Digital Commons Network^™

Crypto Kleptocracy, W. Robert Thomas, Jeffery Y. Zhang

Michigan Law Review Online

Many Americans are worrying about whether they will soon be living in a postdemocracy autocracy. But in the meantime, they may already be living in a crypto-fueled kleptocracy. Less than one year into his second presidential term, Donald Trump has reportedly taken his wealth to new heights by embracing, both as a businessman and a politician, the crypto industry. Trump’s family businesses are involved in minting Trump-themed meme coins, creating America- themed stablecoins, and mining crypto assets—so successfully that most of Trump’s wealth is likely now from crypto, not real estate. All the while, the Trump Administration is rolling back …

Criminal Activity Monitoring System: Targeting Africans And East Asian Communities In Dubai, Hamdan Kalantar

Theses

This dissertation investigates crime patterns among African and East Asian communities in Dubai, focusing on geographic hotspots, temporal trends, victim demographics, and the use of machine learning for predictive crime modeling. The research addresses the challenges faced by these communities, including labor exploitation, financial fraud, and human trafficking, within the socio-economic context of a rapidly growing urban city. Building on existing studies of urban crime, this research aimed to explore the spatial, temporal, and demographic dynamics of crimes and assess the potential of predictive models to assist law enforcement in crime prevention and resource allocation. A mixed-methods approach was employed, …

Do You Know How To Prevent Financial Fraud In Your Dental Practice?, Phil Nieto

Virginia Dental Journal

Financial fraud is a significant concern for dental practices, with an estimated 20%-60% of dentists affected over their careers. To prevent embezzlement, dentists should utilize the security functions of their practice management software, including setting high-level user permissions and audit logs. Daily checks on patient returns and weekly audits of financial consistency are crucial. Monitoring these areas can help detect and deter fraudulent activities, ensuring the financial health of the practice.

Decoding The Dynamics In Financial Fraud, Triana Eva Adiningsih

Jurnal Akuntansi dan Keuangan Indonesia

This empirical study examines fraud for the entire period and then compares it with the latest trends in the five years. This study utilizes extensive data sets to analyze specific aspects of fraud, including causes, types, solutions, and real-world cases. This study conducted a systematic literature review of relevant literature by taking data from Scopus-indexed journals. Vosviewer was used to identify events, and spreadsheet file information was grouped manually. Interestingly, the cheating types of ‘five-year statistics’ and ‘all-time statistics’ show slightly different frequencies. The main research topics focus on money laundering and financial crimes. To explore this further, this report …

Va Dent J January, February & March 2023

Virginia Dental Journal

In the January, February and March 2023 issue, the reader will find the following feature articles:

• An Interview with Dr. Richard Roadcap: Virginia Dental Journal Editor (2007 – 2023)
• Through the Looking Glass: The Fantastical World of Oral Pathology
• Treatment Access and Outcomes for Craniofacial Care: Patient and Parent Perspectives
• Cheiloscopy
• We’re Taking on the Fight tor Fairness and Transparency: We Need More Dentists to Join the Fight
• Serving the Petersburg Community: VDA Foundation Collaboration with Central Virginia Health Services

This issue includes regular columns with regional news impacting the Virginia membership including: editorial and perspectives columns, legal, association activities, …

Nidus Idearum. Scilogs, Xiv: Superhyperalgebra, Florentin Smarandache

Branch Mathematics and Statistics Faculty and Staff Publications

In this fourteenth book of scilogs – one may find topics on examples where neutrosophics works and others don’t, law of included infinitely-many-middles, decision making in games and real life through neutrosophic lens, sociology by neutrosophic methods, Smarandache multispace, algebraic structures using natural class of intervals, continuous linguistic set, cyclic neutrosophic graph, graph of neutrosophic triplet group , how to convert the crisp data to neutrosophic data, n-refined neutrosophic set ranking, adjoint of a square neutrosophic matrix, neutrosophic optimization, de-neutrosophication, the n-ary soft set relationship, hypersoft set, extending the hypergroupoid to the superhypergroupoid, alternative ranking, Dezert-Smarandache Theory (DSmT), reconciliation between …

Applications Of Fractional Supersaturated Process And Factor Analysis In The Systemic Risks Of Financial Fraud, Talal Abdulrahman Alanazi, Abdulmohsen O Alshammari

Journal of Statistics Applications & Probability

Fraud is defined as an act committed to deceive people and undermine their trust in financial institutions. The effects of fraud in government financial institutions, the private sector, and at the societal level show that it deeply feeds the economy. Objective. This study aims to shed light on the effects of financial fraud, measure its impact, and determine means to control it. Methods and Materials. This study considered a survey and a questionnaire was used to collect primary data. The total number of participants included in the questionnaire was 77. Two methods were used to search for the real effects …

It Takes A Thief…. And A Bank: Protecting Consumers From Fraud And Scams On P2p Payment Platforms, Cathy Lesser Mansfield

University of Michigan Journal of Law Reform

This Article proposes statutory and regulatory changes to the Electronic Fund Transfer Act; Regulation E; and the Bank Secrecy Act/Anti-Money Laundering regulations to protect consumers who use instant payment platforms in the United States (such as Zelle and Venmo) from scam artists and fraudsters. After discussing current fraud scams on these payment platforms, the Article discusses the history and context of the 1978 Electronic Fund Transfer Act and Regulation E, and the definition of unauthorized payments and payments made in error therein. The second part of this Article explores changes to the Bank Secrecy Act/Anti-Money Laundering regulations that might make …

Leveraging Maching Learning In Financial Fraud Forensics In The Age Of Cybersecurity, Md. Ariful Haque, Sachin Shetty

VMASC Publications

Financial sectors are lucrative cyber-attack targets because of their immediate financial gain. As a result, financial institutions face challenges in developing systems that can automatically identify security breaches and separate fraudulent transactions from legitimate transactions. Today, organizations widely use machine learning techniques to identify any fraudulent behavior in customers' transactions. However, machine learning techniques are often challenging because of financial institutions' confidentiality policy, leading to not sharing the customer transaction data. This chapter discusses some crucial challenges of handling cybersecurity and fraud in the financial industry and building machine learning-based models to address those challenges. The authors utilize an open-source …

Optimizing Whistleblowing, Usha Rodrigues

Scholarly Works

Whistleblowers have exposed misconduct in settings ranging from public health to national security. Whistleblowing thus consistently plays a vital role in safeguarding society. But how much whistleblowing is optimal? And how many meritless claims should we tolerate to reach that optimum? Surprisingly, legislators and scholars have overlooked these essential questions, a neglect that has resulted in undertheorized, stab-in-the-dark whistleblower regimes, risking both overdeterrence and underdeterrence.

This Article confronts the question of optimal whistleblowing in the context of financial fraud. Design choices, which play out along two axes, have profound effects on the successful implementation of whistleblowing policy. One axis varies …

Reimagining The Classroom Experience

Business Exchange

This article discusses innovative approaches to teaching business subjects, including using the principles of improvisational comedy to teach business leadership, using a game to help students learn to uncover financial fraud, and working in technology-enhanced classrooms.

The Verbal And Non-Verbal Indicators Of Deceit In Financial And Political Fraud: A Case Study Of Bernard L. Madoff, Chen Shui-Bien And Bo Xilai, Vivian Wu

Department of Conflict Resolution Studies Theses and Dissertations

From the earliest financial scams of the seventeenth century, through the headlinegrabbing Wall Street scandals of our time, financial fraud and embezzlement have damaged both domestic and global economic systems. Preventative measures are the best way to reduce fraud. Fraudsters are adaptive and will find ways to circumvent such measures. Detecting fraud is essential once the prevention mechanisms have failed. This dissertation investigated the inherent problems of financial fraud detection for high stake fraudsters in the corporate and political fields in the United States, China and Taiwan. Both verbal and non-verbal signs of deception were examined in the case studies …

Convenience Theory Of Cryptocurrency Crime: A Content Analysis Of U.S. Federal Court Decisions, Claire Nolasco Braaten, Michael S. Vaughn

Criminology and Criminal Justice Faculty Publications (Archived)

This article examines cryptocurrency cases decided in the U.S. District and Circuit Courts to determine the applicability of Gottschalk’s convenience theory of white collar crime to cryptocurrency crime litigation and to empirically analyze whether the conditions under which cryptocurrency offenses occurred show support for the convenience theory. Analysis of U.S. federal district and circuit court case law involving cryptocurrency crimes and fraud indicate support for the convenience theory of white-collar crime. Defendants in various schemes were motivated by financial gain, either for the company or for personal use. Their roles and positions in the businesses allowed them access to resources …

Conclusions For Poland In View Of The Special Report Of The European Court Of Auditors Concerning Fighting Financial Fraud In Spending Eu Funds, Eugeniusz Ruśkowski, Adam Piotr Chociej

European Management Studies

One of the essentials aims of the ECA’s special report on fighting fraud in spending EU funds is improving the correlation between the European Union law and national legal systems of Member States and developing cooperation of EU authorities with Member States in its implementation. The first part of the article describes the basic regulations of the EU law on fighting against financial fraud in spending EU budget funds. In the second part, the assessment of operations of the EU bodies (especially the European Commission) and suggested recommendations are presented. The example of Poland describes a diversified situation in the …

Ethics, Law Firms, And Legal Education, Milton C. Regan Jr.

Maine Law Review

A rash of recent corporate scandals has once again put professional ethics in the spotlight. It's hard to pick up the Wall Street Journal each day and not read that authorities have launched a new investigation or that additional indictments are imminent. Stories of financial fraud and outright looting have galvanized the public and shaken the economy. What ethical lessons can we draw from these events? Two explanations seem especially prominent. The first is a story of individuals without an adequate moral compass. Some people's greed and ambition were unchecked by any internal ethical constraints. For such deviants, no amount …

Relieving Pressure: Ethical Leadership's Never Ending Fight Against Fraud, Steven Schmitz

Celebration of Scholarship 2012-2017

The poster analyzes ethical leadership in the financial reporting profession through the interview of six professionals who have leadership experience in their careers. It reviews the "Fraud Triangle" and establishes ethical leaderships role in minimizing financial fraud. Auditors implement internal controls to decrease the number of opportunities, while ethical leaders relieve pressure on employees. The poster also lists ways company's can implement ethics into their own firms and positions.

Financial Fraud, Audit Risks, Inherent Risk, Detection Risk, Data Mining, Amer Mohammed Salman, Yahya Ali Kathem

Journal of Economics and Administrative Sciences

The study seeks to use one of the techniques (Data mining) a (Logic regression) on the inherited risk through the use of style financial ratios technical analysis and then apply for financial fraud indicators,Since higher scandals exposed companies and the failure of the audit process has shocked the community and affected the integrity of the auditor and the reason is financial fraud practiced by the companies and not to the discovery of the fraud by the auditor, and this fraud involves intentional act aimed to achieve personal and harm the interests of to others, and doing (administration, staff) we can …

The Fraud Under The Fair Value Exploratory Study, Hakeem Hammood Flayyih

Journal of Economics and Administrative Sciences

The research aim is to identify the concept of fair value and its measurement approaches, shed light on the concept of fraud and its forms, motives, as well as how to identify fraud under the fair value method. I have been using the program package SSPS statistical in the calculation of the research variables, and the research sample was a group of university professors and auditors working in the federal board of Supreme Audit. The researcher has reached some conclusions, the most important; the lack of conclusive evidence about management's intent in adopting the use of fair value raises several …

Nonverbal Cues Auditors Can Use To Detect Deceit, Brandon B. Buhler, Dr. W. Jeff Wilks

Journal of Undergraduate Research

Over the past few years, investors in Corporate America have witnessed a rise in financial fraud. With escalating frauds in the business world, investors are more determined to gain assurance from the auditors of the financial statements. The Sarbanes-Oxley Act of 2002 also increased legislative pressures on auditors to detect fraud.

Uncovering The Elusive Bottom Line Buster: An Analysis Of Business Corruption In Poland, Nathan A. Orien, Walter L. Whipple

Journal of Undergraduate Research

Financial fraud is damaging many businesses and destroying investor confidence in our capital markets, as witnessed by the long string of accounting scandals uncovered in the U.S. While some businesses, such as Enron, have suffered complete dissolution as a result of catastrophic management fraud, smaller forms of business corruption all take their toll in reducing a company’s profitability.

Cleaning Up The Financial Crisis Of 2008: Prosecutorial Discretion Or Prosecutorial Abdication?, Bradley T. Borden, David J. Reiss

Cornell Law Faculty Working Papers

When finance professionals play fast and loose, big problems result. Indeed, the 2008 Financial Crisis resulted from people in the real estate finance industry ignoring underwriting criteria for mortgages and structural finance products. That malfeasance filled the financial markets with mortgage-backed securities (MBS) that were worth a small fraction of the amount issuers represented to investors. It also loaded borrowers with liabilities that they never had a chance to satisfy.

Despite all the wrongdoing that caused the financial crisis, prosecutors have been slow to bring charges against individuals who originated bad loans, pooled bad mortgages, and sold bad MBS. Unfortunately, …

Lying And Getting Caught: An Empirical Study Of The Effect Of Securities Class Action Settlements On Targeted Firms, Lin (Lynn) Bai, James D. Cox, Randall S. Thomas

Faculty Articles and Other Publications

Private suits have long been championed as a necessary mechanism not only to compensate investors for harms they suffer from financial frauds but also to enhance the deterrence of wrongdoing. But many critics have claimed that there is a hidden dark side to the successful prosecution of a securities class action. In this paper, we shed light on these issues by examining whether the revelation of earlier misstatements, the initiation of private suit, and the payment of a substantial settlement, weaken the defendant firm so that the firm is permanently worse off as a consequence of the settlement.

We find …

The Correlation Between Financial Fraud And Economic Downturn, Karen Alyse Hyink

Theses

Throughout the 20th century, researchers studied financial fraud in order to better understand the factors, motives and environments that increase the occurrences of fraud. By studying these historical trends, modern governmental agencies and public organizations are able to more effectively detect and prevent financial fraud.

Economic climate directly influences the occurrence of fraud; specifically, it is during periods of economic downturn when organizations are more vulnerable to fraudulent attacks. While it has always been assumed that recessionary periods lead to an increase in fraudulent activities, the direct correlation between the two has been greatly understudied by researchers. This thesis is …

A Comparative Analysis Of Shareholder Protections In Italy And The United States: Parmalat As A Case Study, Lorenzo Segato

Northwestern Journal of International Law & Business

The goal of this article is to compare the protections offered to minority shareholders by the Italian system of corporate law with those offered by the U.S. legal system of corporate and securities law in order to determine if Parmalat's minority shareholders would have been better off had Parmalat been an American company listed in the U.S. financial market. This analysis will reveal several weaknesses in Italian corporate and securities laws, thereby providing a basis for suggestions on how to improve minority shareholders' rights in Italy based on the U.S. experience. Section II of this paper provides an overview of …

Finance Theory And Accounting Fraud: Fantastic Futures Versus Conservative Histories, Lawrence A. Cunningham

GW Law Faculty Publications & Other Works

Intellectual tension between the fields of finance and accounting may help to explain explosion of public company frauds. Finance theory diminishes the relevance of accounting information. Enron exploited this consequence while the SEC bought into it. After widespread frauds were exposed, Congress passed laws that address symptoms of finance's futurism, not disease. Laws essentially prohibit pro forma financial reporting and regulate the selective flow of futuristic information to financial analysts. Untouched is the underlying disease of regulatory mandates requiring extensive disclosure of forward-looking information. Until the 1970s, the SEC prudently prohibited such futuristic disclosure as inherently unreliable; assisted by finance …