richard Seymour ◽  
Michael Murray
Keyword(s):  
Older People ◽  
Assisted Living ◽  
Well Being ◽  
Content Type ◽  
Short Period ◽  
Different Types ◽  
Poetry Reading ◽  
The Impact ◽  
Health And Well Being ◽  
Practical Implications

Purpose There is increasing evidence that participation in various art forms can be beneficial for health and well-being. The purpose of this paper is to examine the impact of participating in a poetry reading group on a group of older residents of an assisted living facility. Design/methodology/approach Six poetry sessions, each on a different theme, were conducted with a group of volunteer participants. These sessions, those of pre- and post-study focus groups and interviews with the group facilitator and staff contact were audio-recorded. The transcripts of the recordings were then subjected to a thematic analysis. Findings Overall the participants were enthused by the opportunity to participate in the project and the benefits were confirmed by the support staff. In addition, reading poetry on particular themes promoted different types of discussion. Research limitations/implications The number of participants in this study was small and the study was conducted over a short period of time. Practical implications This paper confirms the impact of poetry reading for older people. The challenge is to explore this impact in more detail and over community as well as residential settings. Originality/value This paper is the first empirical report on the value of poetry reading for older people.

Perceived stress and psychological well-being of working mothers during COVID-19: a mediated moderated roles of teleworking and resilience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vartika Kapoor ◽  
Jaya Yadav ◽  
Lata Bajpai ◽  
Shalini Srivastava
Keyword(s):  
Perceived Stress ◽  
Working Mothers ◽  
Well Being ◽  
Inverse Association ◽  
Psychological Well Being ◽  
Content Type ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

PurposeThe present study examines the mediating role of teleworking and the moderating role of resilience in explaining the relationship between perceived stress and psychological well-being of working mothers in India. Conservation of resource theory (COR) is taken to support the present study.Design/methodology/approachThe data of 326 respondents has been collected from working mothers in various sectors of Delhi NCR region of India. Confirmatory factor analysis was used for construct validity, and SPSS Macro Process (Hayes) was used for testing the hypotheses.FindingsThe results of the study found an inverse association between perceived stress and psychological well-being. Teleworking acted as a partial mediator and resilience proved to be a significant moderator for teleworking-well-being relationship.Research limitations/implicationsThe study is based at Delhi NCR of India, and future studies may be based on a diverse population within the country to generalize the findings in different cultural and industrial contexts. The present work is based only on the psychological well-being of the working mothers, it can be extended to study the organizational stress for both the genders and other demographic variables.Practical implicationsThe study extends the research on perceived stress and teleworking by empirically testing the association between perceived stress and psychological well-being in the presence of teleworking as a mediating variable. The findings suggest some practical implications for HR managers and OD Practitioners. The organizations must develop a plan to support working mothers by providing flexible working hours and arranging online stress management programs for them.Originality/valueAlthough teleworking is studied previously, there is a scarcity of research examining the impact of teleworking on psychological well-being of working mothers in Asian context. It would help in understanding the process that how teleworking has been stressful for working mothers and also deliberate the role of resilience in the relationship between teleworking and psychological well-being due to perceived stress, as it seems a ray of hope in new normal work situations.

Imperfect produce: retailer actions and service outcomes

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Atmadeep Mukherjee ◽  
Amaradri Mukherjee ◽  
Pramod Iyer
Keyword(s):  
Purchase Intention ◽  
Design Methodology ◽  
Well Being ◽  
Societal Implications ◽  
Negative Effects ◽  
Content Type ◽  
Service Outcomes ◽  
Patronage Intention ◽  
Practical Implications

Purpose Food waste is a big problem where millions of pounds of produce are discarded every year because they are imperfect or unattractive. Despite the societal implications of selling unattractive produce, limited research has been directed toward understanding the effect of imperfect produce on consumers’ evaluations of the produce and retailer outcomes. This paper aims to investigate why consumers tend to discard imperfect produce and how retailer interventions (i.e. anthropomorphized signage and packaging) can alleviate these negative effects. Design/methodology/approach Three experiments were conducted to examine the postulations. Study 1 highlights the role of consumers’ embarrassment in the purchase decision of imperfect produce and retailer patronage intention. Studies 2 and 3 provide managerially relevant boundary conditions of anthropomorphic signage and opaque packaging. Findings Convergent results across three studies (n = 882) indicate that imperfect produce increases purchase embarrassment and reduces purchase intention and retailer patronage intention. Retailer interventions (i.e. anthropomorphic signage and opaque packaging) can allay this feeling of embarrassment and lead to an increased retailer patronage intention and higher service satisfaction. Practical implications This research provides guidance to retailers for effectively promoting imperfect produce. Social implications Retailers’ actions can benefit the well-being of farmers, suppliers, customers and the overall environment. Originality/value This research adds to the literature on unattractive produce by identifying new moderators, namely, anthropomorphic signages and opaque packaging. The research also shows that purchase embarrassment is a key process mechanism.

Career satisfaction antecedents of professional accounting returnees in international workplaces: an employee experience perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nga Thi Thuy Ho ◽  
Hung Trong Hoang ◽  
Pi-Shen Seet ◽  
Janice Jones ◽  
Nhat Tan Pham
Keyword(s):  
Design Methodology ◽  
Career Satisfaction ◽  
Home Country ◽  
Well Being ◽  
Cross Cultural ◽  
Cultural Work ◽  
Content Type ◽  
Different Types ◽  
Employee Experience ◽  
Practical Implications

PurposeThe purpose of this study is to examine the determinants of career satisfaction of professional accounting returnees who have studied and/or worked abroad and then returned to work in different types of international workplaces in their home country.Design/methodology/approachA survey of professional accounting returnees in Vietnam was undertaken and multiple regression analysis was applied to test the proposed relationships.FindingsThis study finds that career satisfaction is affected by career fit, career sacrifice, types of international workplaces (domestically headquartered firms versus globally headquartered firms) and cross-cultural work readjustment. Further, cross-cultural work readjustment partially mediates the effect of career fit and career sacrifice on career satisfaction.Practical implicationsThe research provides the basis for designing career-related employee experiences to support career satisfaction of professional accounting returnees.Originality/valueThis study integrates dimensions of career embeddedness with cross-cultural work readjustment and employee experiences, which are normally studied separately, in different types of international workplaces. It contributes to the limited research on contributors to well-being in the form of career satisfaction among professional returnees in an emerging economy.

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