Criminal minds: profiling architects of financial crimes

Ali, Shazeeda

doi:10.1108/jfc-11-2020-0221

Cited by 5 publications

(5 citation statements)

References 11 publications

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“…Their study is further supported by Beckerson et al's (2023) findings on adolescents' brain activity in moral cognition areas of the brain indicating changes occur more rapidly at this stage of life. Ali (2021) analyzed the personalities and behaviors and formal diagnoses of perpetrators of some of the largest financial crimes in the world since the mid-1900s. The study analyzed various personality disorders in perpetrators of financial crimes such as narcissistic personality disorder (NPD), anti-social personality disorder (ASPD), and addictive disorders as well as mental disorders such as Asperger syndrome (AS) and autism spectrum disorder (ASD).…”

Section: Moral Development and Cpsmentioning

confidence: 99%

Mitigating Financial Statement Fraud Perpetrated by Corporate Psychopaths

Busila

2024

JAF

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This paper proposes a fraud mitigation model that focuses on corporate psychopathy's impact on material misstatement of financial statements fraud. Prior research on psychopathy and corporate psychopaths has found that people with these tendencies do not possess the need to rationalize their behavior, therefore negating the rationalization point present in most prior fraud theory models. There is ample prior research on the impact of corporate psychopaths’ effect on corporate culture. There is also an abundance of prior research on fraud theory and how fraud is perpetrated. Drawing from existing research in these areas, this proposed fraud mitigation model identifies and addresses the elements present when corporate psychopaths perpetrate fraud. Board of directors will benefit from this study when they unknowingly hire leaders who exhibit corporate psychopathic traits that can impact financial reporting and internal controls procedures. Other stakeholders and the public interest may benefit from lower risk of financial statement fraud due to fewer corporate psychopaths in leadership positions perpetrating financial statement fraud.

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Section: Moral Development and Cpsmentioning

confidence: 99%

Mitigating Financial Statement Fraud Perpetrated by Corporate Psychopaths

Busila

2024

JAF

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“…Similarly, Elder Abuse Protection Unit (2020) report that most perpetrators rely on Centrelink income, categorising many of them as low income and/or unemployed. It is not uncommon that unconscionable behaviour is sometimes committed in response to a fundamental human need such as food and shelter (Ali, 2021).…”

Section: Elder Financial Abuse Risk Factorsmentioning

confidence: 99%

Abuse of enduring power of attorneys and real estate transactions in Australian courts

West

Drew²

2022

JFC

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Purpose The purpose of this study is to highlight how people acting as Enduring Power of Attorney (EPoA) abuse their privilege in relation to real estate transactions through analysis of five court cases. This study thereby provides insight into how and why adult children cross the line into the realm of misconduct. Design/methodology/approach The approach involved a review of various court proceedings relating to elder financial abuse, and the synthesis of the important facts and judgements made that constitute unconscionable conduct, undue influence and passive acceptance of benefit. The cases selected focus on real estate transactions. Findings The research revealed some key commonalities and that property and living arrangements are the issues highly contested in courts for small estates. Practical implications The case review provides some critical findings that are valuable for wealth management professionals or managing an ageing person’s care and living arrangements. It provides practical insights for the importance of independent legal and financial advice when entering real estate transactions. The findings also inform real estate agent practice in helping to reduce elder financial abuse through robust checks if an Attorney is acting on behalf of a Principal. The authors also support improving EPoA guidance and professionalization to assist Attorney’s to carry out their duties with appropriate care. Originality/value A review of cases relating to EPoA in relation to real estate is novel and makes an important contribution to developing resources to educate Attorney’s and financial service professionals, including real estate agents.

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“…The classic type of embezzler can display a range of different motivations, such as economic, egotistic, ideological and psychotic ones (Ali, 2021; Nuswantara and Maulidi, 2020; Maulidi, 2020; Shaw and Bologna, 2000; Pedneault, 2010; Walden, 2014; Vousinas, 2019). In addition, embezzlers can act alone, or as a group (Ali, 2021; Nuswantara and Maulidi, 2020; Maulidi, 2020; Shaw and Bologna, 2000; Pedneault, 2010; Walden, 2014; Vousinas, 2019). As noted above, although potential embezzlers might be a minority, the fact of the matter is that they exist.…”

Section: Embezzler Test For Standards Norms and Regulationsmentioning

confidence: 99%

“…Nonetheless, the occurrence of embezzlement is difficult to predict with certainty (Dittenhofer, 1995; Walden, 2014; Shaw and Bologna, 2000, p. 11; Everett et al , 2007; Pedneault, 2010; Rezaee, 2005). The classic type of embezzler can display a range of different motivations, such as economic, egotistic, ideological and psychotic ones (Ali, 2021; Nuswantara and Maulidi, 2020; Maulidi, 2020; Shaw and Bologna, 2000; Pedneault, 2010; Walden, 2014; Vousinas, 2019). In addition, embezzlers can act alone, or as a group (Ali, 2021; Nuswantara and Maulidi, 2020; Maulidi, 2020; Shaw and Bologna, 2000; Pedneault, 2010; Walden, 2014; Vousinas, 2019).…”

Section: Embezzler Test For Standards Norms and Regulationsmentioning

confidence: 99%

“…Not by any means are we suggesting that every insider of an organization is a potential embezzler, as, in reality, only a minority of people may undertake such practices. However, such people do exist (Ali, 2021; Attanasi et al , 2019; Dittenhofer, 1995; Dodge, 2007; Greve et al , 2010; Gullkvist and Jokipii, 2013; Lindquist and Goldberg, 2009; NMakowsky and Wang, 2018; Nuswantara and Maulidi, 2020; Ozili, 2020; Pedneault, 2010; Walden, 2014; Zhong and Robinson, 2020). Furthermore, in complex entities such as large organizations, embezzlement might not merely result from individual decisions by some organizational insiders who are in charge, such as, for example, an executive.…”

Section: Introductionmentioning

confidence: 99%

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An embezzler test for norms, standards and regulations

Cardao-Pito

2021

JFC

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Purpose The purpose of this study is to address the question that economic standards, norms and regulations can possess weak spots that might be exploitable for the embezzlement of an organization’s assets with resultant material consequences in money laundering,tax evasion, fraud, corruption and other potential financial crimes. Design/methodology/approach The author’s methodological approach is to introduce and discuss a new logical-deductive test that the author names “embezzler test”. The author’s test investigates regulatory architectures from the perspective of someone attempting to divert assets from or to an organization. It appraises whether a potential embezzler could divert resources without being detected and sanctioned. Findings The embezzler test can be applied to a broad range of standards, norms and regulations. Research limitations/implications This new test can be improved and further calibrated in future research. Practical implications Researchers, regulators and law makers can use the new test to identify and eventually fix weak spots for embezzlement in norms, standards and regulations. Originality/value To the best of the author’s knowledge, such a test has never been formulated or applied before to identify weak spots for potential embezzlement in regulatory architectures.

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Criminal minds: profiling architects of financial crimes

Cited by 5 publications

References 11 publications

Mitigating Financial Statement Fraud Perpetrated by Corporate Psychopaths

Mitigating Financial Statement Fraud Perpetrated by Corporate Psychopaths

Abuse of enduring power of attorneys and real estate transactions in Australian courts

An embezzler test for norms, standards and regulations

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