Journal of Financial Crime最新文献

{"title":"Financial disclosure manipulation: a virtue ethics perspective","authors":"Christopher J. Demaline","doi":"10.1108/jfc-05-2023-0126","DOIUrl":"https://doi.org/10.1108/jfc-05-2023-0126","url":null,"abstract":"\u0000Purpose\u0000Financial disclosure manipulation is unethical and unlawful because it leads to less transparent reporting and harmful economic decisions based on misleading information. The purpose of this paper is to provide a summary and synthesis of research covering financial disclosure misrepresentation via impression management (IM). Ultimately, this report proposes that virtuous managers may be well-suited to provide transparent, objective disclosure. By extension, virtuous managers may oversee profitable firms and improve capital market efficiency. Suggestions for future research are presented.\u0000\u0000\u0000Design/methodology/approach\u0000This is an academic literature review covering financial disclosure manipulation. The findings are viewed through the lens of Christian virtue ethics (CVE).\u0000\u0000\u0000Findings\u0000IM studies commonly focus on specific methods used to mislead disclosure readers. Antecedent and mitigation strategies are less commonly noted in the research. This paper presents and analyzes IM tools and antecedents. Mitigation approaches are considered through the lens of CVE. This report proposes that virtuous managers may be well-suited to provide transparent, objective disclosure. By extension, virtuous managers may oversee profitable firms and improve capital market efficiency.\u0000\u0000\u0000Originality/value\u0000This present study focuses on the antecedents of IM in financial disclosures and introduces a novel perspective to financial disclosure mitigation – CVE. Financial disclosure authors and readers, researchers, financial regulators and accounting standards setters may be interested in the findings presented in this study.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49285849","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":"Unmasking online fake job group financial scams: a thematic examination of victim exploitation from perspective of financial behavior","authors":"Wahyu Fahrul Ridho","doi":"10.1108/jfc-05-2023-0124","DOIUrl":"https://doi.org/10.1108/jfc-05-2023-0124","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to critically examine a prevalent online scam mechanism, with the aim of understanding its exploitation of behavioral finance principles and group dynamics and propose effective countermeasures.\u0000\u0000\u0000Design/methodology/approach\u0000This study uses a blend of case study and thematic analysis, drawing from behavioral finance, social psychology and criminology, using primary source testimonies of victims to provide a detailed exploration of the scam’s operations.\u0000\u0000\u0000Findings\u0000This research uncovers the strategic use of four key principles: loss aversion, overconfidence, scarcity bias and social proof, within the scam operation. These tendencies are manipulated to induce victims to progressively invest into the fraudulent scheme, even amid growing suspicions.\u0000\u0000\u0000Research limitations/implications\u0000While the research elucidates on the workings of one specific online scam, it is necessary to explore if and how these principles are used in various other online fraudulent schemes, to develop comprehensive countermeasures.\u0000\u0000\u0000Practical implications\u0000The findings underscore the urgent need for enhanced public awareness, stronger corporate responsibility and robust regulatory oversight. There is a call for concerted efforts encompassing public education campaigns, fortified security protocols and strong legal frameworks for preventing such scams.\u0000\u0000\u0000Social implications\u0000The research emphasizes the need for collective action in ensuring a safe online space. This involves the individual user’s prudence, businesses’ proactive education initiatives and stringent legal actions against fraudulent activities.\u0000\u0000\u0000Originality/value\u0000This research offers novel insights into the nuanced manipulation of behavioral finance principles within online scams, based on empirical data from victim testimonials. These findings contribute to the understanding of the psychological mechanisms at play in online scams and are instrumental in formulating effective preventive strategies.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47820963","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 red flag checklist for cryptocurrency Ponzi schemes","authors":"Chris Heyman","doi":"10.1108/jfc-05-2023-0118","DOIUrl":"https://doi.org/10.1108/jfc-05-2023-0118","url":null,"abstract":"\u0000Purpose\u0000This study aims to, firstly, develop a red flag checklist for cryptocurrency Ponzi schemes and, secondly, to test this red flag checklist against publicly available marketing material for Mirror Trading International (MTI). The red flag checklist test seeks to establish if MTI’s marketing material posted on YouTube® (in the form of a live video presentation) exhibits any of the red flags from the checklist.\u0000\u0000\u0000Design/methodology/approach\u0000The study uses a structured literature review and qualitative analysis of red flags for Ponzi and cryptocurrency Ponzi schemes.\u0000\u0000\u0000Findings\u0000A research lacuna was discovered with regard to cryptocurrency Ponzi scheme red flags. By means of a structured literature review, journal papers were identified that listed and discussed Ponzi scheme red flags. The red flags from the identified journal papers were subsequently used in a qualitative analysis. The analyses and syntheses resulted in the development of a red flag checklist for cryptocurrency Ponzi schemes, with five red flag categories, containing 18 associated red flags. The red flag checklist was then tested against MTI’s marketing material (a transcription of a live YouTube presentation). The test resulted in MTI’s marketing material exhibiting 88% of the red flags contained within the checklist.\u0000\u0000\u0000Research limitations/implications\u0000The inherent limitations in the design of using a structured literature review and the lack of research regarding the cryptocurrency Ponzi scheme red flags.\u0000\u0000\u0000Practical implications\u0000The study provides a red flag checklist for cryptocurrency Ponzi schemes. The red flag checklist can be applied to a cryptocurrency investment scheme’s marketing material to establish if it exhibits any of these red flags.\u0000\u0000\u0000Social implications\u0000The red flag checklist can be applied to a cryptocurrency investment scheme’s marketing material to establish if it exhibits any of these red flags.\u0000\u0000\u0000Originality/value\u0000The study provides a red flag checklist for cryptocurrency Ponzi schemes.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48048318","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 financial literacy, financial behaviour and financial stress on awareness of investment scams among retirees","authors":"Eley Suzana Kasim, Noor Rohin Binti Awalludin, N. Zainal, Allezawati Ismail, Nurul Huda Ahmad Shukri","doi":"10.1108/jfc-04-2023-0080","DOIUrl":"https://doi.org/10.1108/jfc-04-2023-0080","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate the effects of financial literacy, financial behaviour and financial stress on awareness of investment scams among retirees.\u0000\u0000\u0000Design/methodology/approach\u0000Using a questionnaire survey, data was distributed to 200 retirees. A total of 53 responses were obtained. The data was subsequently analysed using PLS-SEM version 3 software.\u0000\u0000\u0000Findings\u0000Findings indicated that while financial literacy has a significant influence on awareness, there is no conclusive evidence to support the relationship between financial behaviour and financial stress on awareness. These results highlighted the critical need to strengthen financial literacy among retirees as a prevention mechanism for them to avoid from being scammed.\u0000\u0000\u0000Research limitations/implications\u0000The finding from this study is relevant to regulators and law enforcement agencies to aid potential and actual retirees by educating them on the danger of investment scams.\u0000\u0000\u0000Originality/value\u0000As there are relatively few studies conducted on investment scams specifically among retirees, this study extends the investment scam literature by examining the underlying factors that affect their awareness towards the fraudulent activities.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49668215","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":"What factors are associated with public corruption perception? Evidence from Canada","authors":"J. Asomah, E. Dim, Yiyan Li, Hongming Cheng","doi":"10.1108/jfc-04-2023-0078","DOIUrl":"https://doi.org/10.1108/jfc-04-2023-0078","url":null,"abstract":"\u0000Purpose\u0000Corruption perception is essential to study because it can shape people’s attitudes toward the government. Thus, the purpose of this paper is to address this key question: what factors are associated with a non-expert’s judgment of whether Canada is corrupt?\u0000\u0000\u0000Design/methodology/approach\u0000This study uses the World Value Survey conducted in Canada in October 2020. This survey is based on a nationally representative sample of a cross-section of adult Canadian residents, including Canadian citizens and permanent residents and those who are neither Canadian citizens nor permanent residents.\u0000\u0000\u0000Findings\u0000Based on this study, some conclusions can be made. First, people accessing corruption news from the traditional news media are less likely than those receiving information from the new media to perceive the state (in this case, Canada) as corrupt. Second, people who have less confidence in public institutions are more likely to perceive a country as corrupt. Third, people who participate in electoral and non-electoral forms of political participation are more likely to perceive the state and its public officials as corrupt. Fourth, regardless of which political party is in power, individuals who lean right politically are more likely than those on the left to perceive the state as corrupt. Finally, immigrants are less likely than those born in Canada to perceive the state as corrupt. This work enriches the literature on the substantive understanding of the factors associated with corruption perception.\u0000\u0000\u0000Originality/value\u0000Studies investigating factors associated with public perception of corruption tend to focus on developing countries. The current study contributes to filling this gap in knowledge by examining correlates of corruption perception in Canada. As a result, this study contributes to the literature on factors associated with corruption perception, especially in the developed country context.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43465577","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 and economic growth in Nigeria: dynamic causality and asymmetric relationships","authors":"Ibrahim Abdulhamid Danlami","doi":"10.1108/jfc-05-2023-0122","DOIUrl":"https://doi.org/10.1108/jfc-05-2023-0122","url":null,"abstract":"\u0000Purpose\u0000This study aims to intend to investigate the dynamic causality and asymmetric relationships between corruption and economic growth of Nigeria.\u0000\u0000\u0000Design/methodology/approach\u0000Toda–Yamamoto (TY) Dynamic Causality Test and Non-linear Autoregressive Distributed Lag Model (NARDL) were used for the estimations, for the period 1984–2018.\u0000\u0000\u0000Findings\u0000The result reveals the existence of bidirectional causality between control of corruption and economic growth, Similarly, in both the short run and long run, corruption can affect economic growth and economic growth can as well affects corruption.\u0000\u0000\u0000Research limitations/implications\u0000Findings of the research are limited to Nigeria whose data were used, based on TY causality test and NARDL as the econometrics techniques applied, for a period 1984–2018.\u0000\u0000\u0000Practical implications\u0000For a meaningful progress to be recorded in Nigeria in terms of economic growth, the country must device some means for strengthen the control of corruption.\u0000\u0000\u0000Originality/value\u0000The study was able to prove empirically, the existence of not only causality between corruption and economic growth but also asymmetric effect of corruption on economic growth and that of economic growth on corruption in both the long run and short run, as against the previous studies that are lopsided on the effect of corruption on economic growth only.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44044868","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 scientometric analysis of the structure and trends in corporate fraud research: a 66-year review","authors":"G. Owusu, Theodora Aba Abekah Koomson, G. Donkor","doi":"10.1108/jfc-05-2023-0121","DOIUrl":"https://doi.org/10.1108/jfc-05-2023-0121","url":null,"abstract":"\u0000Purpose\u0000This paper aims to review corporate fraud, as a concept, and the emerging research trends in corporate fraud research from 1957 to 2022 using bibliometric analysis techniques.\u0000\u0000\u0000Design/methodology/approach\u0000A total of 7,750 publications from the Scopus database were first assessed using performance analysis to explore the descriptive nature of the bibliographic data, and subsequently, citation, co-citation, co-occurrence and bibliographic coupling analyses were conducted using the VOSviewer software.\u0000\u0000\u0000Findings\u0000The results indicate there has been increasing growth in fraud research over the years, especially since the global corporate scandals of 2008. Although fraud is a global issue, the results suggest that most extant studies originate from developed economies, with a high level of collaboration amongst scholars in these countries. In addition, the co-occurrence analysis indicates that research into corporate fraud has largely focused on its determinants and corruption. The determinants identified are further clustered in the paper as individual, organizational and national-level factors.\u0000\u0000\u0000Practical implications\u0000The findings should inform practitioners and policymakers of the state of knowledge on corporate fraud which could be useful in developing strategies and policies to mitigate its occurrence.\u0000\u0000\u0000Social implications\u0000The study points to the need for research collaborations among scholars in developing economies to increase investigations into the occurrences of fraud.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is the first study to holistically assess the intellectual structure of corporate fraud studies from its inception and the trends over time.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46169058","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 comparative analysis of the role of gender in the commission of white-collar crimes: a review in Norway, America, Portugal, India and Iran","authors":"Maryam Kamaei, S. Abolhasani, Naghmeh Farhood","doi":"10.1108/jfc-04-2023-0077","DOIUrl":"https://doi.org/10.1108/jfc-04-2023-0077","url":null,"abstract":"\u0000Purpose\u0000The purpose of this research is to analyze the role of gender in the commission of white collar crimes and investigate it in five countries: Norway, Portugal, America, India and Iran.\u0000\u0000\u0000Design/methodology/approach\u0000Descriptive analytical method is used in this article.\u0000\u0000\u0000Findings\u0000A total of five observations were examined about the rank and percentage of women's participation in white-collar crimes, namely, from Norway (rank 3, 7%), USA (rank 26, 5%), Portugal (29th rank, 13%), India (rank 135, 11%) and Iran (rank 143, 5%). As is visually obvious, there seems to be no relationship between the level of gender equality and the percentage of women involved in white-collar crimes. However, according to Hobbs, in most research, the issue of gender and its effect on the occurrence of white-collar crimes have not been addressed, but by using the limited statistics and limited information available, it can be concluded that a small number of women have committed this crime. According to global crime reports, only 15 out of 200 prosecutions for white-collar crimes involve women.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this article is original and has been submitted only to this journal and has not been submitted to another journal at the same time.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49333942","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":"Bibliometric analysis of cybercrime and cybersecurity risks literature","authors":"Haitham Nobanee, A. Alodat, Reem Bajodah, Maryam Al-Ali, Alyazia Al Darmaki","doi":"10.1108/jfc-11-2022-0287","DOIUrl":"https://doi.org/10.1108/jfc-11-2022-0287","url":null,"abstract":"\u0000Purpose\u0000This study aims to assess the research developments and works pertaining to cybersecurity risks.\u0000\u0000\u0000Design/methodology/approach\u0000A bibliometric analysis of 749 studies on cybersecurity risks published between 1999 and 2021 was conducted using Scopus and the VOSviewer software.\u0000\u0000\u0000Findings\u0000This study reveals various findings, including the most influential authors and the top countries, journals, papers, funding institutions and affiliations publishing research on cybersecurity risks. The bibliometric analysis shows that the existing studies have affected the knowledge of the consequences of cybersecurity risks. However, some research gaps still exist in this field.\u0000\u0000\u0000Originality/value\u0000This study’s contribution is that it presents a comprehensive evaluation of the research on cybercrime and cybersecurity risks. Moreover, to the best of the authors’ knowledge, bibliometric analysis has not been conducted on cybersecurity risks. This study’s findings are likely to prove useful to practitioners and academics in mitigating the consequences of cybercrime and cybersecurity risks.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42532479","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 corruption-foreign direct investment nexus in sub-Saharan Africa. Fresh evidence from a panel threshold regression approach","authors":"J. K. Amoh, Abdallah Abdul-Mumuni, Randolph Nsor-Ambala, Elvis Aaron Amenyitor","doi":"10.1108/jfc-05-2023-0119","DOIUrl":"https://doi.org/10.1108/jfc-05-2023-0119","url":null,"abstract":"\u0000Purpose\u0000Most emerging economies have made conscious efforts through policy initiatives to attract foreign direct investment (FDI). However, a significant obstacle to FDI inflow has been the prevalence of corruption in the host country. This study, therefore, aims to examine whether there is an optimum corruption value that results in threshold effects of corruption on FDI.\u0000\u0000\u0000Design/methodology/approach\u0000To achieve this objective, this study used Hansen’s (1999) panel threshold regression (PTR) model by using a panel data of 30 sub-Saharan African (SSA) countries from 2000 to 2021.\u0000\u0000\u0000Findings\u0000This study finds that the nexus between corruption and FDI has a single threshold effect, with a 5.37% optimum corruption threshold value. At this threshold value, corruption affects FDI negatively. Any corruption value that is below the threshold value also elicits a negative corruption–FDI relationship. Despite having a negative relationship when the corruption value is above the optimum corruption threshold, it is not statistically significant.\u0000\u0000\u0000Research limitations/implications\u0000The implication of the results is that it is deleterious to use corrupt practices to draw FDI to SSA nations.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this study is one of the first in the corruption–FDI nexus literature to use Hansen’s PTR model to estimate an optimal corruption threshold. The authors recommend that policymakers in the selected SSA countries reconsider the use of corruption to attract FDI because there is an optimal corruption threshold that could impact FDI in the host country.\u0000","PeriodicalId":38940,"journal":{"name":"Journal of Financial Crime","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45649674","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}