Journal articles on the topic 'Financial crime detection'
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Slinko, Sergey V., Pylyp S. Yepryntsev, Artem O. Shapar, Dmytro B. Sanakoiev, and Alina H. Harkusha. "Modern indicators of financial crimes detection and their prevention in Ukraine." Revista Amazonia Investiga 10, no. 44 (September 29, 2021): 61–72. http://dx.doi.org/10.34069/ai/2021.44.08.6.
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The increase in the level of financial crime is caused by the technological development, weak moni-toring of financial institutions, low level of international cooperation in terms of combating these types of crimes. The paper aims to develop effective ways to combat financial crimes in Ukraine. With the help of a systematic analysis of financial crime modern indicators, theoretical sources, prac-tical measures and international experience, the main indicators of financial crimes are identified. Such indicators are the use of false documents and other people's accounts, international payment systems; frequent and complex financial transactions of a confusing nature; unusual for a client amounts and counterparties of the transaction; incomplete or missing payment information. The study has found that the increase in the level of financial crime is influenced by the presence of off-shore zones, the low level of liability for the crime, the reluctance of financial institutions to interact with law enforcement agencies in regard to combating such crimes. It is possible to increase the level of financial crime counteraction by conducting an external audit and investigation of financial crimes, establishing international cooperation to combat such crimes, blocking suspicious financial transactions, taking preventive measures and combating related crimes.
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Slinko, Sergey V., Pylyp S. Yepryntsev, Artem O. Shapar, Dmytro B. Sanakoiev, and Alina H. Harkusha. "Modern indicators of financial crimes detection and their prevention in Ukraine." Revista Amazonia Investiga 10, no. 44 (September 29, 2021): 61–72. http://dx.doi.org/10.34069/ai/2021.44.08.6.
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The increase in the level of financial crime is caused by the technological development, weak moni-toring of financial institutions, low level of international cooperation in terms of combating these types of crimes. The paper aims to develop effective ways to combat financial crimes in Ukraine. With the help of a systematic analysis of financial crime modern indicators, theoretical sources, prac-tical measures and international experience, the main indicators of financial crimes are identified. Such indicators are the use of false documents and other people's accounts, international payment systems; frequent and complex financial transactions of a confusing nature; unusual for a client amounts and counterparties of the transaction; incomplete or missing payment information. The study has found that the increase in the level of financial crime is influenced by the presence of off-shore zones, the low level of liability for the crime, the reluctance of financial institutions to interact with law enforcement agencies in regard to combating such crimes. It is possible to increase the level of financial crime counteraction by conducting an external audit and investigation of financial crimes, establishing international cooperation to combat such crimes, blocking suspicious financial transactions, taking preventive measures and combating related crimes.
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Didimo, Walter, Giuseppe Liotta, and Fabrizio Montecchiani. "Network visualization for financial crime detection." Journal of Visual Languages & Computing 25, no. 4 (August 2014): 433–51. http://dx.doi.org/10.1016/j.jvlc.2014.01.002.
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OKSANA VIVCHAR. "ORGANIZATIONAL AND LEGAL MECHANISM OF FINANCIAL INVESTIGATIONS IN LAW ENFORCEMENT ACTIVITY: INFORMATION AND ANALYTICAL APPROACH." Herald of Khmelnytskyi National University 294, no. 3 (March 2021): 82–86. http://dx.doi.org/10.31891/2307-5740-2021-294-3-13.
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In modern conditions of turbulence of economic processes of activity of law enforcement agencies testifies that effective counteraction to crime is impossible without active use of economic knowledge. Please note that the practical effectiveness of the mechanism for detecting and investigating economic crimes depends to some extent on the study of financial information that characterizes criminal activity. Meanwhile, it should be noted that at the stage of crime detection, financial monitoring of dubious financial transactions is used, inspections and audits of financial and economic activities of economic entities are conducted. At the stage of crime investigation, the timely appointment and conduct of forensic accounting examinations, the involvement of a specialist economist in investigative actions, etc. is important. Combating modern crime involves the integration of legal and economic knowledge, as well as the interaction of operational and investigative units of law enforcement agencies, which are directly involved in detecting and investigating crimes together with experts with economic knowledge. The article examines the conceptual and categorical apparatus of financial investigations and the role of law enforcement agencies in the process of detecting criminal activity. Information and analytical support of financial investigations is substantiated. As a result of scientific research, it is identified according to the classification features of the scheme of legalization (laundering) of criminal means. On the basis of which the three-phase model of legalization (laundering) of proceeds from crime is characterized, which consists of three stages: stages, stratification, integration.
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Brody, Richard G., and Frank S. Perri. "Fraud detection suicide: the dark side of white-collar crime." Journal of Financial Crime 23, no. 4 (October 3, 2016): 786–97. http://dx.doi.org/10.1108/jfc-09-2015-0043.
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Purpose The purpose of this paper is to explore the issue of suicide, a violent act against one’s self, as it relates to white- and red-collar crimes. White-collar crime can be described as nonviolent crime committed for financial gain. Red-collar crime describes a situation where a white-collar criminal commits an act of violence, often murder, to silence someone who is in a position to report a fraud they have perpetrated. Previous research has not addressed the issue of suicide, as it relates to white- and red-collar crime. Design/methodology/approach The analysis is conceptual, focusing on the historical underpinnings of white- and red-collar crime and reviewing the evolution of white-collar criminals. Sources of information consisted of published news media, scholarly articles and articles retrieved from the web. Findings A suicide may be linked, directly or indirectly, to a financial crime. Law enforcement must be careful not to jump to conclusions, as there is a possibility that a staged suicide has occurred. Originality/value Law enforcement individuals may want to consider an additional motive when investigating a suicide, especially when the victim has some type of connection to a known fraud. This type of connection may not be readily apparent and may require a new approach on the part of a law enforcement investigation.
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Vasylchyshyn, Oleksandra, and Olena Sydorovych. "INSTITUTIONS OF CIVIL SOCIETY AS SUBJECTS OF FIGHT AGAINST FINANCIAL CRIMES." Economic Analysis, no. 30(4) (2020): 109–17. http://dx.doi.org/10.35774/econa2020.04.109.
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The article considers the legislative rights of civil society institutions to interact with the state. The influence of financial crimes on the functioning and development of the state, as well as the possibility of the influence of civil society institutions on the detection and detection of financial crimes has been studied. The activity of the State Financial Monitoring Service on detection and processing of information of risky financial transactions and its cooperation with foreign divisions of financial investigations is described. The most popular countries in which there are entities with a suspicious reputation for financial transactions are identified. It is emphasized that the human and resource potential of civil society institutions will contribute to the detection of money laundering operations. It is also determined that the legalization of criminal proceeds is a financial crime that encroaches on the established procedure for conducting financial transactions, and hence on the interests of the state.
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Kurshan, Eren, and Hongda Shen. "Graph Computing for Financial Crime and Fraud Detection: Trends, Challenges and Outlook." International Journal of Semantic Computing 14, no. 04 (December 2020): 565–89. http://dx.doi.org/10.1142/s1793351x20300022.
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The rise of digital payments has caused consequential changes in the financial crime landscape. As a result, traditional fraud detection approaches such as rule-based systems have largely become ineffective. Artificial intelligence (AI) and machine learning solutions using graph computing principles have gained significant interest in recent years. Graph-based techniques provide unique solution opportunities for financial crime detection. However, implementing such solutions at industrial-scale in real-time financial transaction processing systems has brought numerous application challenges to light. In this paper, we discuss the implementation difficulties current and next-generation graph solutions face. Furthermore, financial crime and digital payments trends indicate emerging challenges in the continued effectiveness of the detection techniques. We analyze the threat landscape and argue that it provides key insights for developing graph-based solutions.
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Kim, Ae Chan, Seongkon Kim, Won Hyung Park, and Dong Hoon Lee. "Fraud and financial crime detection model using malware forensics." Multimedia Tools and Applications 68, no. 2 (April 3, 2013): 479–96. http://dx.doi.org/10.1007/s11042-013-1410-3.
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Gottschalk, Petter. "White-collar crime." International Journal of Police Science & Management 19, no. 2 (June 2017): 120–26. http://dx.doi.org/10.1177/1461355717711453.
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Policing religious organizations presents challenging situations. When there is suspicion of financial crime by white-collar criminals, secrecy and trust represent obstacles to law enforcement. This article discusses the lack of detection and neutralization techniques often applied in religious organizations. There may be too much trust, too much freedom, too much individual authority, too little scepticism, too much loyalty and too little control of the financial side in religious organizations. There may be no empirical evidence for the proposition that religion has a deterrent effect on crime, although sociologists and criminologists have long recognized potential links between religious belief and delinquent behaviour.
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Zavydnyak, I. О. "Legalization «laundering» of funds obtained by criminal route as one of the types of economic transnational crimes." Analytical and Comparative Jurisprudence, no. 4 (April 28, 2022): 313–17. http://dx.doi.org/10.24144/2788-6018.2021.04.54.
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The article considers one of the types of transnational economic crimes - legalization (laundering) of proceeds from crime. Emphasis is placed on the fact that the legalization (laundering) of proceeds from crime is a predicate offense, because it is not characteristic of any one type of organized crime, but for a very wide range of transnational crimes, because the vast majority of them are for profit and criminally acquired assets. In this regard, the process of investigating and providing legal assistance in the investigation of such economic transnational crimes has a number of features and obstacles.
The need for an appropriate legal framework for international cooperation in the fight against money laundering (laundering) is indicated.
Three main stages of legalization (laundering) of criminal proceeds as one of the economic transnational crimes have been identified and analyzed. Thus, the first stage of such illegal actions is: placement of cash in the normal circulation of money (the process of penetration of proceeds from crime into the economic system, which aims to free the holder of a large sum of funds from cash and its placement in national or foreign currency in cash turnover, for the next stage). The second stage of legalization (laundering) of proceeds from crime is camouflage (hiding traces and ways of spreading) or cash circulation, which includes a number of financial transactions aimed at concealing the source of money. The third stage is defined as integration (return and legalization of «laundered» money), full entry of funds into the legal economic system, where they can be used for any purpose.
It is emphasized that in the process of legalization (laundering) of proceeds from crime, there are certain periods (or «bottlenecks»), during which the risk of detecting such illegal activities increases significantly. Even with the large number of options, methods and forms of money laundering, such periods cannot always be avoided, which significantly increases the risk of detection of such illegal activities by financial intelligence units or other competent authorities. Such periods include: the process of receiving cash into the financial system; movement of cash flows across the state border; transfers within the financial system and at the exit from the financial system. Given this, in order to ensure the successful functioning of the entire system of legalization (laundering) of proceeds from crime, this process is usually performed by persons who are professionally engaged in management procedures for investing legalized proceeds in legal real estate and other assets.
It is noted that effective counteraction to the process of legalization (laundering) of proceeds from crime is impossible without the legal settlement of international cooperation in the investigation and collection of evidence of such economic transnational crimes.
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Gombiro, Cross, Mmaki Jantjies, and Nehemiah Mavetera. "A conceptual framework for detecting financial crime in mobile money transactions." Journal of Governance and Regulation 4, no. 4 (2015): 727–34. http://dx.doi.org/10.22495/jgr_v4_i4_c6_p8.
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Mobile money has made it possible for the unbanked to access financial service to areas previous not accessibly to traditional banking systems. Africa in particular, has indeed seen a growth in use of such services owing to the high penetration of mobile phones. While traditional banking services have been well regulated and secured, mobile money services are still new and vulnerable. Also, attacks and crimes targeting the internet, new technologies and new methods of payments have become sophisticated. This scenario requires novel proactive, real time techniques and solutions to detect financial crimes in mobile money transactions (MMT). The Financial Action Task Force (FATF) 2012 requires mobile money to be subject for monitoring and for compliance. Payment systems have evolved from hard cash, to credit cards, debit cards and now to the M-money, there are several approaches that have been used to detect financial crime in platforms such as credit cards and in the traditional banking system. However, most of these approaches are not suitable for m-money methods. A conceptual framework for detection of mobile money financial crime is proposed. The framework incorporates data mining techniques, big data analytics, Know Your Customers, historical databases and a knowledge base among other things.
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Vasylchyshyn, Oleksandra, Volodymyr Tytor, and Anastasia Tsar. "IMPLEMENTATION OF FOREIGN EXPERIENCE ON THE INVESTIGATION OF FINANCIAL CRIMES." Economic Analysis, no. 30(2) (2020): 17–23. http://dx.doi.org/10.35774/econa2020.02.017.
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The article considers foreign experience in the investigation of financial crimes on the example of such countries as the United States, Poland, Spain, Canada, France. The influence of financial crimes on the functioning and development of the state has been studied, and the peculiarities of counteracting and combating money laundering in these countries have been determined. The activity of the State Financial Monitoring Service on detection and processing of information of risky financial transactions and its cooperation with foreign divisions of financial investigations is described. The most popular countries in which there are entities with a suspicious reputation for financial transactions are identified. It is also determined that the legalization of criminal proceeds is a financial crime that encroaches on the established procedure for conducting financial transactions, and hence on the national interests of the state.
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Fauzi, Fitriya, Kenneth Szulczyk, and Abdul Basyith. "Moving in the right direction to fight financial crime: prevention and detection." Journal of Financial Crime 25, no. 2 (May 8, 2018): 362–68. http://dx.doi.org/10.1108/jfc-06-2017-0060.
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Purpose The purpose of this paper is to identify current measures taken for financial crime’s prevention and detection in the context of Indonesia. Design/methodology/approach This study is based on data from articles in Indonesian newspapers relating to the current financial crimes, current measures of preventing financial crimes in Indonesia and based on the literature review. Findings There are some attempts to combat financial crimes in Indonesia, both internally and externally. The attempts that have been made for the internal scope are the enactment of anti-money laundering law, the new monitoring system of financial institutions and the formation of a superintendent institution. The attempts that have been made for the external scope are the agreement between Indonesia’ financial intelligence unit Pusat Pelaporan dan Analisis Transaksi Keuangan (PPATK), and other countries’s financial intelligence unit, the affiliation member of the Asia/Pacific Group on Money Laundering (APG) to combat financial crimes through strengthening its anti-money laundering and terror financing capabilities. Originality/value This paper presents an overview of current prevention and detection measures in the context of Indonesia, and it is hoped that this paper will contribute to the current discussion of eliminating financial crimes.
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Zavalishina, Alexandra. "DETERMINATION OF THE COMPOSITION OF ANALYTICAL PROCEDURES FOR REVEALING MANIPULATION SIGNS IN THE FINANCIAL STATEMENTS OF CONSTRUCTION SECTOR ORGANIZATIONS." Research of Economic and Financial Problems, no. 1 (March 31, 2022): 1–14. http://dx.doi.org/10.31279/2782-6414-2022-1-5-1-14.
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Introduction. In modern conditions, the study of the essence and prevention of economic crimes is becoming more and more relevant, since the damage from their consequences increases significantly every year. The growing volume of damage is associated both with the general trend of increasing crimes and with the growth of their detection, which becomes possible if the essence of the crime, its execution and motives are understood. Manipulation in financial statements, as one of the types of economic crimes, is the most difficult method of fraud to detect. In this regard, many researchers offer a different set of tools for detecting manipulations, however, since the methods of committing fraud are constantly being improved, detection methods require timely modernization. Objectives. Determination of a sufficient set of analytical procedures in order to identify signs of manipulation in the financial statements of a construction organization based on public information. Methods. In the course of the study, methods of logical and statistical analysis were used. Results. An assessment of the financial and non-financial information of the construction holding activity was carried out, important components of the analysis of the financial and economic activities of the organization were identified, a set of analytical procedures used to identify signs of manipulation in financial statements was proposed. Conclusions. Conclusions are drawn about the importance of a comprehensive study of not only financial information, but also non-financial information, the use of a benchmarking procedure and the calculation of analytical indicators that can indicate problem areas in financial statements, on the basis of which a set of analytical procedures is proposed, including five stages: data collection for analytical procedures , testing financial statements by analyzing financial information based on a decision tree, analyzing non-financial and financial information, and comparing the results of the analysis of financial and non-financial information.
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Kramarova, Katarina, and Katarina Valaskova. "Application of Chosen Fraudulent Detection Technique in the Slovak Business Environment." SHS Web of Conferences 74 (2020): 01019. http://dx.doi.org/10.1051/shsconf/20207401019.
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The paper analyses the possibility of applying chosen fraudulent detection technique in the condition of Slovakia and then evaluates its explanatory power. The authors based on the idea that in addition to positive effects of globalization, negative effects on the activity of economic entities are also manifestations of this process. As the society has become more dependent on information technologies, increased globalisation and greater interconnectedness, certain exposure to negatives has expanded right along with them. One of this negative effect is clearly a financial crime of various type, including fraudulent financial reporting. The financial statements should “describe” factually and truthfully the financial and economic health of a company because it is the main sources of information for various type of stakeholders. Handling of it (considering in the context of financial crime) is primary the responsibility of owners or managers (provided the separation of the ownership structure from the management structure). Reasons for doing so are different. Their common denominator is the artificial creation of information asymmetry to obtain different “benefits”. It is therefore logical that the need for constructing techniques that would reveal an unacceptable legal action by a company in a financial reporting process is at the forefront.
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Trefilov, Alexander A., and Ekaterina S. Borodulkina. "Criminality in Liechtenstein." Russian Journal of Legal Studies (Moscow) 7, no. 2 (November 2, 2020): 66–70. http://dx.doi.org/10.17816/rjls43553.
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The authors of this article, on the basis of statistical, normative, and doctrinal sources (mainly German-speaking), examine the main features of crime in the Principality of Liechtenstein, which is located between Switzerland and Austria: 1) the predominance of drug trafficking; 2) criminal acts committed by foreigners as a significant share of crime Liechtenstein; 3) a sufficiently high crime detection rate. Further, the authors analyze crime prevention and deterrence measures in the Principality of Liechtenstein. The views of the reigning Prince Hans Adam II on illegal drug trafficking are considered. The issue of combating criminally punishable acts in the financial sphere (legalization of criminal income, financing of criminal activity, illegal banking activities, etc.), as well as the legal status of the financial intelligence Unit (Financial Intelligence Unit) is also touched upon. The opinion of ordinary people (carriers of ordinary legal consciousness) about the level of crime in Liechtenstein is studied via Internet forums.
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Motuzna, A. V., and M. O. Reznik. "Theoretical and Legal Bases of Research of Legalization of Criminal Proceeds and Directions of their Detection." Analytical and Comparative Jurisprudence, no. 3 (February 20, 2022): 117–20. http://dx.doi.org/10.24144/2788-6018.2021.03.21.
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In the article, the authors conducted a comprehensive analysis of the theoretical and legal foundations of the study of money laundering. In particular, a retrospective analysis of the formation of financial investigations into the legalization of proceeds from crime and the legal basis for their conduct was conducted. In particular, the authors focused on the stage of creating institutions aimed at combating financial crime, which led to the destabilization of the state as a whole. In particular, the following were identified: the tax police, the State Financial Monitoring Service, the National Agency for the Prevention of Corruption, the National Anti-Corruption Bureau of Ukraine, and the Bureau of Economic Security. Particular attention was paid to the legal framework for conducting financial investigations. The article identified and analyzed the provisions of the main legal acts that directly regulate the procedure for conducting financial investigations into the legalization of proceeds from crime. The authors have identified and analyzed the main areas of detection of money laundering. In particular, these are: 1) "accidental", unintended detection of legalization (laundering) of property obtained by criminal means; 2) identification of actions related to legalization in the context of monitoring actions (statistical data research; risk assessment; verification of enterprise reporting; tax audit, etc.). Analyzing the directions of detection of legalization of criminal proceeds according to the subjects, special (branch) subjects (specialists-lawyers and economists; primary and state) and so-called "detectives" were singled out and characterized. In view of this, the relevance of the study is beyond doubt. In general, the essence of financial investigations, in addition to the detection and cessation of criminal acts, which is to study new ways and methods of committing criminal encroachments, as well as to identify weaknesses in financial and economic security policy.
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Dumchikov, M. O. "Methods of legalization (laundering) of property obtained by criminal means in cyberspace." Analytical and Comparative Jurisprudence, no. 5 (December 30, 2022): 330–34. http://dx.doi.org/10.24144/2788-6018.2022.05.61.
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The emergence and development of new financial and information technologies, the integration of national economic systems into the world economy, the expansion of economic ties both at the level of a separate state and at the supranational level significantly facilitate and even ensure the communication of criminals not only on the territory of a separate country, but also its limits. Technical innovations are undoubtedly changing the financial services industry, offering entirely new products aimed at making them easier to access, but new threats and vulnerabilities are emerging for the financial sector, such as cyber-attacks (internet fraud) or account manipulation.
The relevance of the research topic is determined by the significant amount of criminal investments penetrating the legal economy, the commission of new criminal offenses, the use of new ways of committing criminal offenses in cyberspace, the involvement of an increasing number of people in criminal activities, the corruption of state officials, including those called fight crime. Money laundering harms the economic security and financial stability of Ukraine. The international nature of this type of criminal offenses complicates the detection and investigation of crimes, thereby creating a "financial basis" for criminal groups (organizations) to carry out illegal, including terrorist, activities.
All efforts aimed at combating the legalization of proceeds of crime in cyberspace without creating an effective system to combat this phenomenon do not yield positive results. Therefore, combating the legalization of proceeds obtained through crime requires the study of the origin and ways of spreading this socially dangerous phenomenon, as well as proper legal protection, in accordance with international standards.
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Ofori-Dwumfuo, G. O., and Esther Gyimah. "Business Intelligence as an ICT Tool for Financial Crime Detection in Ghana." Research Journal of Information Technology 5, no. 3 (September 1, 2013): 62–71. http://dx.doi.org/10.19026/rjit.5.5789.
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Uchenna, Onu Fergus, Ukabuiro Ikenna kelechi, Douglas Allswell Kelechi, and Kingsley Maduabuchi Okorie. "Integrated Unified Crime Information Management System." International Journal of Innovative Technology and Exploring Engineering 11, no. 8 (July 30, 2022): 87–92. http://dx.doi.org/10.35940/ijitee.h9115.0711822.
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Crime detection, investigation and prosecution are usually carried out by the various law enforcement agencies saddled with such responsibilities. In this study, an integrated web based unified system was developed and implemented for the five (5) agencies (Nigerian Police Force, National Drug Law Enforcement Agency, Economic Financial Crime Commission, Independent Corrupt Practices Commission, Department of State Services) to enhance domiciliation of crime data into one system for effective information sharing among the five agencies. The methodology adopted for the system design is Object Oriented Analysis and Design Methodology (OOADM) and the tools used are HTML, CSS, JavaScript, MySQL. The result obtained shows that with the integration of the five agencies, accurate records of suspects and victims were timely shared by the various agencies. There is also an effective collaboration among the various agencies in crime detection, investigation and prosecution of suspects.
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Bilen, Abdulkadir, and Ahmet Bedri Özer. "Cyber-attack method and perpetrator prediction using machine learning algorithms." PeerJ Computer Science 7 (April 9, 2021): e475. http://dx.doi.org/10.7717/peerj-cs.475.
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Cyber-attacks have become one of the biggest problems of the world. They cause serious financial damages to countries and people every day. The increase in cyber-attacks also brings along cyber-crime. The key factors in the fight against crime and criminals are identifying the perpetrators of cyber-crime and understanding the methods of attack. Detecting and avoiding cyber-attacks are difficult tasks. However, researchers have recently been solving these problems by developing security models and making predictions through artificial intelligence methods. A high number of methods of crime prediction are available in the literature. On the other hand, they suffer from a deficiency in predicting cyber-crime and cyber-attack methods. This problem can be tackled by identifying an attack and the perpetrator of such attack, using actual data. The data include the type of crime, gender of perpetrator, damage and methods of attack. The data can be acquired from the applications of the persons who were exposed to cyber-attacks to the forensic units. In this paper, we analyze cyber-crimes in two different models with machine-learning methods and predict the effect of the defined features on the detection of the cyber-attack method and the perpetrator. We used eight machine-learning methods in our approach and concluded that their accuracy ratios were close. The Support Vector Machine Linear was found out to be the most successful in the cyber-attack method, with an accuracy rate of 95.02%. In the first model, we could predict the types of attacks that the victims were likely to be exposed to with a high accuracy. The Logistic Regression was the leading method in detecting attackers with an accuracy rate of 65.42%. In the second model, we predicted whether the perpetrators could be identified by comparing their characteristics. Our results have revealed that the probability of cyber-attack decreases as the education and income level of victim increases. We believe that cyber-crime units will use the proposed model. It will also facilitate the detection of cyber-attacks and make the fight against these attacks easier and more effective.
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VASYLCHYSHYN, Oleksandra. "FINANCIAL CRIMES IN THE FISCAL SPHERE AS A THREAT TO THE ECONOMIC SECURITY OF UKRAINE." WORLD OF FINANCE, no. 1(66) (2021): 124–37. http://dx.doi.org/10.35774/sf2021.01.124.
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Introduction. Such criminogenic phenomena as shadowing and monopolization of the economy, legalization (laundering) of criminally obtained property are intensifying today in Ukraine. Recent changes in legislation and prospects for reforming fiscal and law enforcement institutions require a permanent study of the state of prevention, detection and investigation of financial crimes in the fiscal sphere. In this context, an important task is to create a single institution with appropriate functions, rights and powers. The purpose of the article is to identify real and possible risks for the formation of effective optimal directions for ensuring the economic security of Ukraine based on the analysis of the peculiarities of the processes of prevention, detection, termination, investigation and detection of financial crimes in the fiscal sphere. Methods. A number of general and special research methods were used in the study of the prevention, detection and investigation of financial crimes in the fiscal sphere, in particular: analysis, synthesis, induction, deduction, abstract-logical method and generalization method. Results. The necessity of creating a single institution for the prevention, detection and investigation of financial crimes, including in the fiscal sphere, is substantiated. Based on government statistics, the eight most popular tax avoidance schemes in Ukraine have been identified, leading to total budget losses. The structure of predicate crimes in court convictions in recent years is analyzed, and the main types of predicate crimes in the fiscal sphere are outlined. It is proved that in Ukrainian practice the number of criminal proceedings for tax evasion, brought to sentencing and prosecution decreases sharply, which indicates: the actual impunity for committing crimes in the fiscal sphere; inaction or excess of authority, improper investigation by the persons investigating these crimes, the presence of a corruption component in the pre-trial investigation; incompetence of investigators (detectives) investigating crimes in the fiscal sphere, as well as insufficient level of knowledge in the fiscal sphere of prosecutors as procedural managers. This made it possible to argue the feasibility of creating an economic security bureau. Based on the analysis of the dispositions of the articles of the Special Part of the Criminal Code of Ukraine, twelve articles have been identified that should be classified as tax crimes. Perspectives. Further research should focus on finding the best approach to addressing the issue of financial crime in the fiscal sphere, as well as to ensure the appropriate level of economic security in Ukraine.
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Ocansey, Evans O. N. D. "Forensic Accounting and the Combating of Economic and Financial Crimes in Ghana." European Scientific Journal, ESJ 13, no. 31 (November 30, 2017): 379. http://dx.doi.org/10.19044/esj.2017.v13n31p379.
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Economic and financial crimes have plagued every corner of the economies of the world. These crimes affect all firms and the economies of nations (developed, developing and under-developed). Continuous research confirmed a strong demand for the need of the prevention and detection of these crimes by institutions and nations. However, economic and financial crimes are difficult to detect and most of those detected are not reported for the fear of bad publicity and loss of investor confidence. Forensic accountants are perceived to have the training and skills needed to combat economic and financial crimes. Therefore, the research examined the relevance of forensic accounting technique application in the combating of these crimes in Ghana. The research employed survey research design by sampling all the technical officers (66) of Economic and Organized Crime Office of Ghana and data was analyzed through a regression model. It was found that, the application of forensic accounting technique has significant impact on the combating of economic and financial crimes in Ghana. Therefore, all institutions (anti-corruption agencies and companies) should establish forensic accounting unit to help strengthen internal controls and ensure thorough investigation in order to prevent, deter and detect financial and economic crimes. Moreover, Institute of Chartered Accountants-Ghana and National Accreditation Board of Ghana should ensure that forensic accounting courses are included in the academic and professional curricula of Ghana Universities and professional institutions to ensure the training and increase the awareness of forensic accounting in Ghana.
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Nagy, Ivett. "Drug crime transformation under the effect of online platforms." Belügyi Szemle 69, no. 6. ksz. (December 1, 2021): 107–23. http://dx.doi.org/10.38146/bsz.spec.2021.6.7.
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Many types of drug crimes are already known, but it is common to offender groups to implement them in an organised, coordinated, multi-level framework. Affected by online platforms, drug crimes are undergoing a transformation that presents new challenges for the authorities. Criminal groups also like to (re)take the opportunities offered by the Internet. Platforms that connect to the Dark Web, the Dark Internet (secret network form), have become increasingly popular over the past few years, thanks to the fact that there are also services available which are not available by traditional browsers. Coordinated cooperation between several countries, over several years, is needed to ensure successful detection in cyberspace. This is illustrated by a current EUROPOL report, published on 12 January 2021, which shows that a successful liquidation has occurred in the case of DarkMarket, one of the largest illegal marketplaces, requiring the cooperation of several European Union Member States and several non-European Union countries. In the face of the coronavirus epidemic, organised crime groups are still trying to remain active and resilient, which is not a challenge in the online space at this time, although drug delivery models needed to be changed, but they are trying to maintain the constant cycle of the market through their hiding methods. In my study, I am also looking for answers how the detection and recovery of criminal property is carried out at national and international level, in cases where drug crime takes place in the online space. What is the path of illegally acquired criminal property, how can financial profiling be carried out in these cases? In case of drug offences, we are talking about a special asset recovery where is no victim demanded, because there are very few known victims existing. With my study, I intend to capture the current topicality of drug crime, by detecting methods of committing crimes in the online space, internationally and domestically, and by exploring the current processes of asset discovery and recovery. In this way, I wish to provide results that can be used by the profession.
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Ashtalkoska-Baloska, Tatijana, and Aleksandra Srbinovska-Doncevski. "COMBATING MONEY LAUNDERING AS A PART OF TRANSNATIONAL ORGANIZED CRIME-CRIMINAL LAW METHODS AND PROBLEMS." KNOWLEDGE INTERNATIONAL JOURNAL 31, no. 5 (June 5, 2019): 1503–7. http://dx.doi.org/10.35120/kij31051503a.
Full textAbstract:
Money laundering its serious problem which threatens global financial system for a long time, hence measures against money laundering are part of one global system of criminal justice and policy against transnational organized crime, starting with predicting actions as criminal offences, precision its basic elements, giving priority of property sanctions and measures as a part of penal policy against this type of crime, but also finding new mechanism, in a way of detection and procedure of these illicit actions. This notion covers various activities directed against legalization of money acquired with committing crime, and therefore the center of injustice is exactly in covering criminal origin of money and including in legal financial flows. Although, in terms of detection and combating of this phenomenon, apart from the basic criminal offense, the money laundering operation itself and the predicate act often constitute a problem with regard to processing, which, if is not proved can constitute an additional obstacle of the procedure against the basic offence, as well as seizure of funds that are illegally obtained through such criminal activities. In this regard, the aim of this paper is to emphasize the necessity of building a global anti-money laundering system containing legislative measures as a first step in the control of money laundering and institutional restructuring for the effective enforcement of the existing criminal legislation. Criminalization and control of money laundering is complemented by confiscation of property and property gain acquired by such criminal activity, as measure which should enable reduction of financial power of criminal offenders and possibility of further committing of crime.
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Li, Chenglong, Ning Ding, Yiming Zhai, and Haoyun Dong. "Comparative study on credit card fraud detection based on different support vector machines." Intelligent Data Analysis 25, no. 1 (January 26, 2021): 105–19. http://dx.doi.org/10.3233/ida-195011.
Full textAbstract:
Credit card fraud is the new financial fraud crime accompanied by the gradual development of the economy which causes billions of dollars of losses every year. Credit card fraud case not only seriously violated the cardholder benefits and financial institutions, but also undermined the credit management order. However, fraudsters keep exploring new crime strategies constantly which exacerbates the crime rate of fraud. Thus, a predictive model for credit card fraud detection is essential to minimize its losses. By distinguishing between fraud and non-fraud, machine learning is one of the most efficient solutions for detecting fraud. Support vector machines have proven to be a novel algorithm with excellent performance. Nevertheless, the performance of SVM depends largely on the correct choice of model parameters (C and g), which could cause that the false positive was very high if the kernel function type and parameter cannot be selected properly. In this paper, based on the real transaction data of the credit card business, firstly, it will find the optimal kernel function suitable for the data set. Secondly, this paper will propose the method of optimizing the support vector machine parameters by the cuckoo search algorithm, genetic algorithm and particle swarm optimization algorithm. Last but not least, the Linear kernel function was found to be the best kernel function with an accuracy rate of 91.56%. Furthermore, the Radial basis function is used to optimize the kernel function, which can improve the accuracy from 42.86% to the highest accuracy rate of 98.05%. Compared with CS-SVM and GA-SVM, PSO-SVM has the best overall performance.
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Wibowo, Sunarno Edy. "Government Anticipation in Tackling Crime of Money Laundering (White Collar Crime) in Indonesia." International Journal of Applied Business and International Management 3, no. 1 (August 7, 2018): 145–63. http://dx.doi.org/10.32535/ijabim.v3i1.85.
Full textAbstract:
Indonesia is currently racing with time related to the increasingly rampant criminal corruption committed by state officials who have a very significant impact also on the increase of TPPU. One of the perpetrators' efforts to avoid him from the law by hiding or obscuring his crime through money laundering takes advantage of the mechanism of financial traffic.
Money laundering practices are very often committed against money earned from crime. The practice is simply a way to disguise or conceal the proceeds of a criminal offense. Money laundering is then used as a shield for the proceeds of the crime. Therefore, the existence of provisions or regulations on TPPU is very beneficial to minimize the velocity of funds from the crime.
The latent danger of corruption has touched almost all levels of society, not only in relation to state organizers, power and policy, but also to the presence of private parties. Various methods have been taken to eradicate it, both preventively and repressively as well as by making changes to the method of eradication. One of the objectives of repressive action is to restore the State's losses. Corruption has resulted in heavy losses to the state's finances and undermines the stability of the national economy.
The state losses in the form of assets resulting from corruption in returning it are not easy, the complexity of the settlement of criminal cases is one of the most dominant causes, not to mention the settlement of cases of corruption, especially those that have obtained permanent legal force, in relation to the spoils and payments replacement money, suspects, defendants, or convicted persons who disappeared at the time the proceedings were underway.
The handling of TPPU cases has significance for the return of state assets related to the eradication of corruption. Property becomes a very fundamental object in relation to corruption and TPPU. Money laundering is always associated with property derived from a crime. The outcome of corruption is certainly related to assets or property acquired in an unauthorized and dirty manner. The prosecution of the perpetrators of corruption is not only related to the problem of his actions but also the repression of the result of his act of seizure of assets or assets of the perpetrator.
Presidential Instruction Number 5 of 2004 on the Acceleration of Corruption Eradication issued by the President on December 9, 2004 to prove the seriousness of the government in criminalizing the money laundering of corruption results as well as a legal instrument that ordered law enforcement officers to immediately restore the state loss (asset recovery).1
The handling of TPPU, is a tough task for PPATK, especially to detect the occurrence of TPPU and further criminal acts. So the prevention and eradication of money laundering requires a systematic and comprehensive mechanism, which includes the detection process and legal process.2
The practice of money laundering through bank mechanisms is possible because banks are the most vulnerable financial institutions, and are subjected to the practice of Money Laundering whereby banks have a clearing system, international correspondence and a secret banking system.3
The role of the financial and government industry (PPATK) in preventing and eradicating TPPU becomes a barometer. It is based on banking and other financial services providers as front lines, in anti money laundering regimes. It is expected that financial institutions together with employees are at the forefront, in an effort to combat illegal financial activities.4
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Савенков, Александр, and Aleksandr Savenkov. "Criminal Law Practices and Stability of Crediting System." Journal of Russian Law 4, no. 9 (August 29, 2016): 0. http://dx.doi.org/10.12737/21223.
Full textAbstract:
The article is devoted to ensuring the financial security of the Russian state in connection with the implementation of the criminal policy. It underlines the need of decriminalization of the area of economic activity for the related legal relations protection. It defines the economic security threat to the country in the context of state strategic planning. It pays special attention to combating crime in the financial sphere. It covers changes in legislature in this sphere that result in expansion of legal practice of prosecution for crimes committed in such area, and that are aimed at preventing illegal financial transactions, as well as the organization of inter-agency cooperation in criminal cases of this category. Microfinance institutions in the form of firm-“ephemeral”, “pyramid schemes” and participating in illegal lending market, which is due to the ability to create imperfection of legal regulation of their activities are detected as a significant threat to stability of functioning of the financial and credit system. It indicates that the mechanism of criminal repression without other complex legislation is inadequate method to counter such crimes. It contains results of the analysis of prevention and detection of criminal acts of problems in this area and proposals for their resolution, including the normative character, and others.
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Obshalov, Serhiy. "Use of special knowledge in the detection and investigation of serious crime." Naukovyy Visnyk Dnipropetrovs'kogo Derzhavnogo Universytetu Vnutrishnikh Sprav 3, no. 3 (September 30, 2020): 185–90. http://dx.doi.org/10.31733/2078-3566-2020-3-185-190.
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The research highlights current aspects of the institute of special knowledge in the detection and investigation of felonies. Based on a thorough analysis of the views of prominent forensic scientists, based on current legislation, the concepts of special knowledge, forms and types of their use. Given the different professional competencies, the concept of special knowledge of an expert and a specialist is considered separately. Among the typical forms of use of special knowledge, attention is focused on those that are essential for the investigation of serious crimes, adhering to their classification into procedural and non-procedural. It is emphasized that one form of use of special knowledge passes into another, in particular, after forensic examinations, an audit is performed. Appointment and conduct of forensic examinations are covered depending on the type of serious crime (mercenary-violent, economic, etc.). Attention is paid to the choice of expert institution, the sequence of appointment and conduct of comprehensive forensic examinations. Some issues of specialist participation in the conduct of investigative (search) actions and measures of criminal proceedings are considered. The need for professional assistance during the inspection, search, investigative experiment, temporary access to things and documents at the preparatory stage, to record the progress of the investigative action, to work with traces and other evidence, during the evaluation of the results of the investigative action. The involvement of a psychologist as a consultant or specialist to compile a search psychological portrait of a criminal is considered. The significant role of departmental inspections in the investigation of serious crimes in the economic and financial spheres has been noted. Attention is paid to the expediency of involving a group or «team» of various specialists to participate in investigative (search) actions, the use of innovative technical developments for forensic purposes. Examples of practical activities and interview data of practical staff are given.
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Kuruppu, Nirosh. "Uncovering Financial Shenanigans: Benford’s Law as a Computer Assisted Analytical Procedure." International Journal of Business and Management 15, no. 7 (June 4, 2020): 37. http://dx.doi.org/10.5539/ijbm.v15n7p37.
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PricewaterhouseCoopers (2020) has reported the highest level of economic crime in their comprehensive annual survey of the issue since it launched more than twenty years ago. Two thirds of respondents indicated that the costs of fraud can reach up to a million dollars each, amounting to approximately ten percent of their annual turnover. Inside perpetrators such as employees commit about 37 percent of these frauds. In this context, a technique known as Benford’s Law can be cost-effectively applied to detect financial fraud which can be invaluable to auditors and other financial professionals. Benford’s technique is founded on the mathematical distribution of integers found in nature and has been shown to be particularly efficient and cost-effective in financial fraud detection. The technique can swiftly flag suspicious transactions from lists of numbers that comprise millions of records when employed as a computer assisted auditing procedure. Despite this, Benford’s Law is not widely used in accounting and finance. One of the key reasons for its limited use is because fraud investigators are often incognizant and unfamiliar with the method, and how it can be implemented in a fraud detection workflow. This paper set forth a concise and organised approach for implementing Benford’s technique as an analytical procedure through the well-known IDEA generalised audit software to flag suspicious transactions, which can then be further investigated. Both the application of the method and its interpretation in situations of both compliance and non-compliance is discussed. The methodology proposed in this paper can be an indispensable aid for fraud investigators in view of the considerable costs associated with economic crime.
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., Soumya Shrivastava, and Punit Kumar Johari . "Convolutional Neural Network Approach for Mobile Banking Fraudulent Transaction to Detect Financial Frauds." International Journal of Engineering Technology and Management Sciences 6, no. 1 (January 28, 2022): 30–37. http://dx.doi.org/10.46647/ijetms.2022.v06i01.005.
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In the real world, the identification of financial fraud in compliance with IoT criteria is highly effective since financial fraud causes financial damage. Several forms of financial fraud are likely, but unauthorized usage of mobile payment by credit card no. or certificate no.is the most common scenario. Detection of financial crime is a growing environment in which the victims will keep ahead. However, intelligent fraud detection facets remain scientifically unsupported. Deep learning (DL)arises from the idea of a multi-type representation of the human brain that incorporates basic characteristics at the low level or high-level abstractions.Financial fraud was a big issue as forgers discovered new methods of stealing currency. Therefore, adaptive methods of identification of fraud against forgers are required. Thanks to their versatile nature to detect emergent financial transaction fraud, deep learning approaches were enticing candidates. In this article, we suggest an in-depth learning approach for adapting financial fraud through the use of convolution neural networks (CNN). With the fraudulent transactions dataset, we tested our model experimentally. The results of the analysis show which our methods detect transactional fraud appropriately.
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Demestichas, Konstantinos, Nikolaos Peppes, Theodoros Alexakis, and Evgenia Adamopoulou. "An Advanced Abnormal Behavior Detection Engine Embedding Autoencoders for the Investigation of Financial Transactions." Information 12, no. 1 (January 16, 2021): 34. http://dx.doi.org/10.3390/info12010034.
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Nowadays, (cyber)criminals demonstrate an ever-increasing resolve to exploit new technologies so as to achieve their unlawful purposes. Therefore, Law Enforcement Agencies (LEAs) should keep one step ahead by engaging tools and technology that address existing challenges and enhance policing and crime prevention practices. The framework presented in this paper combines algorithms and tools that are used to correlate different pieces of data leading to the discovery and recording of forensic evidence. The collected data are, then, combined to handle inconsistencies, whereas machine learning techniques are applied to detect trends and outliers. In this light, the authors of this paper present, in detail, an innovative Abnormal Behavior Detection Engine, which also encompasses a knowledge base visualization functionality focusing on financial transactions investigation.
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Gottschalk, Petter, and Lars Glasø. "Gender in White-Collar Crime: An Empirical Study of Pink-Collar Criminals." International Letters of Social and Humanistic Sciences 4 (September 2013): 22–34. http://dx.doi.org/10.18052/www.scipress.com/ilshs.4.22.
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White-collar crime is financial crime committed by white-collar criminals. Sensational white-collar crime cases regularly appear in the international business press and studies in journals of ethics and crime. This article is based on a sample of 255 convicted white-collar criminals in Norway from 2009 to 2012. Only 20 out of 255 white-collar criminals presented in Norwegian newspapers in the years from 2009 to 2012 were women. In the popular press, white-collar crime committed by women is sometimes labeled pink-collar crime. In this article, a number of reasons for this gender discrepance are discussed. Women’s access to organizational power structures is rising, but remains still limited. This is in line with opportunity theory. Women may have a greater sense of risk aversion rather than risk willingness, and women may more easily be perceived as victims of crime. However, It is very hard to believe that Norwegian men commit ten times more white-collar crime than Norwegian women, also because Norway is seen as a salient egalitarian country. Therefore, it is a question of whether the detection rate for female white-collar criminals is lower than for males. As a consequence, more attention should be paid to characteristics of female white-collar crime and criminals in future criminology research and law enforcement.
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Cherniavskyi, Sergii, Andriy Zapototskyi, and Anton Syzonenko. "MODERN TECHNOLOGIES OF ACQUISITION OF FUNDS OF CITIZENS BY THE FINANCIAL PYRAMID." Baltic Journal of Economic Studies 4, no. 4 (September 2018): 356–60. http://dx.doi.org/10.30525/2256-0742/2018-4-4-356-360.
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The purpose of the article is to study the criminalistics of the use of the most common technologies of acquisition of funds of citizens, done by the way of the financial pyramid. The subject of the study is the content of criminal technology of fraudulent way of the financial pyramid. Methodology. The research is based on the use of general scientific and special-scientific methods and methods of scientific knowledge. The historical-legal method allowed determining the genesis of the concepts of “technology of criminal activity” and “financial pyramid”, as well as the formation of scientific and theoretical views on problems and methods of combating them. The comparative legal method was used to compare the doctrinal approaches of legislative regulation to counteract fraud committed by the method of the financial pyramid. The system-structural method contributed to the awareness of the technologies of preparing, committing, and concealing the fraud. The methods of grouping and classification were the basis for the author’s approach to the differentiation of technologies for the acquisition of funds of citizens, depending on the organizational and legal form, under the cover of which a financial pyramid was created. The statistical method is used in the analysis of investigative and judicial practice for ten years. The results of the study showed that the method of financial pyramid used for committing fraud is fully structured and includes criminal technologies for preparing, committing, and concealing the fraud. The combination of separate technologies in the mechanism of the crime is aimed at masking the active phase of criminal activity under civil-law relations, which complicates the timely detection of the signs of the crime both by the victim and by law enforcement agencies. Practical implications. The research carried out the typing of fraudulent techniques using the financial pyramid method, which is the basis for developing and improving methods of disclosure and investigation of crimes. Value/ originality. On the basis of the proposed author’s approach to the differentiation of technologies of criminal activity, it is possible to predict the emergence of the new ways of committing fraud in the financial sector.
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S, Gayathri K., and Deepthi P. S. "An Overview of Copy Move Forgery Detection Approaches." Computer Science & Engineering: An International Journal 12, no. 6 (December 30, 2022): 81–94. http://dx.doi.org/10.5121/cseij.2022.12609.
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Images have greater expressive power than any other forms of documents. With the Internet, images are widespread in several applications. But the availability of efficient open-source online photo editing tools has made editing these images easy. The fake images look more appealing and original than the real image itself, which makes them indistinguishable and hence difficult to detect. The authenticity of digital images like medical reports, scan images, financial data, crime evidence, legal evidence, etc. is of high importance. Detecting the forgery of images is therefore a major research area. Image forgery is categorized as copy-move forgery, splicing, and retouching. In this work, a review of copy-move forgery is discussed along with the existing research on its detection and localization using both conventional and deep-learning mechanisms. The datasets used and challenges towards improving or developing novel algorithms are also presented.
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Lee, Dong Im. "A Study on the Prevention of Hard Fraud in Automobiles: Centered on an Intentional Collision." Forum of Public Safety and Culture 16 (May 31, 2022): 153–71. http://dx.doi.org/10.52902/kjsc.2022.16.153.
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The main culprit of car hard fraud is using social media to recruit people through a legal method of recruiting part-time jobs and engaging them in crimes. Through this, criminals intentionally cause traffic accidents targeting vehicles that violate the law and acquire insurance and settlement money from the victim driver or insurance company. As a result, the purpose of the study is to present measures to prevent insurance leakage and increase insurance premiums for auto insurance subscribers.
The method of research is to identify the status and trend of insurance fraud by the Financial Supervisory Service, identify cases of auto-hard fraud based on Internet and domestic and foreign research data, and identify what measures insurers are taking to prevent damage to insurance fraud.
As a result of the study, car-hard fraud is causing an accident by intentionally colliding a vehicle that violates traffic laws. Through this, the high proportion of the victim drivers' negligence and the fact that the perpetrator claims to be a negligence accident are exploited by the insurance company. Insurance companies are responding by establishing a system that can detect habitual criminals, but it is less efficient in crime prediction and detection, and it seems that there is a limit for insurance companies to respond to and detect first-time criminals. Therefore, it was derived that it is possible to prevent insurance fraud only by preparing countermeasures through a more scientific and detailed approach.
In conclusion, car-hard fraud are becoming increasingly intelligent, and as a result, it is difficult to arrest criminals, so crimes are on a continuous increase. In order to eradicate such crimes, a control tower should be created under the Financial Supervisory Service to predict and arrest insurance fraud crimes. The first offender of a fraudulent crime using a car has a limit that cannot be arrested. Therefore, a detective system should be established to approach from the recruitment stage through social media, participate in crime execution, secure evidence, and request an investigation to an investigative agency. Car fraud criminals target vehicles that violate traffic laws, so if an accident occurs in violation of traffic laws, the driver is obligated to receive compliance education from the Korea Transportation Safety Authority, and The punishment regulations should be revised so that criminals can be reasonably punished.
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Antinucci, Dr Sc Mario. "“The Principles of Patrimony Due Process of Law: The Punitive Confiscation and the Protection of Third Parties Misrelated to the Crime”." ILIRIA International Review 5, no. 2 (December 31, 2015): 127. http://dx.doi.org/10.21113/iir.v5i2.84.
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main motive for cross-border organised crime, including mafia-type criminal organisations, is financial gain. As a consequence, competent authorities should be given the means to trace, freeze, manage and confiscate the proceeds of such crime. However, the effective prevention of and fight against organised crime should be achieved by neutralising the proceeds of crime and should be extended, in certain cases, to any property derived from activities of a criminal nature. Organised criminal groups operate without borders and increasingly acquire assets in Member States other than those in which they are based. There is an increasing need for effective international cooperation on asset recovery and mutual legal assistance. Among the most effective means of combating organised crime is providing for severe legal consequences for committing such crime, as well as the effective detection and the confiscation of the instrumentalities and proceeds of crime. Although existing statistics are limited, the amounts recovered from proceeds of crime in the Unionseem insufficient compared to the estimated proceeds. Studies have shown that, although regulated by Unionand national law, confiscation procedures remain underused. The adoption of minimum rules will approximate the Member States' freezing and confiscation regimes, thus facilitating mutual trust and effective cross-border cooperation. The Stockholm Programme and the Justice and Home Affairs Council Conclusions on confiscation and asset recovery, adopted in June 2010, emphasise the importance of a more effective identification, confiscation and re-use of criminal assets. In this article, we will focus on the recent Directive of the EU Parliament and of the Council on freezing and confiscation of proceeds of crime in the EU (3 April 2014).
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Kutera, Małgorzata. "Cryptocurrencies as a subject of financial fraud." Journal of Entrepreneurship, Management and Innovation 18, no. 4 (2022): 45–77. http://dx.doi.org/10.7341/20221842.
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PURPOSE: The main purpose of this paper was to identify the current scope of research on cryptocurrencies as a subject of fraud. Detailed research questions related to the determination of contemporary trends of the conducted research and the definition of potential opportunities for further investigation of this topic. One of the questions also concerned identifying the most common crimes committed using cryptocurrencies. METHODOLOGY: The study is based on a systematic literature review (SLR) of 57 publications available on the Scopus database. A bibliometric and descriptive analysis of selected literature items was carried out. Then, vital thematic clusters were separated, and an in-depth content analysis was performed. FINDINGS: The detailed bibliometric and descriptive analysis showed that cryptocurrencies as a subject of financial fraud are generally a new area of scientific research, although it is developing quite intensively. The relatively small number of publications, compared to other similar areas, also indicates that this topic has not yet been explored widely by scientists, and many different research trends can be created in it. Ultimately, the following key research areas were identified: types of cryptocurrency fraud, crime detection methods, risks related to blockchain technology, money laundering, and legal regulations regarding cryptocurrencies. It was also possible to identify that money laundering is currently the most common fraud. However, it has been pointed out that the second most frequent fraud is financial pyramids based on the Ponzi scheme. IMPLICATIONS: The paper clearly presents the main research trends on using cryptocurrencies in criminal activities. At the same time, it was emphasized that, compared to other research areas, this topic is relatively new. Therefore, there is a wide possibility of exploring not only existing but also undiscovered research trends. In addition, key types of fraud in economic practice have been identified, which is particularly important for financial market participants. It was clearly indicated which transactions bear the highest risk. It is also worth paying attention to the critical timeliness of the topic, as the scale of crimes involving cryptocurrencies has recently been growing rapidly. The study confirms the insufficient scope of legal regulations, which are not able to strengthen the security of economic transactions adequately. Therefore, it can be a clear indication for the governments of individual countries or international institutions for further efficient changes to the law. ORIGINALITY AND VALUE: The contribution of this study is threefold. It is one of the first research papers showing the results of a systematic literature review (SLR) combined with a bibliographic and in-depth analysis of the content of publications in this field. During the work, the VOSviewer software was also used, which enabled objective identification of the main thematic clusters based on the occurrences and link strength of keywords included in the publications. Secondly, the key types of fraud have been identified that, at the same time, cause the most significant financial loss. This allowed for the establishing of directions for further research, which have profound practical implications for market participants. Some of them relate to the need to develop and implement modern computer applications, allowing for the detection of a wider range of emerging abuses.
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Donegan, James J., and Michele W. Ganon. "Strain, Differential Association, and Coercion: Insights from the Criminology Literature on Causes of Accountant's Misconduct." Accounting and the Public Interest 8, no. 1 (January 1, 2008): 1–20. http://dx.doi.org/10.2308/api.2008.8.1.1.
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This paper introduces to the accounting literature two prominent criminology theories, strain and differential association, as possible explanations for criminal behavior by accountants and applies a recent integration of the two, coercion theory, to three recent financial statement frauds. We argue that understanding and preventing fraudulent accounting can be furthered by placing the phenomenon within the context of criminology research, which supports both individual and group-level explanations for white-collar crime. We also suggest that the American Institute of Certified Public Accountants (AICPA) moved too quickly in adopting Cressey's fraud triangle as the explanatory model for financial fraud in Statement on Auditing Standards (SAS) No. 99. Our analysis, although exploratory in nature, suggests that examining financial statement fraud through the lens provided by criminology theory may provide new insights into its causes as well as tools for detection and prevention. We conclude with a discussion of policy implications.
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Ayogu, Melvin D., and Tendai Gwatidzo. "Democracy and Corruption: On the Limited Role of Political Accountability in Deterring Asset Stripping." Journal of African Development 13, no. 1-2 (April 2011): 223–36. http://dx.doi.org/10.5325/jafrideve.13.1-2.0223.
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Abstract Focusing on capital flight of the worst kind for developing countries—stolen public assets—we develop a model which shows that both the threat of losing elective office and its complement, the threat of delayed detection, do not affect the choice of whether to plunder or not. Rather they mitigate the level of plundering. The role of instantaneous detection in the model drives the implication that separating a miscreant from the benefits of his crime can be an effective deterrent. However, such weaponry requires investment in the capabilities for “integrated financial investigation” and international cooperation. The ideas espoused in this paper corroborate the logic of the StAR initiative of the UNODC and the World Bank. We suggest the development of a research agenda on how to (i) grow adequate capabilities for detection, and (ii) create the political demand for the required international cooperation.
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Levi, Michael. "Evaluating the ‘New Policing’: Attacking the Money Trail of Organized Crime." Australian & New Zealand Journal of Criminology 30, no. 1 (March 1997): 1–25. http://dx.doi.org/10.1177/000486589703000101.
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After examining the growth of concern about organized crime, the article critically reviews the arguments advanced for focusing on the money trail as a strategy for combating it, suggesting that the amount of money laundered may be considerably less than that commonly assumed. It goes on to contrast the powerful imagery of ‘the new policing’ with the modesty of the impact of these measures on convictions and confiscated assets in Britain and Australia, and attempts to account for the low yield there compared with the US in terms of greater American concentration on financial and professional intermediaries and more draconian legislation. After discussing the debate over the involvement of the UK Security Service (MI5) in the ‘war against organized crime’ and technological developments in laundering detection, the article examines the tensions, (a) between high level policing on the one hand, and devolved police budgeting and community orientation on the other; and (b) in the attempt to regulate the social conscience of finance capital without making it impossible for them to make a profit.
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Юсупов, Артур Мансурович. "USE OF SPECIAL KNOWLEDGE AT THE STAGE OF INITIATION OF CRIMINAL CASES IN THE CREDIT AND FINANCIAL SPHERE." Rule-of-law state: theory and practice 18, no. 1(67) (March 30, 2022): 219–34. http://dx.doi.org/10.33184/pravgos-2022.1.17.
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Abstract. The use of special knowledge in the initiation of criminal cases in the field of credit and finance has some particularities. This is because, in Russian forensic doctrine, the speed of crime detection depends on the speed of investigative powers realization at the moment when the verification of the received information about a crime requires the use of special knowledge. At the same time, speed alone does not ensure success because the efficiency depends on the quality of the investigation of the crime report, which largely determines the effectiveness of further procedural activities. The purpose of the article is to study the problem of the use of special knowledge at the stage of initiation of criminal crimes in the credit and finance sphere. The author proposes to consider special knowledge as the knowledge in the sphere of banking, financial and credit relations, functioning and legal regulation of the relevant market. It should not be common and well-known, but it should be the result of vocational education and training and it should correspond the expert level recognized by the professional community and preliminary investigation bodies. For the subject matter of this study, this is the knowledge of accounting and auditing, banking, securities market, corporate law, business practices, digital banking, information law and the foundations and special functions in informal sectors of the economy. The subject matter of this study is knowledge of accounting and auditing, banking, securities market, banking and corporate law, business customs and best practices in banking, digital banking, information law and the foundations and features of the operation of the paralegal (grey) and shadow sectors of the economy. Methods: the author applies general scientific and specific scientific methods of cognition (formal-legal, formal-logical methods, documentary analysis). Results: when verifying a report of a crime in the banking sphere, the investigator is entitled and may obtain from a specialist any information on the status and conditions for opening settlement and other accounts of the person under examination, on the forms of non-cash and other settlements made, on the compliance of accounting documents reflecting settlement and other transactions with the law and rules of the Central Bank of the Russian Federation, on methods of accounting, use of tax optimization instruments, existence of overdue obligations. Moreover, the most frequent reason for preliminary verification of illegal banking activities is illegal cashing, which is carried out according to known model schemes and usually does not require complicated examinations. Therefore, in most cases, for the investigator it is a priority, financially and procedurally, economically and promptly to take advantage of the special knowledge of a competent person than to appoint an examination. The use of special knowledge at the stage of initiation of criminal cases in the area of credit and finance meets two types of obstacles: objective and subjective. Firstly, it is the lack of initial information, the loss of documents, files, as well as the receipt of banking information protected by banking secrecy, if the scope of the verification involves an operating legal financial and credit organization. Secondly, there are subjective obstacles: poor training, incompetence of a specialist or an investigator who incorrectly assigns a task to a competent person and (or) is unable to adequately use the information received.
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Lind, Kalle, Anne H. Salonen, Johanna Järvinen-Tassopoulos, Hannu Alho, and Sari Castrén. "Problem gambling and support preferences among Finnish prisoners: a pilot study in an adult correctional population." International Journal of Prisoner Health 15, no. 4 (December 5, 2019): 316–31. http://dx.doi.org/10.1108/ijph-07-2018-0041.
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Purpose The purpose of this paper is to explore the prevalence of potential problem gambling among Finnish prisoners; the associations between problem gambling and demographics, substance use and crime-related factors; and problem gamblers’ support preferences. Design/methodology/approach Prisoners (n=96) from two Finnish prisons were recruited between December 2017 and January 2018. The estimated response rate was 31 percent. Gambling problems were measured using the Brief Biosocial Gambling Screen. The participants were asked to report their gambling both for one year prior to their incarceration and for the past year. The independent variables were demographics (age, gender and marital status), substance use (alcohol, smoking and narcotics) and crime-related factors (crime type, prison type and previous sentence). Statistical significance (p) was determined using Fischer’s exact test. Findings Past-year pre-conviction problem gambling prevalence was 16.3 percent and past-year prevalence 15 percent. Age, gender, smoking, alcohol or illicit drug use were not associated with past-year problem gambling before sentencing. One-third of the prisoners (33.3 percent) who were sentenced for a property crime, financial crime or robbery were problem gamblers. One-quarter (24 percent) of all participants showed an interest in receiving support by identifying one or more support preferences. The most preferred type of support was group support in its all forms. Research limitations/implications It is recommended that correctional institutions undertake systematic screening for potential problem gambling, and implement tailored intervention programs for inmates with gambling problems. Originality/value This study provides a deeper understanding of problem gambling in prisons. Problem gambling is associated with crime and also seems to be linked with serving a previous sentence. Early detection and tailored interventions for problem gambling may help to reduce reoffending rates.
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Zimba, Aaron, Christabel Ngongola-Reinke, Mumbi Chishimba, and Tozgani Fainess Mbale. "Demystifying Cryptocurrency Mining Attacks: A Semi-supervised Learning Approach Based on Digital Forensics and Dynamic Network Characteristics." Zambia ICT Journal 5, no. 1 (May 31, 2021): 1–7. http://dx.doi.org/10.33260/zictjournal.v5i1.108.
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Cryptocurrencies have emerged as a new form of digital money that has not escaped the eyes of cyber-attackers. Traditionally, they have been maliciously used as a medium of exchange for proceeds of crime in the cyber dark-market by cyber-criminals. However, cyber-criminals have devised an exploitative technique of directly acquiring cryptocurrencies from benign users' CPUs without their knowledge through a process called crypto mining. The presence of crypto mining activities in a network is often an indicator of compromise of illegal usage of network resources for crypto mining purposes. Crypto mining has had a financial toll on victims such as corporate networks and individual home users. This paper addresses the detection of crypto mining attacks in a generic network environment using dynamic network characteristics. It tackles an in-depth overview of crypto mining operational details and proposes a semi-supervised machine learning approach to detection using various crypto mining features derived from complex network characteristics. The results demonstrate that the integration of semi-supervised learning with complex network theory modeling is effective at detecting crypto mining activities in a network environment. Such an approach is helpful during security mitigation by network
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Kryvosheiev, K. "Prospects for the functioning of a single law enforcement authority that ensures financial security of Ukraine." Fundamental and applied researches in practice of leading scientific schools 39, no. 3 (June 30, 2020): 45–48. http://dx.doi.org/10.33531/farplss.2020.3.8.
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Overcoming the current economic crisis is closely linked to the priorities of state policy aimed at ensuring the financial security of Ukraine, as crimes in the field of financial and economic activities have become a real threat to the national security of Ukraine. According to V.I. Melnyk, it is possible to counteract such a process only by systematically counteracting economic crime and consolidated work of law enforcement agencies, which are the subjects of financial and economic security [1].
Studying the current problems of the law enforcement system, which ensure the financial security of Ukraine, V.S. Chuban and K. M. Pasynchuk point to the inefficiency of their work, which is associated with the functioning of an extremely low level of interaction and coordination between law enforcement and regulatory authorities; the presence of competition between law enforcement agencies; lack of a single information system for the functioning of law enforcement agencies; use of problem methods of analysis, collection and processing of information; availability of outdated methods of work in the field of combating criminal offenses; the presence of a high level of external influence on the work of law enforcement agencies that ensure the financial security of the state; lack of coordinated work in the direction of consolidation and unification of foreign experience of law enforcement agencies in this area [2, P.154].
Given the significant diversification of law enforcement agencies and their powers, the key problems that arise in connection with the ineffective implementation of powers are: outdated methods of counteracting criminal threats in the field of public finances used in the work of law enforcement agencies, as well as imperfect methods of collecting, processing and analysing information; low level of functional interaction between controlling and law enforcement bodies, lack of a unified information system of state bodies, competition between law enforcement bodies and high level of external influence on such bodies; lack of unified with foreign law enforcement institutions methods of detection and investigation of economic crimes, committed using the capabilities of transnational criminal financial schemes [3].
This article analyses the administrative and legal basis for the creation of a single law enforcement agency that ensures the financial security of Ukraine, explores key issues in this area and ways to solve urgent problems.
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Tierney, Michael. "Spotting the lone actor: combating lone wolf terrorism through financial investigations." Journal of Financial Crime 24, no. 4 (October 2, 2017): 637–42. http://dx.doi.org/10.1108/jfc-08-2016-0052.
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Purpose In 2014, Paul Gill et al. introduced a study of 119 lone-actor terrorism cases, and found that lone-actor extremists could be more accurately identified by their behavioural characteristics and activities, rather than their extremist ideologies. The study was said to have significant impact on intelligence analysis in the field of counterterrorism. The purpose of this paper is to apply Gill et al.’s findings to financial intelligence investigations, to assist investigators with the detection and prevention of lone-actor terrorist financing. Design/methodology/approach This article provides an overview of the key findings provided by Gill et al. It then discusses the indicators of lone-actor terrorism in the context of financial intelligence investigations, and sets out methods to improve financial intelligence investigations to better identify and stop lone-actor terrorism in the future. Findings By applying traditional financial intelligence techniques, which focus on assessing an individual’s activity and behaviour, with open-source intelligence gathering, financial intelligence investigators will be better equipped to identify lone-actor terrorism and its financing moving forward. Originality/value This article will be of value to investigators specializing in terrorism and financial crime, as it will assist them in the identification of a proliferating security threat, the lone-actor terrorist. While the article relies on the findings provided by Gill et al., it takes a new approach by applying those findings specifically to the financial intelligence sector, to improve investigations related to terrorism.
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Slaughter, Matthew. "Supreme Court’s Treatment of Drug Detection Dogs Doesn’t Pass the Sniff Test." New Criminal Law Review 19, no. 2 (2016): 279–311. http://dx.doi.org/10.1525/nclr.2016.19.2.279.
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The current Supreme Court approach to the nuances involved in drug detection dogs is fundamentally flawed. The Supreme Court has allowed, on the evidentiary front, the introduction of unscientific evidence into law enforcement practices, which allows officers to disregard traditional Fourth Amendment protections. As Justice Souter stated in Illinois v. Cabellas, “[T]he sniff alert does not necessarily signal hidden contraband, and opening the container or enclosed space whose emanations the dog has sensed will not necessarily reveal contraband or any other evidence of crime.” The Courts classification of drug detection dogs in Caballes as sui generis is unsubstantiated. The Court in Caballes also determined that a dog sniff alone was sufficient to establish probable cause for a physical search inside a vehicle. The Court should revise this treatment and consider alternative proposals. Additionally the Court’s reliance in Florida v. Harris on blanket terms such as “bona fide organization” and “training program” illustrates the Justices’ incomprehension of the complexities involved in such a process. Finally, the Court in Harris inappropriately dismissed the very real financial incentive law enforcement has to maintain detection dogs that over-alert.
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Laufs, Julian, and Hervé Borrion. "Technological innovation in policing and crime prevention: Practitioner perspectives from London." International Journal of Police Science & Management 24, no. 2 (December 10, 2021): 190–209. http://dx.doi.org/10.1177/14613557211064053.
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Digital technology now plays a critical role in policing and security management, with policing apps, drones and body-worn cameras potentially being game-changers. Adoption of such technologies is, however, not straightforward and depends upon the buy-in of senior management teams and users. This study examines what obstacles practitioners face in the procurement, deployment and use of crime prevention and detection technologies. The issue is explored through a number of expert interviews conducted with practitioners in London between August 2019 and March 2020. This work expands previous, more theoretical, literature on the topic by adding a practical perspective and advances the understanding of issues faced in innovation processes and their management. We identified a variety of issues and obstacles to technological innovation for policing. These include the deployment of new systems at the cost of old ones, lack of financial and political support, issues in public–private partnerships, and public acceptability. Although individual practitioners may have the expertise and willingness to unleash the full potential of surveillance and crime-reduction technologies, they are usually restrained by institutional rules or, in some cases, inefficiencies. In terms of the latter, this study especially highlights the negative impact of a lack of technical interoperability of different systems, missing inter- and intra-agency communication, and unclear guidelines and procedures.
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Rojszczak, Marcin. "Compliance of Automatic Tax Fraud Detection Systems with the Right to Privacy Standards Based on the Polish Experience of the STIR System." Intertax 49, Issue 1 (January 1, 2021): 39–52. http://dx.doi.org/10.54648/taxi2021005.
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According to the EC estimates presented in November 2018, the so-called VAT gap amounted to approximately EUR 150 billion with organized crime groups largely responsible for its creation. Therefore, it is not surprising that states, while protecting their economic interests, are implementing new measures aimed at detecting and preventing tax crime. Poland is also pursuing this type of activity, and a number of innovative measures in the field of tax law have been introduced over the last few years. One such solution is the automatic system of analysing transaction data from financial institutions (System Teleinformatyczny Izby Rozliczeniowej, STIR). The way this system works – combining the collection of enormous sets of personal data including sensitive information with confidential analytics and composing reports for tax authorities and law enforcement purposes – must raise doubts as to its compliance with human rights standards. In terms of its operation, STIR resembles electronic surveillance systems in other EU Member States; the difference is that, instead of capturing telecommunications data, it aggregates bulk amounts of information on financial transactions. The purpose of this article is to discuss the regulations that establish the legal framework of STIR and to present recommendations on how to ensure its compliance with the privacy and data protection model functioning in the EU. Special attention will be paid to assessing the proportionality and quality of legal safeguards implemented to limit the risk of abuse of power according to standards established in the case law of the European Court of Human Rights (ECtHR) and the Court of Justice of the European Union (CJEU). Conclusions drawn from this analysis are not only important from the perspective of the Polish legislature but are also relevant to other countries and EU institutions implementing systems similar to STIR that are interested in developing cooperation between Member States in the area of combatting tax fraud. Right to privacy, tax fraud, transaction network analysis, automated decision-making, VAT gap.
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Gilmour, Nicholas, Tristram Hicks, and Simon Dilloway. "Examining the practical viability of internationally recognised standards in preventing the movement of money for the purposes of terrorism." Journal of Financial Crime 24, no. 2 (May 2, 2017): 260–76. http://dx.doi.org/10.1108/jfc-04-2016-0027.
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Purpose The purpose of this paper is to examine – using crime script analysis – the practical effectiveness of internationally endorsed and universally recognised counter-terrorism financing (CTF) standards in preventing the movement of money for the purposes of terrorism. The paper does not seek to examine the originating circumstances of terrorist finances or how laundered value is assigned. Design/methodology/approach Preliminary evaluation focuses on the discrepancies between the practices of money laundering and terrorist financing. Following an introduction to crime scripts, internationally endorsed anti money laundering (AML)/CTF practices are discussed to identify the process used to trace, prevent and limit money laundering and terrorist financing. Several terrorist financing case studies are then aligned to the process of crime script analysis to determine whether existing AML/CTF practices are effective in preventing terrorist financing. Findings The AML model “Placement, layering, integration” is only relevant to CTF in the comparatively rare cases when the origin of the money is crime. This creates a false sense of security through over reliance on AML/CTF for CTF purposes. A crime script approach can be applied to terrorist finance, but it is currently hindered by insufficient reporting of low level financing of terrorists, their addresses and associates. Law enforcement make insufficient use of financial intelligence – as a routine practice – in their crime and terrorist investigations; they have not adopted parallel investigation as a routine approach and consequently remain largely unconnected with the AML/CTF regime. Practical implications Utilising terrorist financing case studies, this paper identifies that existing AML/CTF international standards and practices are not adequate for controlling the movement of funds for financing terrorism because of the lack of focus on a specific script that aligns to known terrorist finance methodologies. While the paper identifies that existing AML/CTF international standards are thorough, the process underpinning the financing of terrorism is too dissimilar to the process of money laundering, namely, placement, layering, and integration, to support practices associated with terrorism prevention and detection. Originality/value This paper provides an examination of the practicalities behind the countering of terrorist financing from a compliance and investigative perspective. The paper is of interest to those involved in policy, compliance and investigations associated with terrorist financing.