Journal of Economic Criminology最新文献

{"title":"A data-driven approach to measure money laundering risk and its relationship with corruption","authors":"Michele Riccardi","doi":"10.1016/j.jeconc.2025.100184","DOIUrl":"10.1016/j.jeconc.2025.100184","url":null,"abstract":"<div><div>The issue of how the money laundering (ML) risk of countries is measured is not a merely technical problem. It has a strong impact on countries’ development, in particular of the Global South. First, because official anti-money laundering (AML) blacklists and grey lists, which frequently include developing and small countries, are heavily questioned in terms of their capacity to represent actual ML risk. Second, because a proper measurement of ML risk would allow to better appreciate the relationship between ML and other crimes, in particular corruption, which represent key threats for most of the Global South and the developing world. This paper addresses this issue by proposing a methodology which, based on a data-driven approach, can be employed to assess the actual risk of ML at country level, and to analyse its relationship with transnational corruption. In particular it proposes a composite indicator of ML risk based on the inputs from previous economic, sociological and criminological literature. These refer to key <em>threats</em> and <em>vulnerabilities</em> and are operationalised into one or more measurable proxy variables. The paper then validates the indicator by applying it to selected countries, and by comparing it with (a) observed evidence of ML and (b) measures of corruption and corruption <em>exposure</em>. Results show a strong correlation between the new risk indicator and observed evidence of ML, but no correlation with corruption levels. However, countries at high risk of ML appear to be more exposed to investors and beneficial owners from countries at higher level of corruption, suggesting they can also attract corruption money. Negative correlation with official AML blacklists is observed: surprisingly, listed countries show lower ML risk on average. The work may help to revisit the current AML blacklisting process, and minimise its unintended consequences such as <em>de-risking</em> on smaller countries and Global South as a whole.</div></div>","PeriodicalId":100775,"journal":{"name":"Journal of Economic Criminology","volume":"10 ","pages":"Article 100184"},"PeriodicalIF":0.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145005440","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Criminological and socioeconomic aspects of corporate delinquency: A 21st century perspective","authors":"Partheeswaran Parameswaran ,&nbsp;Mohammed Shahzad Shafi","doi":"10.1016/j.jeconc.2025.100185","DOIUrl":"10.1016/j.jeconc.2025.100185","url":null,"abstract":"<div><div>This study examines the growing concern of corporate delinquency in securities markets through an interdisciplinary approach, incorporating insights from sociological jurisprudence, criminology, and economic principles. Deploying a qualitative methodology, the research involves a comparative analysis of landmark case studies such as Enron, Wirecard, and Yes Bank, along with existing legal frameworks to identify systemic weaknesses in corporate governance and regulatory enforcement. The authors discuss theories like the Fraud Triangle, General Strain Theory, and Locke’s social contract theory <em>inter alia</em>, delving into the psychological and sociological factors driving white-collar crimes. The findings reveal significant gaps in accountability mechanisms, which facilitate corporate delinquency that erode societal trust in capitalism and economic stability. The authors advocate for the integration of stronger regulatory mechanisms and incorporation of technology such as blockchain, to bolster investor confidence and mitigate the socio-economic impact of corporate crimes. By following a multidisciplinary framework, the research contributes to the evolving discourse on economic criminology and corporate governance.</div></div>","PeriodicalId":100775,"journal":{"name":"Journal of Economic Criminology","volume":"9 ","pages":"Article 100185"},"PeriodicalIF":0.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144931757","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"“The view from below”: Resistance and change in Authorised Push Payment Fraud","authors":"Jane Ngan","doi":"10.1016/j.jeconc.2025.100166","DOIUrl":"10.1016/j.jeconc.2025.100166","url":null,"abstract":"<div><div>Discourses on Authorised Push Payment fraud (“APPF”), through which a victim is deceived into authorising fund transfers to a fraudster, often converged on normative questions of victim negligence and liability. Recent regulatory changes in the UK, which introduced a new mandatory reimbursement scheme for APPF victims and greater transparency in anti-fraud performance by financial institutions, marked a perceptive shift in the responsibility for fraud prevention and detection. These developments marked the latest flashpoint in the long simmering tension between economic imperatives, technology development and crime control. This study critically retraces the emergence of APPF in the UK within a broader socio-economic arc, during which competitive pressures from online commerce motivated the development of instantaneous payment settlement technology, despite known fraud risks. At the same time, as the state progressively devolved anti-fraud responsibilities to the private sector, an onward liability shift to the individual followed, under the guise of “consumer education”. Through the evaluation of documentary records, parliamentary committee inquiries, victims’ testimonies and interviews conducted by the author, the study highlights the dominance of a new form of rationality anchored on individual responsibility for fraud detection. It mobilises Habermasian discourse ethics to analyse speech acts from institutional actors “above”, and those from victims’ experiences “below”, revealing the contradictions between bureaucratic obfuscation of structural failings and painful accounts of personal loss. It is contended that personal testimonies resisted abstraction, and demanded recognition of shared precarity and mutual interdependence upon which social life depends.</div></div>","PeriodicalId":100775,"journal":{"name":"Journal of Economic Criminology","volume":"9 ","pages":"Article 100166"},"PeriodicalIF":0.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144147498","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Understanding accredited investors in cryptocurrency markets: A comprehensive analysis","authors":"Lana Stern","doi":"10.1016/j.jeconc.2025.100187","DOIUrl":"10.1016/j.jeconc.2025.100187","url":null,"abstract":"<div><div>Accreditation has historically played a central role in securities regulation, seeking to balance investor protection, market access, and capital formation. Traditionally, regulatory frameworks have relied on wealth or income thresholds as proxies for investor sophistication, premised on the assumption that individuals with greater financial resources are better equipped to manage risk and obtain professional advice. However, in rapidly evolving crypto-asset markets, these wealth-based criteria have become increasingly misaligned with market realities. Such thresholds frequently exclude technically proficient but less affluent participants, thereby perpetuating inequality and conflicting with the inclusive ethos of digital finance. Moreover, these criteria have failed to prevent significant losses among wealthy accredited investors, as evidenced by the collapses of Terra-Luna, Three Arrows Capital, and FTX. Competence-based frameworks are still underdeveloped, unevenly applied, and can become overly formal, while traditional disclosure rules do not fully address the technical and behavioral challenges of decentralized finance. This article takes a critical look at accreditation in crypto-asset markets, drawing on legal, empirical, and normative analysis. By comparing the United States, European Union, Singapore, and Russia, and examining cases like the ICO boom, Singapore’s regulatory sandboxes, and the Terra-Luna and FTX collapses, the article shows that wealth-based accreditation falls short in fairness and effectiveness. It proposes a hybrid approach that combines competence assessments, crypto-specific disclosure, prudential safeguards, regulatory sandboxes, and international cooperation. This article contends that reforming accreditation constitutes a fundamental transformation in the approach to investor protection, advancing principles of fairness, legitimacy, and systemic robustness. By introducing a hybrid framework grounded in fairness and empirical evidence, the article contributes to policy discourse and informs scholarly understanding of the evolution of financial regulation in the context of digital innovation.</div></div>","PeriodicalId":100775,"journal":{"name":"Journal of Economic Criminology","volume":"9 ","pages":"Article 100187"},"PeriodicalIF":0.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144916841","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Criminological perspectives on pyramid schemes: Applying routine activity theory in the Sri Lankan context","authors":"N.D.D.N. Weerasinghe","doi":"10.1016/j.jeconc.2025.100176","DOIUrl":"10.1016/j.jeconc.2025.100176","url":null,"abstract":"<div><div>Pyramid schemes are fraudulent business concepts that entice people with promises of big profits through recruiting rather than actual product sales or services. Pyramid schemes, despite being illegal, have grown in popularity around the world, including in Sri Lanka. Accordingly, the Central Bank of Sri Lanka (CBSL) issued a red notice to the public on 24 August 2023, banning nine pyramid schemes in Sri Lanka (Pathirana, 2023). In a pyramid firm, the majority of the top-tier individuals have amassed an incredible wealth of riches while draining the money of the public in the lower-level tiers. This study uses Routine Activity Theory (RAT), a criminological paradigm, to investigate how pyramid scams thrive in Sri Lanka while victimizing the people. The study investigates how the confluence of motivated criminals, appropriate targets, and a lack of effective guardians promotes the spread of pyramid schemes in the country. This study uses a qualitative research design to explore the role of Routine Activity Theory in understanding the proliferation of pyramid schemes in Sri Lanka. Interviews with victims of pyramid schemes, law enforcement officials were conducted. Additionally, a survey targeting individuals who had been approached by pyramid scheme recruiters was administered. The sample size for the interviews consisted of 50 participants from diverse socio-economic backgrounds. Participants were selected through a purposive sampling method. This study also seeks to offer light on preventative actions and regulations that can reduce the hazards associated with such schemes. The study proposes to maximize the legal framework and efficient regulatory supervision. And, should increase public awareness and ongoing surveillance and adjustment.</div></div>","PeriodicalId":100775,"journal":{"name":"Journal of Economic Criminology","volume":"9 ","pages":"Article 100176"},"PeriodicalIF":0.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144491252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Patterns and predictors of cyber fraud victimization: Testing routine activity theory and general theory of crime in Japan","authors":"Ai Suzuki ,&nbsp;Ko Shikata ,&nbsp;Takahito Shimada","doi":"10.1016/j.jeconc.2025.100186","DOIUrl":"10.1016/j.jeconc.2025.100186","url":null,"abstract":"<div><div>Although previous research on the predictors of cyber fraud victimization has provided evidence of the impact of routine activity and low self-control on the risk of cyber fraud victimization, little knowledge is available in Japan. In addition, to the best of our knowledge, no study has yet explored how victims change their risky online behaviors after victimization. Using data from a nationwide survey of cyber fraud victimization, this study aims to determine whether the characteristics of victims of cyber fraud in other advanced nations are applicable to Japan, with a special focus on those explained by routine activity theory and general theory of crime, and how the subsequent behavior of victims changed after victimization. The results of the ordinary least squares regression analyses demonstrate the applicability of routine activity theory and general theory of crime in explaining the predictors of cyber fraud victimization in Japan. Importantly, this study indicates that only a few victims of cyber fraud changed their behavior after victimization.</div></div>","PeriodicalId":100775,"journal":{"name":"Journal of Economic Criminology","volume":"9 ","pages":"Article 100186"},"PeriodicalIF":0.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144912193","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Novel mitigators of hedge fund managers' fraud","authors":"Majed R. Muhtaseb","doi":"10.1016/j.jeconc.2025.100180","DOIUrl":"10.1016/j.jeconc.2025.100180","url":null,"abstract":"<div><div>This article aims to contribute to the limited pool of solutions designed to deter or mitigate hedge fund manager fraud and reduce the associated costs to investors and other hedge fund industry stakeholders. The methodology involves presenting three hedge fund indsutry fraud cases, focusing on their final legal outcomes and the key lessons learned. These cases illustrate how investors and industry stakeholders often suffer significant financial and reputational losses.</div><div>Drawing from these cases, the article identifies several less conventional but potentially effective mitigators of manager fraud, including: Conducting ongoing, intrusive (as opposed to standard cursory) due diligence on hedge funds; Expanding due diligence to include an examination of the hedge fund's relationships with its vendors; Collaborating with the insurance industry to develop fraud-specific hedge fund insurance policies; Investing through separate managed accounts, allowing investors direct ownership of the underlying securities; Investing in hedge funds whose vendors are large, reputable, and financially strong; and Promoting the development and application of industry-wide best practices for conducting due diligence and communication.</div></div>","PeriodicalId":100775,"journal":{"name":"Journal of Economic Criminology","volume":"9 ","pages":"Article 100180"},"PeriodicalIF":0.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144826962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Scripting the evasions of sanctions: A case analysis of the circumvention of sanctions on the supply of goods to Russia from the Netherlands","authors":"Victor Daniël van Santvoord ,&nbsp;Nina Visser","doi":"10.1016/j.jeconc.2025.100177","DOIUrl":"10.1016/j.jeconc.2025.100177","url":null,"abstract":"<div><div>This case analysis uses a crime script to understand the circumvention of sanctions on the supply of goods from the Netherlands to Russia. By analysing three court cases, news articles and five interviews with law enforcement officers, a crime script is created. Based on this crime script, different techniques of prevention are proposed. The case analysis shows a nexus between corporate, organised and state crime. The article serves as a call for more rigorous research into the circumvention of sanctions.</div></div>","PeriodicalId":100775,"journal":{"name":"Journal of Economic Criminology","volume":"9 ","pages":"Article 100177"},"PeriodicalIF":0.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144308007","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Examining the exploitation of vulnerable migrant populations and interventions to combat human trafficking and modern-day slavery within the illegal UK cannabis cultivation industry","authors":"Holly Necchi,&nbsp;Tracy Bradford","doi":"10.1016/j.jeconc.2025.100175","DOIUrl":"10.1016/j.jeconc.2025.100175","url":null,"abstract":"<div><div>The illegal cultivation of cannabis in the UK is a serious problem that can involve the exploitation of vulnerable migrant populations who are trafficked to work as cannabis growers under conditions of debt bondage and modern slavery. Although there is much public interest in modern slavery and human trafficking (MSHT), the prominent focus is on child criminal exploitation and sexual exploitation. The lived experiences and perspectives of cannabis growers and the trauma these victims endure, as well as the methods of control and coercion used by the perpetrators, is under-researched. By scoping the existing literature, the following issues are explored: The vulnerability of migrants is shaped by multiple factors, such as poverty, inequality, and lack of legal status. The perpetrators use various methods of control and coercion, such as deception, threats, violence, and debt manipulation. The victims suffer from physical and psychological trauma, such as injuries, illnesses, anxiety, depression, and fear. Finally, there is evidence that protective legislation and the actions of the criminal justice system in some MSHT cases are inadequate, resulting in the criminalisation of cannabis growers, rather than on their protection and support as victims of human rights violations. The findings suggest a significant need for improving the identification, referral, and protection of cannabis growers who are victims of MSHT. This requires addressing the research gaps identified in this review, enhancing the training and understanding of MSHT and non-punishment provisions amongst criminal justice workers, and adopting a holistic approach to victim support.</div></div>","PeriodicalId":100775,"journal":{"name":"Journal of Economic Criminology","volume":"9 ","pages":"Article 100175"},"PeriodicalIF":0.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144588211","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Integrating criminological theories in accounting and finance fraud research: A systematic literature review","authors":"Sana Ramzan ,&nbsp;Mark Lokanan","doi":"10.1016/j.jeconc.2025.100179","DOIUrl":"10.1016/j.jeconc.2025.100179","url":null,"abstract":"<div><div>Fraud in accounting and finance poses a persistent threat to organizational integrity and economic stability, necessitating robust theoretical frameworks for effective detection and prevention. While traditional accounting literature predominantly addresses fraud through objective and quantitative lenses, this study argues for the integration of criminological theories to enhance the understanding of fraudulent behaviors. This systematic literature review examines the application of micro, macro, and integrated criminological theories within accounting and finance fraud research, synthesizing insights from 14 peer-reviewed studies using the Australian Business Deans Council (ABDC) list for filtering identified through a comprehensive search of the Scopus database. The review highlights the contributions of micro-level theories, such as Merton’s Strain Theory and Sutherland’s Differential Association Theory, in explaining individual motivations for fraud. It also explores macro-level frameworks, including Institutional Theory and Ecological Theory, which provide a broader perspective on societal and organizational influences. Integrated theories, such as Situational Action Theory and Routine Activity Theory, offer a holistic approach by linking individual predispositions with contextual factors. The findings reveal a critical gap between theoretical constructs and their practical application in accounting practices, particularly in audit procedures, compliance systems, and internal controls. This study calls for future research to bridge this gap by developing empirically validated frameworks that translate criminological insights into actionable anti-fraud strategies within corporate environments. By advancing interdisciplinary approaches, this research contributes to both academic discourse and practical methodologies for enhancing fraud risk management in accounting and finance.</div></div>","PeriodicalId":100775,"journal":{"name":"Journal of Economic Criminology","volume":"9 ","pages":"Article 100179"},"PeriodicalIF":0.0,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144605152","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}