Economic Crime Research Articles

Providing a Comprehensive Model for Preventing prolongation of Economic Crimes proceedings with the Help of forensic Accounting Techniques Using Grounded Theory

Providing a Comprehensive Model for Preventing prolongation of Economic Crimes proceedings with the Help of forensic Accounting Techniques Using Grounded Theory

Maximum Limitation of Fines for Economic Crimes In Law Number 1 of 2023

Criminal law provisions in the colonial-era Criminal Code are no longer competent to uphold society’s sense of justice due to the emergence of more sophisticated crimes with a variety of modus operandi. By approving Law Number 1 of 2023 on the Criminal Code, the first steps toward reforming the criminal code were taken. One of the recently established law reforms has to do with the criminal justice system. In this study, the punishment scheme in Law Number 1 of 2023 will be identified and analyzed, as well as the effects of the law’s provision for maximum criminal sentences for economic offenses. This article’s study was conducted using a normative legal research methodology that included statutory, conceptual, and case-based approaches. The study’s findings demonstrate that Law Number 1 of 2023 offers minimal and maximum protections against criminal risks, among them economic crimes. If the loss resulting from the offense exceeds the maximum fine that may be imposed, this rule may result in unfairness, especially for the victim. Additionally, because judges are not allowed to impose sentences that exceed the predetermined guidelines, the maximum punishment cap may lessen the deterrent effect on criminals.

Forensic Accounting and Fraud Management in Government Owned Parastatal in Rivers State

Fraudulent practices among banks are major challenges facing the development of the industry. The federal government has been making several efforts in tackling these dreadful menaces by setting up many anti-corruption institutions to reduce cases of fraud and other activity of financial and economic crimes but the efforts seemed not to have yielded the desire results or have not been effective. This has put accounting professional bodies into a new perception and paradigm that go beyond statutory audit. The objective of this study focus on forensic accounting and fraud management, evidence from Nigeria, primary sources of data were appropriately used. 572 questionnaires were administered. The Researchers Use SPSS 21 to test the hypothesis to determine the F-value. The findings are that Forensic accounting significantly influences fraud detection and management. The researchers recommended that trained experts like the Professional Forensic Accountants should conduct the investigation, where there is evidence of fraud, appropriate disciplinary action in accordance with the Provision of rules should be implemented, and the restructuring of corruption agencies by the government for better performance. These agencies should have the will power and courage to perform optimally.

What works in policing money laundering?

PurposeThis paper aims to provide a comprehensive review of literature on policing money laundering to evaluate the quality of evidence presented in academic and grey literature. In doing so, this paper reflects upon what strategies and mechanisms work in preventing, detecting and disrupting money laundering.Design/methodology/approachTo investigate the quality of evidence presented in academic and grey literature on money laundering, the authors have conducted a structured literature review of over 1,000 sources. The authors have then evaluated the quality of evidence of these sources by using three distinct methods, namely, the Maryland scale, research excellence framework and quality of empirical evidence framework.FindingsThis paper finds a large number of studies on money laundering meeting the highest academic quality standard. However, only a very small number of those studies include empirical evidence that policing measures actually work with no study able to demonstrate a correlation between money laundering measures and risk factors at any point in time.Originality/valueThis paper provides practical and theoretical insights into what works in money laundering and the role of scientific evaluations. It is particularly relevant for the successful implementation of anti-money laundering policy measures, including, for example, the UK’s Economic Crime Plan 2023–2026, which aspires to measure the progress and impact of policing in this area.

The national authority in Norway is no serious economic crime office anymore? An empirical study of press releases

One reason many nations have centralized policing functions is to manage knowledge that can take on and solve the most complex criminal investigations and prosecutions in the country. Somewhat similar to the Serious Fraud Office in the United Kingdom and the Federal Bureau of Investigation in the United States, the National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økorim) is Norway’s central unit for fighting economic and environmental crime. After a scandal hit this national authority, the current research asks to what extent Økokrim is still a serious economic crime office. An empirical study of press releases from the national authority over a one year period, from June 2022 to June 2023, suggests that Økokrim has taken on less serious economic crime cases to close the competence gap between the requirements of new criminal cases and the qualifications among Økokrim employees and leaders. The consequence seems to be that from an estimated conviction rate of 1 out of 11 white-collar offenders in Norway in the past, less than 9 % are now brought to justice. This article contributes to the current state of knowledge regarding offender convenience depending on operations and policy choices of centralized crime agencies.

Factors Affecting the Likelihood of Fraudulent in Procurement Process: the Case of Royal Malaysian Air Force

Procurement encompasses activities and processes of purchasing good products and services in the public or private sector. It has been reported that 60% of fraud and economic crime perpetrators in the public sector were from government officials. Procurement fraud has increased in the public sector since 2012. This study aims to investigate the practice and likelihood of fraud in the Royal Malaysian Air Force (RMAF) procurement process and to recommend the course to improve the effectiveness of implementing the e-procurement system. This study employed a quantitative method to achieve the objectives of the research. This study adopted a questionnaire from previous research instruments used in many studies related to fraud intention as the primary data collection method. The questionnaire was distributed to the selected officers and other ranks within RMAF. The respondents were among all officers and employees involved directly in the procurement process. Using quantitative research for the data collection method allowed the researcher to evaluate and understand this data through statistical analysis. This study's findings revealed that work commitment, capability, and opportunity had a significant association with the likelihood of fraud in the RMAF e-procurement system when Pearson's correlation was used. Results from regression analysis addressed that capability and opportunity significantly influence the possibility of fraud.

IMPLEMENTATION OF LAWS REGARDING ECONOMIC CRIME IN THE ECONOMIC FIELD IN LAW NUMBER 20 OF 2001 CONCERNING ERADICATION OF CRIMINAL ACTIONS OF CORRUPTION

Crimes against the economy pose a significant challenge to the development and maintenance of economies across the world. The Indonesian government has enacted a number of laws, notably Law Number 20 of 2001 concerning the Eradication of Corruption Crimes, in order to address this issue and find a solution. This legislation plays a significant part in the fight against economic criminal activity in all areas of the economy. The purpose of this research is to investigate the challenges and elements that contribute to the success or failure of anti-corruption efforts. This study employed an empirical research method, which is a type of legal research that involves examining primary and secondary data, specifically data obtained directly from the public through field studies and literature studies. Field studies and literature studies are two of the most significant challenges facing efforts to eradicate economic crime in Indonesia. This study has significant implications that will enhance knowledge, provide advice, and provide suggestions to boost the efficacy of the execution of Law Number 20 of 2001 in eliminating economic crimes. These implications are crucial because this research will promote understanding, provide direction, and provide recommendations. It is anticipated that these repercussions will serve as the foundation for specific policies and actions that will boost the level of success achieved in the fight against economic crimes in Indonesia.

KEWENANGAN PENYIDIK PERWIRA TNI ANGKATAN LAUT DALAM PENEGAKAN HUKUM TINDAK PIDANA PENCUCIAN UANG YANG BERASAL DARI TINDAK PIDANA PERIKANAN (PASCA PUTUSAN MAHKAMAH KONSTITUSI No. 15/PUU-XIX/2021).

Money laundering is a crime involving the laundering of money, aimed at combating economic crimes and recovering the proceeds of the crime. This study focuses on the authority of Navy investigators in handling allegations of money laundering related to fisheries crimes. It explores their jurisdiction in investigating both the predicate crime and the money laundering itself, as well as their law enforcement process. The research adopts a normative juridical approach, utilizing primary, secondary, and tertiary legal materials to analyze the Constitutional Court's decision. The court ruling grants Navy investigators the power to probe money laundering cases stemming from fisheries crimes. The decision highlights the inconsistency between Article 74 of the PPTPPU law and its explanation, questioning the separation of investigations between the predicate crime and money laundering. Navy investigators, in handling money laundering cases tied to fisheries crimes, take actions such as submitting inspection reports to PPATK, coordinating with PPATK, and seeking information from them. Recommendations include ensuring precise explanations of articles as the official interpretation of the law to avoid legal uncertainty. Additionally, the government should support the improvement of PPNS readiness, including Navy investigators, by enhancing their quantity, quality, and professionalism in conducting TPPU investigations. Strengthened cooperation and coordination with other law enforcement agencies, including PPATK, are also necessary to facilitate the investigations.

Development of the digitalization of the customs service in the Republic of Moldova

Cross-border trade is one of the sources of financing the state budget, and the Customs Service is the institute that ensures control over the payment of customs duties on time and in the amounts established by law. Along with the development of the digital economy, the digitization of all spheres of a modern state is also taking place. Information technologies have simultaneously touched both the public and private sectors. The Customs Service is one of the closest services to the economy, and its development (as well as the evolution of other sectors) is vital for the state and its economy. Moreover, the innovations of the Customs Service should be carried out much faster than in other institutions because this service controls foreign trade, protects the domestic market, and fights against smuggling and other economic crimes related to illegal import/export of goods.

The Repercussion of Economic Offences in India

Economic offences form a separate category of crimes under criminal offences. Socioeconomic offences are crimes that have an impact on a society’s economic and financial well-being. These offences are usually committed by individuals or corporations with significant financial resources, and the economy’s results can be severe. A few high-profile incidents of socioeconomic offences have occurred in India in recent years, bringing the subject to the forefront of public attention. This blog article will look at the impact of socioeconomic crimes on the Indian economy, as were laws and regulations in place to combat them. This paper discus about various economic offences, the relevant legislation and concerned enforcement authorities and their various duties observed in different environmental conditions. Economic offences not only inflict pecuniary losses on individuals but also damage the national economy and have security implications as well. The offences of smuggling of narcotic substances, counterfeiting of currency and valuable securities, financial scams, frauds, money laundering and hawala transactions etc. evoke serious concern about their impact on national security. The economic activities are listed based on their offences and related to the law through investigative officers and related agencies or departments. This paper mainly focuses on the various offences all over India mainly concentrating on the metropolitan cities and their population ratio bases. This research deal with agitate economic offences detected by tenement officials and action taken by the Jurisdictional authority through their truth and fact of evidence. This article discusses the key economic crimes that are highlighted, as well as the numerous official government responses to the crime and the jurisdictional measures taken to defend against them under different conditions that promote both the development of the financial sector and the country

Economic and Corporate Criminal Responsibility Policy in Renewing National Criminal Law

<em>There needs to be a realignment of arrangements regarding corporate criminal liability which concerns regulation of when a corporation is said to have committed a crime, who within the corporation can be held accountable and the provision of appropriate sanctions for corporations that commit crimes, so that there is alignment of rules that have an impact on achieving legal objectives. Based on this background, this study uses two problem formulations, the first is how to regulate corporate criminal responsibility in economic crimes and how to reform the law on corporate criminal responsibility in economic crimes in Indonesia? This research method uses a normative method that departs from differences in criminal liability arrangements for corporations that commit criminal acts under Indonesian law which will result in weak law enforcement against corporate crimes. The results of this study are first, Corporate Responsibility has been regulated in several laws and regulations in Indonesia, but each law and regulation that regulates corporate crime in terms of scope, definition and subject matter varies, therefore there is a need codification and harmonization. provisions regarding corporate crime in order to create legal certainty. </em>

Revisiting the concept of organized crime through the disciplinary lens of economic criminology

The lack of understanding of the boundaries of economic criminology and the little agreement on the kind of offenses or deviant acts that fall in its substantive focus have invited an evaluation of the characteristics that criminals and/or crimes have to own in order to qualify as “economic crime.” This paper aims to revisit the growing disciplinary landscape of economic criminology with a view to outlining the role of organized crime in it. The analysis aims to refine and compare the concepts of “economic crime” and “organized crime,” deliberate on the central features of both, and speculate on the floating frontiers of economic criminology. It is argued that organized crime is part and parcel of the growing field of economic criminology and deserves a niche within it.

The private policing of economic crime – Corporate investigations and settlements

This paper examines the private efforts by organisations in response to internal economic crime. As a result of multiple factors such as an overburdened criminal justice system, a lack of fit between criminal justice solutions and commercial interests, and the existence of a professionalised corporate investigations market, the control of (internal) economic crime is now predominantly a private affair in many countries. ‘Corporate investigators’ are central actors in this context. These corporate investigators provide investigative services in cases when internal and self-investigations are necessary, and may provide or be of assistance with private solutions for these matters (‘corporate justice’). In this way, the control of internal economic crime within organisations may be conducted wholly out of sight of law enforcement authorities. However, this is not a strict separation, as the criminal justice system may be involved when deemed necessary. This paper explores the above phenomena, based on previous work by the author and others in the context of the Netherlands, and through the use of international literature.

The case for economic criminology

This paper sets out the case for economic criminology. It argues ‘economic criminology’ is more than just a prefix that brings scholars and papers together exploring economic crime. The paper argues that crimes associated with economic criminology are a significant societal problem that deserves the attention of scholars to understand these problems and develop solutions. The paper illustrates the pool of those studying economic crimes is much wider than criminology, which is very distinct from traditional volume crimes. Indeed, the vast majority of research emanates from beyond ‘criminology’. This paper therefore argues ‘economic criminology’ can act as catholic paradigm to bring together the many disciplinary silos studying economic crime and that this is a natural development of criminology.

Economic crime, economic criminology, and serious crimes for economic gain: On the conceptual and disciplinary (dis)order of the object of study

This article has two main objectives. First, to interrogate the concept and/or conception of ‘economic crime’ (framed as a singular thing). We argue that current policy, and subsequently, social scientific (or criminological more specifically) framings, tend to arbitrarily ‘carve up’ the objects of study that interest us, in turn creating a ‘conceptual disorder’ that has implications for how we explain, and respond to, these harmful crimes. This raises questions about the value of the concept of ‘economic crime’ and about the related process of conceptual abstraction. In analytical terms, we argue that more can be gained by focusing on the necessary and contingent relations of serious crimes for economic gain. Second, to scrutinise the logic of ‘economic criminology’ (framed in terms of a singular discipline) and assess the value that criminology can add to analyses of related behaviours. Notwithstanding the journal’s aim to create a sub-field of ‘economic criminology’, we argue that research into the nature, organisation and control of serious crimes for economic gain ought to begin from the perspective of how we can create integrative, collaborative or multi-dimensional accounts of these behaviours in order to better organise, and identify, the most plausible explanations and interventions. To this end, we explore different ways of working interdisciplinarily, considering the underlying logic and/or rationale for doing so.

Reconstructing the Authorities of Investigators of the Financial Service Authority

Objective: Reconstruction of the authorities of investigators of the Financial Service Authority (FSA) as special investigators is needed to shed light on special cases of economic crimes in the financial services sector. Method: For investigators in general, it is difficult to handle such cases which have so far been assigned to the Police institution which basically has the main task of protecting society and maintaining public order. This has affected the powerless image of the criminal justice system in Indonesia in meeting the expectations of consumers and justice seekers as well as supporting national economic growth in a sustainable and stable manner, as defined to be the objective of the FSA establishment. This research method is empirical. Result: The results of the study show that the KSP Indosurya case worth IDR 106 trillion ended in the imprisonment of the plaintiff's lawyer while the defendant was declared acquitted because the criminal case was decided to be addressed as a civil case. Of course, this problem was rooted in a misdiagnosis at the stage of investigation and prosecution. Conclusion: For this reason, there must be a special investigative institution to handle special cases that will screen economic crimes in the financial services sector before they are forwarded to the courtroom.

Criminal involvement in business

The current situation of criminality and its involvement in several economic fields reveal that a new generation of criminal activities has been developed. They are particularly viewed during the last decades in the field of business, some of them being committed in accounting, banking and financial areas. The interest for these areas is as big as the perpetrators have made substantive efforts in order to harmonize their modus operandi to the updated means of committing crimes in the field of business. The paper aims at analysing the forms of criminal activities as well as their involvement in the field of business, both from theoretical and practical point of view. The jurisprudence in criminal matters has been analysed and discussed from the perspective of form of economic crimes as well as to gather evidence in purpose to decide beyond any during the research activity conducted on this topic emphasize that a new trend of criminality in the field of business exists. It should be taken into account by the judicial bodies in purpose to combat and prevent as much as possible the forms of the criminal involvement in the field of business.

The Impact of Deviant Social Media Influencers and Consumer Characteristics on Purchasing Counterfeit Goods

ABSTRACT Product counterfeiting is a large and global economic crime that causes significant economic, social and personal harms. Facilitated by the efficiency and convenience of e-commerce, finding and buying counterfeits have never been easier. Going beyond product listings on websites, counterfeiters are now using sophisticated marketing techniques to promote their illicit wares. This includes employing deviant social media influencers who violate social norms and the law to peddle counterfeit goods via channels such as YouTube and Instagram. However, very little is known about their market or their impact. Based on two UK surveys, the empirical research described in this article estimates the prevalence of consumers who purchase counterfeits because of SMI endorsements. We believe this is the first estimate of its kind anywhere. Further, the research finds that influencer marketing exploits characteristics of consumers that make them susceptible to the charms of the deviant SMIs: high susceptibility to the influence of trusted digital others, low risk awareness, high risk appetite, and prone to rationalizations that morally justify the purchases. The higher prevalence of these characteristics in young adults and males helps to explain why these demographic groups are the most likely to purchase endorsed counterfeits.

Childcare counsel: House Rules

The Economic Crime and Corporate Transparency Bill – what does it mean for business owners? Fiona Phillips, corporate and commercial team solicitor at Morgan LaRoche, explains

Operational and investigative support for the investigation and trial of criminal cases on economic crimes committed with the help of information, communication and digital technologies

Operational and investigative support for the investigation and trial of criminal cases on economic crimes committed with the help of information, communication and digital technologies