Emerald | Journal of Financial Crime | Table of Contents http://www.emeraldinsight.com/1359-0790.htm Table of contents from the most recently published issue of Journal of Financial Crime Journal en-gb Tue, 29 Apr 2014 00:00:00 +0100 2013 Emerald Group Publishing Limited editorial@emeraldinsight.com support@emeraldinsight.com 60 Emerald | Journal of Financial Crime | Table of Contents http://www.emeraldinsight.com/common_assets/img/covers_journal/jfccover.gif http://www.emeraldinsight.com/1359-0790.htm 120 157 Getting one’s hands dirty! http://www.emeraldinsight.com/journals.htm?issn=1359-0790&volume=21&issue=2&articleid=17109788&show=abstract <strong>Abstract</strong><br /><br />Not available. Article literatinetwork@emeraldinsight.com (Barry Rider) Tue, 29 Apr 2014 00:00:00 +0100 Legislative and regulatory responses to the Global Financial Crisis from within the United Kingdom (UK) http://www.emeraldinsight.com/journals.htm?issn=1359-0790&volume=21&issue=2&articleid=17109831&show=abstract <strong>Abstract</strong><br /><br /><B>Purpose</B> - The purpose of this paper is to report and review the legislative and regulatory responses to the global financial crisis (GFC) from within the United Kingdom (UK).<B>Design/methodology/approach</B> - The paper observes aspects of the effect of the GFC within the UK, using economic statistics and institutional case studies. It summarises the laws that the European Union (EU) and UK have produced in the wake of the crisis, and recommends approaches to be taken from this point.<B>Findings</B> - The regulators are putting in place a comprehensive, integrated framework, much of which is sensible in its content. However, this structure will be insufficient to re-establish the effective operation of the financial sector, unless firms comply with the rules and a ‘relationship culture’ is developed.<B>Research limitations/implications</B> - It is not yet clear how the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will perform and co-ordinate.<B>Originality/value</B> - The paper presents a comprehensive review of relevant EU and UK legislation, thereby bringing readers up to date with the situation in the UK. Article literatinetwork@emeraldinsight.com (Graeme Baber) Tue, 29 Apr 2014 00:00:00 +0100 Anti-social financial practices in Nigeria: A significant others perceptions http://www.emeraldinsight.com/journals.htm?issn=1359-0790&volume=21&issue=2&articleid=17109810&show=abstract <strong>Abstract</strong><br /><br /><B>Purpose</B> - The problem of anti-corruption practices seems to be a taken-for –granted reality in many part of the world. In most developing countries like Nigeria, it is apparently seen as another problem to contend with as those nations grapple with the complex processes of social and economic development. <B>Design/methodology/approach</B> - The paper proposed Bhaskar (1989) theory of transformational model of social activity which suggests that the society provides the necessary conditions for intentional human activity and that intentional human action is a necessary condition for it. This is because it is difficult to separate people’s perception from the wider social context in which the phenomena arise and the way and manner in which the practices are constructed. To help understand why anti-social financial practices has become so deeply embedded in the Nigerian socio-political and economic system, the views of significant others (professionals, tax officials, NGOs, the media and regulators) were solicited about the structures that influence the activities of the social actor involved in these anti-social financial practices in Nigeria. <B>Findings</B> - Using results from 24 interviews, the paper argues that social structures, such as globalisation, history, politics and social networks, have influenced and [re]shape the attitudes and behaviour of actors towards committing anti-social financial practices. <B>Practical implications</B> - The paper therefore advocates a radical reform that could minimise the attendant problems created by these anti-social financial practices of actors and the enabling structures. <B>Originality/value</B> - The paper is a general review of literature and evidence on contemporary issues Article literatinetwork@emeraldinsight.com (Olatunde Julius Otusanya) Tue, 29 Apr 2014 00:00:00 +0100 Money, morals and motives: An exploratory study into why bank managers and employees commit fraud at work http://www.emeraldinsight.com/journals.htm?issn=1359-0790&volume=21&issue=2&articleid=17109792&show=abstract <strong>Abstract</strong><br /><br /><B>Purpose</B> - The purpose of this paper is to look in more depth at what motivates bank managers and bank employees to commit fraudulent offences at work. <B>Design/methodology/approach</B> - This exploratory study adopts both quantitative and qualitative methods to better comprehend what motivates bank managers and employees to commit fraud at work. Evidence is taken from a sample of 64 cases of fraud from the UK financial sector. The sample cases were then subdivided in relation to the occupational status of the offender and classified based on the motives of the offender.<B>Findings</B> - The research findings from this study indicate that, as with other sorts of white-collar crime, financial pressures play a hugely significant role in motivating bank employees and managers to commit fraudulent offences at work. However, the nature of these financial pressures appears to differ significantly depending on what role the offender occupies within the bank. Thus, for cashiers and those in lower positions, personal pressures generally act as the motive, whereas for more senior management offenders, personal financial considerations tend to come second to those of the organisation as a whole. <B>Research limitations/implications</B> - The preliminary findings from this paper emphasizes that there is a need for more research to be conducted on occupational fraud in the financial sector as to better understand what motivates insiders in the banking profession to commit financial fraud and other criminal offences. <B>Practical implications</B> - This paper will help accountants and financial regulators to better understand what motivates those in the financial sector to commit fraudulent offences at work. This, in turn, will enable them to better assess fraud risks and establish improved preventive and detective measures.<B>Originality/value</B> - The paper fills a gap in the fraud literature by providing an in-depth study that focuses exclusively on what motivates those inside the financial sector to commit fraudulent offences at work. Article literatinetwork@emeraldinsight.com (Matthew Hollow) Tue, 29 Apr 2014 00:00:00 +0100 The corporation as a city http://www.emeraldinsight.com/journals.htm?issn=1359-0790&volume=21&issue=2&articleid=17109806&show=abstract <strong>Abstract</strong><br /><br /><B>Purpose</B> - The purpose of this paper is to examine the social and structural relationships of the corporation as these factors may or may not affect the prevalence and type of white collar crime committed within the organization. <B>Design/methodology/approach</B> - In this paper, I apply a social disorganization framework as a potential means to explain criminal behaviour throughout the corporate hierarchy. <B>Findings</B> - This paper is conceptual in nature, providing discussion on the application of the principles of social disorganization theory and the concentric zone model as well as future steps for evaluation. <B>Originality/value</B> - The application of the social disorganization framework may provide valuable insight into how the social and structural elements of the corporation can contribute to crime within the organization and suggest modifications for deterrence. Article literatinetwork@emeraldinsight.com (Audrey C Clubb) Tue, 29 Apr 2014 00:00:00 +0100 Assumptions and deeming http://www.emeraldinsight.com/journals.htm?issn=1359-0790&volume=21&issue=2&articleid=17109789&show=abstract <strong>Abstract</strong><br /><br /><B>Purpose</B> - To analyse and provide a framework for considering assumptions<B>Design/methodology/approach</B> - This paper is a conceptual one.<B>Findings</B> - This paper provides both an analysis of assumptions and also a prescription for recognising and dealing with assumptions.<B>Research limitations/implications</B> - As the paper is a conceptual analysis the research implications are not relevant<B>Practical implications</B> - The analysis provided in this article should be of help to those working in financial crime, but also the paper should have a wider application<B>Originality/value</B> - Save where due acknowledgement is given, to the best of the writer's knowledge this paper is quite original. Article literatinetwork@emeraldinsight.com (Ronald D. Francis) Tue, 29 Apr 2014 00:00:00 +0100 Misrepresentation of financial statements; An accounting fraud case from Turkey http://www.emeraldinsight.com/journals.htm?issn=1359-0790&volume=21&issue=2&articleid=17109811&show=abstract <strong>Abstract</strong><br /><br /><B>Purpose</B> - The objective of this paper is to show to the public in general and auditors in particular that in the absence of control there is always a risk of fraud. Fraud can be in various forms. Larceny may be the most obvious case of fraud, but fraud may be done in many other ways too. Balance sheet fraud or financial statements fraud is a broader issue, it is far fletched than a few hundred dollars of a larceny case. In financial statement fraud the deep down effect may be millions or billions of dollars. <B>Design/methodology/approach</B> - The paper has been designed based on a fraud theory. The author has observed the implications of a possible fraud in a real audit case. The fraud theory has been tested through on financial analysis and audit tests. The theory then been revised and the existence of a finacial statement fraud has been proven.<B>Findings</B> - The paper explores that banks and group companies controlled by unreliable owners can lead to misuse of public`s funds in accordance with the directives of the owner. Public`s money can be transferred to other group companies in an illegal manner-in excessive amounts and never returned to the bank by means of applying different accounting fraud techniques.<B>Research limitations/implications</B> - Auditors, who may audit group companies that include a bank or banks with deposit receiving and lending rights should pay attention to the transactions between the group`s bank and the other group companies. The lending may be excessive in amount and/or never paid back and the financial statements would be misrepresented covering various fraud schemes.<B>Originality/value</B> - The case that the paper deals with reflects the author`s own audit experiences. The names of the companies have been changed but not the essence of the events. From this perspective it sheds light onto the path of an auditor who happens to be in a similar situation. Article literatinetwork@emeraldinsight.com (Cenap Ilter) Tue, 29 Apr 2014 00:00:00 +0100 The demographic profile of victims of investment fraud: A Canadian perspective http://www.emeraldinsight.com/journals.htm?issn=1359-0790&volume=21&issue=2&articleid=17109785&show=abstract <strong>Abstract</strong><br /><br /><B>Purpose</B> - The purpose of this study is to examine the demographic characteristics of investors who have been victims of investment fraud in Canada from 1984 to 2008.<B>Design/methodology/approach</B> - Data for this study comes from the Investment Dealers Association's (IDA) tribunal cases that were decided between 1984 and June of 2008. The cases were retrieved from the Securities Regulation Tribunal Decisions database in Quicklaw. Data was collected in order to examine the demographic profiles of the investors.<B>Findings</B> - The findings indicate that the victims were not particularly rich, and a significant proportion borrowed money and opened margin accounts to invest. Those most vulnerable, were investors who were retired and had limited investment knowledge. Many also dipped into their savings to fund their future retirement needs. <B>Practical implications</B> - The study is useful for regulators in the securities industry, because it paints a demographic portrait of the investors who are more vulnerable to investment fraud. Thus, as part of their investors' education mandate, regulators can tailor their fraud prevention programs to the needs of specific subsets of investors. <B>Originality/value</B> - This is the first study of its kind in Canada that provides a detailed demographic profile of victims of investment fraud. For the first time, data is available to show the occupational classifications, types of accounts, and investment objectives of investors who were victims of investment fraud. Article literatinetwork@emeraldinsight.com (Mark E. Lokanan) Tue, 29 Apr 2014 00:00:00 +0100