Journal of Financial Crime最新文献

{"title":"“Pay back the money” – a paper on criminal and civil asset forfeiture within South Africa and suggestions for reform","authors":"Llewelyn Gray Curlewis","doi":"10.1108/jfc-08-2023-0203","DOIUrl":"https://doi.org/10.1108/jfc-08-2023-0203","url":null,"abstract":"Purpose The purpose of this paper is to bring to light the present civil and criminal asset forfeiture procedures within the South African context and to make suggestions for reform thereof. While there exists and is a need for constant change and reform of the law to ensure that it remains transparent, up-to-date and applicable to all means through which economic crime can be committed, South Africa lacks the necessary resources and attitudes to accomplish this essential goal. Design/methodology/approach The approach used in this paper is purely qualitative using journal articles, textbooks, reports, periodicals, speeches and legislation as its basis. It is through a consolidation of this literature that this paper was formed. Findings While South Africa’s present system of asset forfeiture is producing some impressive results, the process still has vast room for improvement. There are key areas which this paper outlines for reform. However, the probability of improvement is relatively low owing to the levels of corruption, illicit activities and attitudes of mistrust within the South African society at large. Originality/value The concept of asset forfeiture is not new to any international jurisdiction, let alone South Africa itself. However, this paper aims to give insight into the specific South African experience of this procedure and how it can possibly be improved within the specific context.","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"14 36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135350653","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":"On the relationship between corruption and bank lending activity: European evidence","authors":"Fátima Sol Murta, Paulo M. Gama","doi":"10.1108/jfc-10-2022-0253","DOIUrl":"https://doi.org/10.1108/jfc-10-2022-0253","url":null,"abstract":"Purpose This paper aims to study the effect of country-level perceptions of corruption on commercial banks’ lending activity over the importance of loans and the quality of loan portfolios of banks in Europe. Design/methodology/approach The paper uses country-level perceptions of corruption scores from Transparency International, individual bank-specific data from ORBIS and macroeconomic data from the World Bank. The sample is composed of 640 commercial banks in 42 European countries from 2013 to 2019. The authors estimate, by pooled OLS, the relationship between corruption and the importance of loans and the quality of the banks’ loan portfolios. In addition, several robustness tests reinforce the results. Findings The results show that corruption negatively impacts the importance of loans in bank assets and positively impacts the proportion of bad loans. In addition, trade openness increases the weight of loans and the weight of nonperforming loans. Bank size, capital and risk also affect bank lending activity. Finally, European Monetary Union (EMU) membership reinforces the negative (positive) effect on loans (bad loans). Research limitations/implications The results highlight the importance of fighting corruption. Governments, regulators and banks benefit from pursuing transparency-oriented policies to decrease the perception of corruption and foster economic development. Originality/value The literature on the impact of corruption on bank lending activity focuses mainly on high-corruption countries. This paper studies the European case, scarcely investigated in the literature, in the aftermath of two international financial crises and when significant regulatory transformations in banking supervision were instituted in the EMU countries.","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134976238","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 holistic qualitative exploration on the perception of scams, scam techniques and effectiveness of anti-scam campaigns in Malaysia","authors":"Sharon Wilson, Nor Azlili Hassan, Keng Kia Khor, Santhidran Sinnappan, Afi Roshezry Abu Bakar, Soon Aun Tan","doi":"10.1108/jfc-06-2023-0151","DOIUrl":"https://doi.org/10.1108/jfc-06-2023-0151","url":null,"abstract":"Purpose Scams are indeed malicious attempts to influence people and can take many forms, including online scams. With the increasing availability of technology, scammers have more tools at their disposal to create convincing and sophisticated communications that appear to come from legitimate sources, such as emails, text messages or social media posts. These scams can be designed to trick individuals into clicking on malicious links, downloading malware or ransomware or providing sensitive information such as login information, financial information or personal details. Scammers often use social engineering techniques to persuade their targets to take specific actions, such as creating a sense of urgency, offering a reward or prize or posing as a trusted authority. These tactics can be highly effective, particularly if the target is unaware of the warning signs of a scam or is unfamiliar with how to protect themselves from online fraud. This paper aims to explore the extent and nature of this problem and evokes the concern that the general public is vulnerable and susceptible to scams if they are not resilient and aware. This paper also explores why victims fall for online scams and uncovers preventive measures to enable a direction in tacitly strategizing ways to create more impactful and effective awareness campaigns. Design/methodology/approach This study explores these aspects through a holistic qualitative approach. Using in-depth interview techniques with six victims, six non-victims, four law enforcement officers, four scammers and seven stakeholders from various agencies such as banks, telecommunication agencies and the Malaysian Communications and Multimedia Commission involved in combating the issue of scams. Findings The findings generally revealed that participants who were victims of scams felt Malaysians were susceptible to scams, easily fooled and had a nonchalant attitude. Most participants also highlighted that public safety is important for ensuring a high quality of life for citizens that should work closely between the government and non-government agencies, including effective law enforcement and crime prevention strategies. Originality/value The uniqueness of this study is the feedback from scammers themselves and their input towards authority and victims. Overall, the respondents provide their views drawing strength from the ever-changing technological background as well as the susceptibility of security features and vulnerability of human engagement.","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135477620","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 regulation and capital market development in Nigeria: recurring challenges and prospect for solution","authors":"Samuel Ihuoma Nwatu, Edwin Chukwuemeka Arum, Ikechukwu P. Chime","doi":"10.1108/jfc-05-2023-0129","DOIUrl":"https://doi.org/10.1108/jfc-05-2023-0129","url":null,"abstract":"Purpose The purpose of this paper, therefore, is to amplify the imperativeness for a re-oriented regulatory approach that prioritizes constructive engagement with the regulated communities, harnessing the existing pool of savings and retention of market participation. Design/methodology/approach The paper adopts a doctrinal legal research design with data drawn from primary and secondary sources of law. The primary sources include case laws and statutes, and the secondary sources include book chapters, journal articles and other internet-sourced materials. Findings The paper finds that the status quo in Nigeria if left to continue would spell severe economic disaster for Nigeria’s securities administration, but a well-structured realignment of the regulations would boost the country’s securities market effectiveness. Research limitations/implications The research’s conclusions and suggestions might only be applicable to Nigeria’s particular situation with regard to capital market development and securities regulation. Other nations or locations with distinct regulatory systems, market structures and economic situations may not be able to immediately adapt it. When extending the research results outside of the Nigerian environment, caution should be exercised. For regulatory agencies and policymakers, the research offers insightful suggestions. The analysis may pinpoint certain areas where policy changes are required to address reoccurring problems and improve the chances for a healthy capital market. Practical implications For Nigeria’s regulatory frameworks controlling securities to be strengthened, this paper would be crucial. To make sure they are in line with global best practices, this entails examining and revising current laws, rules and standards. A stronger regulatory environment may also result from the implementation of harsher enforcement procedures and consequences for noncompliance. It is also required for creating market infrastructure, fostering market integration and cooperation, facilitating access to capital, monitoring and evaluation. It would also benefit investor education and protection. Social implications Addressing these persistent issues and potential remedies in Nigeria’s capital market development and securities regulation would have various advantageous social effects. These include improved market infrastructure, more financial inclusion, improved investment protection for investors and improved market openness and integrity. Such results will help Nigerian society as a whole by fostering economic expansion, job creation, wealth distribution and general social progress. Originality/value This paper is the original work of the authors and has not been published anywhere nor submitted to another journal for publication.","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135354034","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":"Fathoming fraud: unveiling theories, investigating pathways and combating fraud","authors":"Abinash Mandal, Amilan S.","doi":"10.1108/jfc-06-2023-0153","DOIUrl":"https://doi.org/10.1108/jfc-06-2023-0153","url":null,"abstract":"Purpose Although corporations exert considerable efforts to uphold ethical standards in their business operations, fraud instances persist as an enduring and formidable challenge within organisations, defying their utmost efforts. The presence of fraud poses a substantial and recurring threat to corporations, leading to significant financial losses on an annual basis. This emphasises the crucial need for a comprehensive understanding of the factors contributing to fraudulent activities and the intricate nature of fraud risk factors inherent in business operations. Therefore, this paper aims to enhance the efficacy of fraud detection and prevention measures through critical analysis and refinement of established fraud theories, drawing upon the existing literature on this subject matter. Design/methodology/approach This paper offers a comprehensive qualitative analysis of the existing literature, thoroughly reviewing prominent models that aim to elucidate the underlying motivations behind fraudulent behaviour. Moreover, drawing upon the existing theoretical foundation, this study conceptualises a model that enhances the understanding of the crucial factors contributing to fraudulent behaviour. Findings The study presents new theoretical insights concerning the role of personal integrity in fraudulent decision-making, presenting refined interventions that enhance comprehension of the underlying drivers of fraud occurrences and strategies for prevention. Furthermore, the study reveals a comprehensive three-part approach to improving organisational health through strengthening compliance mechanisms and cultivating an ethical-values-based culture. Originality/value The study introduces a novel conceptual framework, the personal ethic-based fraud motivation model, which offers a deeper understanding of the factors and conditions influencing individuals’ propensity to engage in fraudulent activities. Furthermore, this study presents a three Cs strategy that effectively delineates the influential forces that drive individuals to surmount fraud risks.","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135490869","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":"Money laundering: effectiveness of the corporate social responsibility (CSR) law in the UAE","authors":"Tareq Na′el Al-Tawil","doi":"10.1108/jfc-07-2023-0172","DOIUrl":"https://doi.org/10.1108/jfc-07-2023-0172","url":null,"abstract":"Purpose The purpose of this paper is to examine the extent to which the corporate social responsibility (CSR) law will help combat money laundering in the United Arab Emirates (UAE). Design/methodology/approach The paper will first focus on examining whether money laundering and CSR are compatible. Such an analysis will then inform decisions on whether to include anti-money laundering in CSR disclosure requirements. Findings Key findings from the analysis have shown that the UAE CSR law does not explicitly mention money laundering as part of CSR disclosure requirements. Anti-money laundering (AML) and CSR are compatible and convergence, but money laundering is not yet an integral element of CSR disclosure requirements. Originality/value There are no clear mechanisms or provisions under the UAE CSR law on how money laundering can be included in CSR disclosure requirements, whether voluntary or mandatory. A pressing challenge now is whether the UAE should regulate AML/combatting the financing of terrorism disclosures under the CSR law. The main concern is that such a move could make mandatory disclosure another technical and regulatory requirement that UAE business must comply, which will be inimical to fostering a strong CSR culture.","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135937975","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 effect of economic complexities and green economy on financial statements fraud","authors":"Zainab Ahmadi, Mahdi Salehi, Mahmoud Rahmani","doi":"10.1108/jfc-02-2023-0036","DOIUrl":"https://doi.org/10.1108/jfc-02-2023-0036","url":null,"abstract":"\u0000Purpose\u0000This study aims to address the relationship between economic complexities (EC) and the green economy (GE) with fraud in the listed companies on the Tehran stock exchange. The authors study whether EC and GE increase the detection of financial statement fraud.\u0000\u0000\u0000Design/methodology/approach\u0000The authors used a multiple regression model based on the panel data method and fixed effect model to test hypotheses. The sample includes 1,351 companies listed on the Iranian stock exchange from 2014 to 2021.\u0000\u0000\u0000Findings\u0000The results show a negative and significant relationship between EC and GE with financial statement fraud.\u0000\u0000\u0000Originality/value\u0000Since this research is the first to address the mentioned topic in emerging markets, it provides helpful insights for financial statement users, analysts and legal entities. The study fills the literature gap and promotes knowledge regarding its relevant literature.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46390868","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":"Corruption fight in the Czech Republic: sustainability reports evidence","authors":"Tomáš Kristek","doi":"10.1108/jfc-06-2023-0143","DOIUrl":"https://doi.org/10.1108/jfc-06-2023-0143","url":null,"abstract":"\u0000Purpose\u0000The lack of transparency contributes to the growing corruption problem in various spheres of society. This paper aims to analyse the sustainability report disclosures published by Czech companies in 2021 and registered by the Association of Social Sustainability of the Czech Republic.\u0000\u0000\u0000Design/methodology/approach\u0000Based on three hypotheses, the relationships between the level of disclosed anti-corruption information and selected variables related to the corporate environment are tested using content analysis and the Mann–Whitney test.\u0000\u0000\u0000Findings\u0000This paper reveals that Czech firms provide more information if they operate in a higher-risk environment (energy, materials and financial services) or are state-owned (or with a state ownership stake). It also reveals that companies participating in corporate social responsibility (CSR) initiatives (UN Global Compact and Global Reporting Initiative) increase their credibility and social responsibility with more disclosed information.\u0000\u0000\u0000Research limitations/implications\u0000A limitation of this paper is the smaller number of selected companies matching the chosen criteria. In addition, a certain degree of subjectivity is likely to have manifested in the process of coding the reports and in the use of the content analysis method.\u0000\u0000\u0000Originality/value\u0000The paper contributes to research that addresses the fight against corruption and CSR issues with a specific study in a small, Central European country and provides new empirical data on the anti-corruption fight problem.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47564738","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":"Tackling corruption in the distribution of Covid-19 palliatives and public health facilities in Nigeria: legal insights and strategic blueprint for future emergencies","authors":"O. Olujobi, Tunde Ebenezer Yebisi","doi":"10.1108/jfc-03-2023-0055","DOIUrl":"https://doi.org/10.1108/jfc-03-2023-0055","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to examine the corruption prevalent in the distribution of COVID-19 palliatives during the lockdown and movement restrictions in the country. This study seeks to analyse the current state of corruption in the distribution of COVID-19 palliatives and public health facilities in Nigeria while also providing a legal insight and strategic blueprint to combat corruption. To this end, this study will address the current legal framework for combating corruption and build upon this to formulate a working strategy for tackling corruption in the future.\u0000\u0000\u0000Design/methodology/approach\u0000Using a doctrinal legal research methodology, this study draws upon existing literature, tertiary data sources and information from the Nigeria Centre for Disease Control. The collected data is analysed and compared with current literature to identify key findings. Rent-seeking and utilitarian theories of the law were examined to guide this study. This study offers useful insights into combating corruption. The use of this method is justified, as it enhances the credibility of the findings on the importance of strategies for future emergencies. This legal research approach is consistent with the law and can be easily verified. The empirical aspect of this study involved a survey of multidimensional health-care and economic data set of 36 states in Nigeria plus the Federal Capital Territory on COVID-19 in Nigeria. A survey linearised regression model was estimated to determine the influence of government revenue and public health-care facilities in the control of the virus spread in Nigeria.\u0000\u0000\u0000Findings\u0000This study reveals the need for emphasis on the imperative of combating corruption in the distribution of COVID-19 palliatives and establishing economic resilience through transparent and accountable practices, supported by legal frameworks.\u0000\u0000\u0000Research limitations/implications\u0000Rent-seeking and utilitarian theories of law are evaluated because of their impacts on combating corruption. The limitation of this study is the intricacy of gathering data on COVID-19 palliatives corruption in Nigeria because of secrecy and the absence of reliable data on the subject.\u0000\u0000\u0000Practical implications\u0000Estimating the exact number of stolen palliatives and their fiscal impact on Nigeria's economy proves to be a formidable task because of the covert nature of corruption. This study equips policymakers in Nigeria with a better understanding of the legal challenges posed by corruption in the health care sector and provides an effective strategy to combat it.\u0000\u0000\u0000Social implications\u0000The lack of reliable data on the extent of palliative theft hinders the ability of lawmakers to enact effective legislation and strategies for combating corruption in the distribution of COVID-19 palliatives and addressing future emergencies in Nigeria. The policy implications of this study can assist policymakers in Nigeria and other countries in formulating measures to combat corruption in","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43709020","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":"Impediments during the execution of a search and seizure warrant for digital information by forensic investigators in South Africa","authors":"J. J. Nortje, D. Myburgh","doi":"10.1108/jfc-05-2023-0125","DOIUrl":"https://doi.org/10.1108/jfc-05-2023-0125","url":null,"abstract":"\u0000Purpose\u0000This paper aims to identify impediments, discuss impediments and make recommendations for the impediments during the execution of a search and seizure warrant for digital evidence in South African criminal cases.\u0000\u0000\u0000Design/methodology/approach\u0000The discussion of this article, the second article of two, focuses on a literature review of international and local impediments identified in case law and published research literature and how it is approached in various jurisdictions.\u0000\u0000\u0000Findings\u0000This study found that impediments identified and addressed internationally during the execution of a search and seizure warrant for digital evidence are relevant to South African criminal cases and still need to be addressed during the execution of a search and seizure warrant for digital evidence in South African criminal cases.\u0000\u0000\u0000Research limitations/implications\u0000Although searches and seizures for digital evidence are relevant to civil, regulatory and criminal investigations, this study focuses on the search and seizure for digital evidence in criminal matters with an emphasis on the provisions of the Criminal Procedure Act 51 of 1977 and the Cybercrimes Act 19 of 2020.\u0000\u0000\u0000Originality/value\u0000The originality of this paper lies in the procedures followed during the physical search and seizure of digital information during the execution of search and seizure warrants for digital information in South Africa. If the South African Police Service follows the recommended procedures, it will contribute to the success of the South African Police Service, which would result in the improved quality of investigations and successful prosecution of crime in South Africa.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45508964","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}