Digital Commons Network^™

Of Breaches Of The Peace, Home Invasions, And Securities Fraud, A. Christine Hurt

Faculty Scholarship

No abstract provided.

The Phantasm Of Atm Withdrawal, Nattakant Utakrit

Australian Information Security Management Conference

Despite the stringent legislation and increased enforcement aimed at combating financial crime, fraud using cash machines remains a public concern. The problem of ATM fraud is happening on a global scale and the ramifications have been felt in Australia. This paper highlights the stratagems of financial crime, in particular of ATM fraud. The abuse of ATMs with intelligent methods used by perpetrators will be discussed. At the same time, the paper will present some global cases of ATM fraud. Finally this paper will illustrate countermeasures and security methods, such as biometrics and premises protections of banks, financial institutions and customers, …

Security Issues Within Virtual Worlds Such As Second Life, Chia Yao Lee, Matthew Warren

Australian Information Security Management Conference

The advancement in Internet and bandwidth has resulted in a number of new applications to be developed. An area of advancement has been in the development of virtual worlds, where people can interact together via virtual characters. Virtual World systems have been so complex that virtual lives can be lived, including all aspect of life such as education, commerce, social activities etc. Not surprisingly, the problems that exist in the real world such as theft, fraud, vandalism and terrorism, also exist in the virtual worlds. The more developed these virtual worlds become the greater the breaches of security will be …

Betting On The Wrong Horse: The Detrimental Effect Of Noncompliance In The Internet Gambling Dispute On The General Agreement On Trade In Services (Gats), Kathryn B. Codd

William & Mary Law Review

No abstract provided.

The Competing Paradigms Of Securities Regulation, James J. Park

Duke Law Journal

Although the securities industry is primarily regulated by specific rules, it is also governed by general principles. When conduct violates a rule, the regulatory response is obvious-enforce the rule. The issue is more difficult when conduct does not violate a rule but violates a principle. A regulator can excuse the conduct on the ground that the law is unclear and prohibit the conduct going forward through rulemaking. Or, the regulator can punish the conduct through what I call a "principles-based" enforcement action. Since 2002, there has been a surge of principles-based enforcement actions, provoking criticism that regulators are engaging in …

What Is A Business Crime?, Richard A. Booth

Working Paper Series

Criminal prosecution has been used with increasing frequency recently in connection with a variety of business failures and other financial offenses. Indeed, it appears that there are few such offenses that cannot be prosecuted criminally even though they also give rise to civil remedies. While some such offenses seem to be quite serious frauds, others seem to be as minor as getting the accounting rules wrong. Thus, the question addressed in this essay is how to define a business crime and what should be the proper role of criminal prosecution in connection with business offenses. I start with the proposition …

Vol. 5, No. 06 (November/December 2007)

Indiana Law Update

No abstract provided.

Sarbanes-Oxley: The Evidence Regarding The Impact Of Sox 404, Robert Prentice

Cardozo Law Review

No abstract provided.

Vol. 33, No. 07 (October 22, 2007)

Indiana Law Annotated

No abstract provided.

Corporate Crime. Reporting Obligations For Executives And Managers. Statute.

Initiatives

Requires that executives and managers of corporations or limited liability companies report, in writing, any violation by company involving financial fraud, consumer protection, health and safety, environmental protection or labor. Establishes criminal penalties (jail up to one year and/or fine up to $100,000) for failure to report within 15 days after actual knowledge of violation acquired. Defines manager as having both management authority and significant responsibility for an aspect of business. Defines actual knowledge as information that would convince a reasonable person in same situation that violation exists. Summary of estimate by Legislative Analyst and Director of Finance of fiscal …

The Accountable Attorney: A Proposal To Revamp The Aba’S 1976 Statement Of Policy Regarding Lawyers’ Responses To Auditors’ Requests For Information, James S. Johnson

Texas Wesleyan Law Review

The American Bar Association's (ABA) long-standing compromise' with the American Institute of Certified Public Accountants (AICPA) regarding the role of lawyers in audits of public companies needs an overhaul. The current process is dysfunctional: accountants attempt to opine on a company's disclosures about litigation and to assess loss exposure without any foundation in the legal issues involved. During this process, those accountants turn to their clients' attorneys for help. But lawyers, concerned about preserving confidentiality and privilege, routinely respond to the accountants' requests with verbiage honed to say nothing at all. This Comment argues that the time has come to …

Doe V. Sexsearch.Com: Placing Real-Life Liability Back Where It Belongs In A Virtual World, Jon Burns

North Carolina Journal of Law & Technology

No abstract provided.

A Prescription To Retire The Rhetoric Of "Principles-Based Systems" In Corporate Law, Securities Regulation, And Accounting, Lawrence A. Cunningham

Vanderbilt Law Review

This Article corrects widespread misconception about whether complex regulatory systems can be described fairly as either "rules-based" or "principles-based" (also called "standards-based'). Promiscuous use of these labels has proliferated in the years since the implosion of Enron Corp. Users show an increasing habit of celebrating systems dubbed principles-based and scorning those called rules-based. While the concepts of rules and principles (or standards) are useful to classify individual provisions, they are not scalable to the level of complex regulatory systems. The Article uses examples from corporate law, securities regulation, and accounting to illustrate this problematic phenomenon. To describe or design systems …

Benford’S Law In Image Processing, Chaouki T. Abdallah, Greg L. Heileman, Fernando Perez-Gonzalez

Electrical & Computer Engineering Faculty Publications

We present a generalization of Benford’s law for the first significant digit. This generalization is based on keeping two terms of the Fourier expansion of the probability density function of the data in the modular logarithmic domain. We prove that images in the Discrete Cosine Transform domain closely follow this generalization. We use this property to propose an application in image steganalysis, namely, detecting that a given image carries a hidden message.

Missing The Forest For The Trees: The Seventh Circuit’S Refinement Of Bloom 'S Private Gain Test For Honest Services Fraud In United States V. Thompson, Robert J. Lapointe

Seventh Circuit Review

Public officials, as well as public employees, owe the public the fiduciary duty of providing their honest services. The mail fraud statute, 18 U.S.C. § 1341, proscribes using the mails to carry out “any scheme or artifice to defraud.” It further defines, in § 1346, “any scheme or artifice to defraud” to include “a scheme or artifice to deprive another of the intangible right of honest services.” In passing these statutes, Congress never defined the terms “scheme or artifice,” “intangible right” or “honest services.” Because of this failure, the appellate courts have adopted limiting principles to prevent minor breaches of …

Reinventing Consumer Protection , David Adam Friedman

DePaul Law Review

No abstract provided.

Earnings Management And Its Implications, Michael D. Akers, Don E. Giacomino, Jodi L. Gissel

Accounting Faculty Research and Publications

In the wake of continuing, highly publicized financial frauds and failures, the accounting profession has placed renewed emphasis on issues related to earnings management and earnings quality. Staff Accounting Bulletin 101, Revenue Recognition in Financial Statements, which was issued in December 1999 in response to the Committee of Sponsoring Organizations of the Treadway Commission report, illustrates the importance of earnings to the SEC. The SEC and the public are demanding greater assurance about the quality of earnings. Notwithstanding the grave threat that abusive earnings-management practices pose to the reliability and accuracy of financial statements, the accounting profession may be reluctant …

The Bg News August 1, 2007, Bowling Green State University

BG News (Student Newspaper)

The BGSU campus student newspaper. August 1, 2007. Volume 97-Issue 158.

The Murray Ledger And Times, July 28, 2007, The Murray Ledger And Times

The Murray Ledger & Times

No abstract provided.

Fraud: The Human Factor, Sridhar Ramamoorti, William Olsen

Accounting Faculty Publications

Eighty percent of respondents to a National Association of Corporate Directors (NACD) survey of public company audit committees felt that failure resulting from poor risk management couldn't happen to them. However, 50 percent thought it could happen to other companies.

This feeling of relative "invincibility" is similar to the statistically impossible "Lake Wobegon" effect--where "all the women are strong, all the men are good-looking and all the children are above average." Could this Lake Wobegon effect--which results from the human tendency to overestimate one's achievements and capabilities in relation to others--extend to an organization's assessment of its vulnerability to fraud …

The Decline And Fall Of The United Nations: Why The U.N. Has Failed And How It Needs To Be Reformed, Nile Gardiner

Macalester International

No abstract provided.

Krispy Kreme, Sarbanes-Oxley, And Corporate Greed, Cristina Michelle Decelestino

University of Miami Business Law Review

No abstract provided.

Legislation And Legitimation: Congress And Insider Trading In The 1980s, Thomas W. Joo

Indiana Law Journal

Orthodox corporate law and economics holds that American corporate and securities regulation has evolved inexorably toward economic efficiency. That position is difficult to square with the fact that regulation is the product of government actors and institutions. Indeed, the rational behavior assumptions of law and economics suggest that those actors and institutions would tend to place their own self-interest ahead of economic efficiency. This Article provides anecdotal evidence of such self interest at work. Based on an analysis of legislative history-primarily congressional hearings-this Article argues that Congress had little interest in the economic policy effect of insider trading legislation in …

A Director's Good Faith, Elizabeth A. Nowicki

Buffalo Law Review

No abstract provided.

Rewarding Outside Directors, Assaf Hamdani, Reinier Kraakman

Michigan Law Review

While they often rely on the threat of penalties to produce deterrence, legal systems rarely use the promise of rewards. In this Article, we consider the use of rewards to motivate director vigilance. Measures to enhance director liability are commonly perceived to be too costly. We, however demonstrate that properly designed reward regimes could match the behavioral incentives offered by negligence-based liability regimes but with significantly lower costs. We further argue that the market itself cannot implement such a regime in the form of equity compensation for directors. We conclude by providing preliminary sketches of two alternative reward regimes. While …

Security For And Use Of Digitalmeasures Data, Marc D. Cyr

Faculty Senate: Index

No abstract provided.

Improving Corporate Governance : Character Education As A Supplement To Corporate Ethics Training, Richard L. Muney

Theses, Dissertations and Culminating Projects

This thesis explores the hypothesis that ethics training for corporate personnel will significantly increase ethical behavior and thereby significantly reduce the incidence of corporate malfeasance.

For over 100 years the federal government has been trying to curb malfeasance by managers of public corporations and their boards of directors. This thesis examines the history of that legislation and those regulatory efforts, concluding that these legislative and regulatory attempts have met with varying degrees of success, but, on balance, that success has been transitory at best. It also comes to the conclusion that corporate training programs in ethics, in the absence of …

The Integration Conunudrum: Debilitating Failures Of The Securities And Exchange Commission Must Be Addressed As Corporate Malfeasance Is 'Getting Serious, So Serious', André Douglas Pond Cummings

Law Faculty Scholarship

The Securities Regulation doctrine of Integration has vexed securities lawyers and academics since its inception in the 1930s. The Securities and Exchange Commission (SEC) has struggled historically to define, refine and manage the securities Integration problem.

This article undertakes an historical analysis of securities integration recognizing both the evolution of the doctrine and the problems that it has engendered. The conclusion therein suggests that the SEC should abandon, if only momentarily, its practice of leaving securities rules undefined or loosely detailed in order to bring reason to the securities integration arena. A new solution is proposed that suggests that in …

Vol.34 N.41 March 1st 2007, Brown Publishing Company

Black Voice News

No abstract provided.

The False Claims Act And Corporate Criminal Liability: Qui Tam Actions, Corporate Integrity Agreements And The Overlap Of Criminal And Civil Law, Sharon Finegan

Penn State Law Review (2003 - Present)

No abstract provided.