White Collar Crime eJournal最新文献

{"title":"White Collar Crime - An Overview","authors":"Shahbaz Akhtar","doi":"10.2139/ssrn.3888894","DOIUrl":"https://doi.org/10.2139/ssrn.3888894","url":null,"abstract":"Ever since Sutherland (1939) coined the term “white-collar crime”, there has been extensive research and debate on what to include and what to exclude from this offense category (e.g., Piquero and Benson 2004; Pontell et al. 2014; Stadler et al. 2013). In accordance with Sutherland’s original work, convenience theory emphasizes the position and trust enjoyed by the offender in an occupational setting (Shapiro 1987). Therefore, the organizational dimension is the core of convenience theory where the offender has access to resources to commit and conceal financial crime.","PeriodicalId":376821,"journal":{"name":"White Collar Crime eJournal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122282687","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":"A Historical Flashback of the Formation and Development of Criminal Liability for the Legalization of Money or Other Property Acquired by Criminal","authors":"D. Ivanov, Dmitry Vanin","doi":"10.2139/ssrn.3850814","DOIUrl":"https://doi.org/10.2139/ssrn.3850814","url":null,"abstract":"The article examines the main stages of the formation of the institution of criminal responsibility for the legalization of money or other property acquired by criminal means, draws attention to the fact that the foundations of responsibility for this crime can be found back in the 15th century. Based on the analysis of pre-revolutionary, Soviet and Russian regulations, a conclusion is drawn about the modern regulation of the institution in question.","PeriodicalId":376821,"journal":{"name":"White Collar Crime eJournal","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114350365","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":"Can Countries Justify the Existence of Insider Trading Laws? An Indian Perspective","authors":"Chandra Lekha B","doi":"10.2139/ssrn.3849367","DOIUrl":"https://doi.org/10.2139/ssrn.3849367","url":null,"abstract":"With market economies quickly evolving, questions on whether insider trading must be legal are fast gaining ground. In this paper, we evaluate whether countries possess well-equipped legislations to justify the illegality of insider trading. For the purpose of research, focus is given to the legislations of the United States and India; while reasoning from an Indian perspective.","PeriodicalId":376821,"journal":{"name":"White Collar Crime eJournal","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121354651","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":"Insider Trading and Strategic Disclosure","authors":"Joshua Mitts","doi":"10.2139/ssrn.3741464","DOIUrl":"https://doi.org/10.2139/ssrn.3741464","url":null,"abstract":"I show that public companies disproportionately disclose positive news on days when corporate executives sell shares under predetermined Rule 10b5-1 plans. I find that the likelihood, share volume and dollar volume of insider sales under 10b5-1 plans are higher when good news is disclosed, and each of these are higher when the disclosed news is better. Disclosure of good news on Rule 10b5-1 selling days is greatest in the health care sector and among mid-cap firms. I show that stock prices reverse after high levels of Rule 10b5-1 selling on positive news days, and that the price reversal increases with the share volume of Rule 10b5-1 selling. I show that, whatever might be said about health care executives’ advantageous stock sales as they developed vaccines during the pandemic of 2020, those sales were not uncommon.","PeriodicalId":376821,"journal":{"name":"White Collar Crime eJournal","volume":"89 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134182609","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":"Securities Scholars’ Comment Letter on Draft Model Whistleblower Award and Protection Act","authors":"A. Baker, Benjamin Edwards, Andrew Jennings, Samantha J. Prince","doi":"10.2139/ssrn.3735186","DOIUrl":"https://doi.org/10.2139/ssrn.3735186","url":null,"abstract":"In May 2020, the North American Securities Administrators Association (NASAA), an organization representing state and provincial securities regulators in Canada, the United States, and Mexico, released a draft Model Whistleblower Award and Protection Act (the Proposed Act) for public comment. The Proposed Act drew from securities-whistleblower statutes in Utah and Indiana, as well as the federal Sarbanes-Oxley and Dodd-Frank Acts. In brief, the Proposed Act provided for a state-level securities whistleblower-award program and an anti-retaliation private right of action. \u0000 \u0000NASAA received seven comment letters, including one from securities scholars. Our securities scholars’ letter highlighted two areas of concern. First, we noted that in Digital Realty Trust, Inc. v. Somers, 138 S. Ct. 767, 778 (2018), the Supreme Court held that the Dodd-Frank Act did not protect from employer retaliation those who blow the whistle only internally. Given that the Proposed Act’s text closely tracked Dodd-Frank’s anti-retaliation provision, we observed that it had the same problem seen in Digital Realty. We urged a revision to close this gap, a change that would give internal securities whistleblowers at least a state retaliation right of action. Second, we urged that the whistleblower-award provision allow for attorney-mediated anonymous reporting. \u0000 \u0000In late August 2020, NASAA released the final version of the act (the Final Act). The Final Act’s Section 10 resolved our Digital Realty concern by extending anti-retaliation protections to those who report only internally. The Final Act’s Section 4 addressed our concern that whistleblowers who submit anonymous reports pre-award should remain eligible for whistleblower awards. A copy of our comment letter follows this introductory note. The Proposed Act is attached as Exhibit A and the Final Act as Exhibit B.","PeriodicalId":376821,"journal":{"name":"White Collar Crime eJournal","volume":"165 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116124243","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":"Laundering the Profits of Ransomware: Money Laundering Methods for Vouchers and Cryptocurrencies","authors":"B. Custers, J. Oerlemans, Ronald Pool","doi":"10.1163/15718174-02802002","DOIUrl":"https://doi.org/10.1163/15718174-02802002","url":null,"abstract":"Ransomware is malicious software (malware) that blocks access to someone’s computer system or files on the system and subsequently demands a ransom to be paid for unlocking the computer or files. Ransomware is considered one of the main threats in cybercrime today. Cryptoware is a specific type of ransomware, which encrypts files on computer systems. The ransom is often demanded in bitcoins. Based on desk research, a series of interviews, and the investigation of several police files, this paper investigates the modi operandi in which cybercriminals use ransomware and cryptoware to make profits and how they launder these profits. Two models, based on the payment of the ransom via vouchers and via bitcoins respectively, are identified and described. These methods allow criminals to launder profits in relative anonymity and prevent the seizure of the illegally obtained money.","PeriodicalId":376821,"journal":{"name":"White Collar Crime eJournal","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121792104","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":"Pre-Trial Proceedings in Cases of Fraud in the Field of Entrepreneurial Activity: Criminal Procedural Violations","authors":"K. Klevtsov","doi":"10.2139/ssrn.3728679","DOIUrl":"https://doi.org/10.2139/ssrn.3728679","url":null,"abstract":"In the article, the author examines a number of criminal procedural errors made by the preliminary investigation or operational-search authorities during the pre-trial proceedings in criminal cases of fraud, as a result of which the author draws the appropriate conclusions of a theoretical and practical nature.","PeriodicalId":376821,"journal":{"name":"White Collar Crime eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122688052","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":"Compliance as the Interaction between Rules and Behavior","authors":"Benjamin van Rooij, D. Sokol","doi":"10.1017/9781108759458.001","DOIUrl":"https://doi.org/10.1017/9781108759458.001","url":null,"abstract":"Compliance has become important in our contemporary markets, societies, and modes of governance across very different public and private domains, stimulating a rich body of empirical work and practical expertise. Yet, so far, we do not have a comprehensive understanding of what compliance is and what mechanisms and interventions play a role in shaping it nor how compliance shapes various fields. Thus far, the academic knowledge of compliance has remained siloed in different disciplinary domains, and along different regulatory and legal spheres and different mechanisms and interventions. This chapter, which is the introduction to the Cambridge Handbook of Compliance, offers a comprehensive view of what compliance is. It takes a broad approach in seeing compliance as the interaction between rules and behavior. It discusses what different mechanisms and interventions are at play in shaping such compliance. And it reflects on the the different methods to study compliance and their inherent limitations.","PeriodicalId":376821,"journal":{"name":"White Collar Crime eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130423335","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":"Explaining Dirks","authors":"Andrew N. Vollmer","doi":"10.2139/ssrn.3561814","DOIUrl":"https://doi.org/10.2139/ssrn.3561814","url":null,"abstract":"The personal benefit element of the tipping violation established in Dirks v. SEC has been misunderstood. Courts, the Securities and Exchange Commission, and criminal prosecutors have broadly construed it to create liability for insiders who received remote, speculative, immaterial, or intangible returns after disclosing confidential company information. Several situations, such as an insider’s gift of confidential information to a relative or friend or an intention to benefit the recipient of the information, do not require the insider to receive anything at all. The drafting history of the majority opinion in Dirks in the papers of its author, Justice Lewis Powell, reveals that the current wide interpretations of personal benefit in tipping cases are not consistent with the test the Court intended. The principal test of personal benefit was to be the insider’s receipt of cash or something of value within a short time. The special fact situations mentioned in Dirks, including a disclosure as a gift or with an intention to benefit, were not independent and sufficient grounds for finding that an insider received a personal benefit. They were situations that often could create an inference of personal benefit. The drafting history and Powell’s previous opinions show that Powell carefully used the word “inference” in the final opinion. He wanted proof of a fact situation to allow but not require a fact finder to conclude a tipper received a personal benefit. He did not intend proof of a fact situation to create a presumption or ultimate liability. Lessons from the drafting history show that the Supreme Court misapplied the gift situation in Salman. They also show that the Second Circuit’s recent Martoma decision misinterpreted the intention-to-benefit language in the fact situations.","PeriodicalId":376821,"journal":{"name":"White Collar Crime eJournal","volume":"120 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124594191","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":"Designing Corporate Leniency Programs","authors":"Miriam H. Baer","doi":"10.1017/9781108759458.025","DOIUrl":"https://doi.org/10.1017/9781108759458.025","url":null,"abstract":"Corporate leniency programs promise putative offenders reduced punishment and fewer regulatory interventions in exchange for the corporation’s credible and authentic commitment to remedy wrongdoing and promptly self-report future violations of law to the requisite authorities. \u0000 \u0000Because these programs have been devised with multiple goals in mind—i.e., deterring wrongdoing and punishing corporate executives, improving corporate cultural norms, and extending the government’s regulatory reach—it is all but impossible to gauge their “success” objectively. We know that corporations invest significant resources in compliance-related activity and that they do so in order to take advantage of the various benefits promised by leniency regimes. We cannot definitively say, however, how valuable this activity has been in reducing either the incidence or severity of harms associated with corporate misconduct. \u0000 \u0000Notwithstanding these blind spots, recent developments in the Department of Justice’s stance towards corporate offenders provides valuable insight on the structural design of a leniency program. Message framing, precision of benefit, and the scope and centralization of the entity that administers a leniency program play important roles in how well the program is received by its intended targets and how long it survives. If the program’s popularity and longevity says something about its success, then these design factors merit closer attention. \u0000 \u0000Using the Department of Justice’s Yates Memo and FCPA Pilot Program as demonstrative examples, this book chapter excavates the framing and design factors that influence a leniency program’s performance. Carrots seemingly work better than sticks; and centralization of authority appears to better facilitate relationships between government enforcers and corporate representatives. \u0000 \u0000But that is not the end of the story. To the outside world, flexible leniency programs can appear clubby, weak and under-effective. The very design elements that generate trust between corporate targets and government enforcers may simultaneously sow credibility problems with the greater public. This conundrum will remain a core issue for policymakers as they continue to implement, shape and tinker with corporate leniency programs.","PeriodicalId":376821,"journal":{"name":"White Collar Crime eJournal","volume":"83 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115741985","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}