Financial crimes: the constant challenge of seeking effective prevention solutions
Purpose – Financial market‐related crimes seem to continually increase in number as well as in the amount of illicit profits. This emerging situation has obliged governments and self‐regulated bodies to act aggressively on the issue. This paper provides a snapshot of the evolution timeline of financial crimes and discussion in support of the fight against this plague.Design/methodology/approach – Based on financial crime literature and field work.Findings – Improvement in the expertise and degree of refinement employed by both organized crime and criminal businessmen.Research limitations/implications – Some information originates from confidential sources and consequently could not be further developed.Originality/value – Contemporary picture of the current situation. Some recommendations were submitted to regulatory authorities who are examining and adjusting their actions accordingly.
An offenderâ€™s perspective of what motivates and deters white-collar criminals in the South African workplace
The aim of this study was to investigate the motives of white-collar criminals so as to gain a better understanding of white-collar crime and develop measures that can help to reduce it. The study involved face-to-face interviews with white-collar offenders imprisoned at a correctional centre in South Africa. The data collected provided evidence to support the existing theory relating to the motives for white-collar crime; however, a previously unreported theme of race emerged as a key motivator among the respondents. Race was further identified as a key justification for committing the crime. Suggestions from the respondents to employment relations practitioners on how best to mitigate the risks were also collected and reported. The deterrents that were identified as most effective by the respondents revolved around four themes, namely reports and signing authority, working environment, education and matching roles and responsibilities.
White-collar crime : offenses in business, politics, and the professions
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