We develop a model of Ponzi schemes with asymmetric information to study Ponzi frauds. A long-lived agent offers to save on behalf of short-lived agents at a higher rate than they can earn themselves. The long-lived agent may genuinely have a superior savings technology, but may be an imposter...

The article "Cryptocurrency Regulation in the US and the Czech Republic: A Comparative Analysis of Enforcement and Effectiveness" examines the regulatory frameworks in both countries as they address the rising risks of fraud associated with crypto-assets like cryptocurrencies and Non-Fungible...

Our investigation examined the impact of ESG (Environmental, Social, and Governance) activities on corporate financial distress. This research utilised data from companies listed in the FTSE All-Share index from 2014 to 2022 from the Refinitiv EIKON database. We incorporated year- and...

Peer evaluation tournaments are common in academia, the arts, and corporate environments. They make use of the expert knowledge that academics or team members have in assessing their peers’ performance. However, rampant opportunities for cheating may throw a wrench in the process unless,...

We examine how cybercrime impacts victims' risk-taking and returns. The results from our difference-in-differences analysis of a sample of victim and matched non-victim investors on the Ethereum blockchain are in line with prospect theory and suggests that victims increase their long-term total...

This study analyzed specific characteristics of investment fraud victims. Logistic regressions on a national sample of retail investors revealed that overconfident and financially literate investors shared several characteristics with victims of investment fraud. While overconfident investors...

We aim to derive a fraud detection approach applicable to conditions where historical fraud data is absent, inadequate, or outdated for making predictions. To this end, we propose a new approach to fraud detection based on expert opinion, enabling tailored tools for various conditions of...

Verschuere et al. (2023) examine the effect of using the best available cue (use-the-best heuristic) on deception detection accuracy across 9 studies. In Study 8 they find that focusing on judging one single cue (detailedness) compared to multiple cues (four cues including detailedness, affect,...

The proliferation of cryptocurrency throughout society has led to widespread usage within criminal offending. Despite this, limited research has investigated fear of cryptocurrency-based victimization, or the role that financial or cryptocurrency literacy play in influencing such fears. This...

Fraud poses a significant threat to Nigeria's burgeoning digital economy, impacting sectors like finance, e-commerce, healthcare, and education. Traditional methods struggle to keep pace with evolving fraud schemes. This paper investigates the potential of Artificial Intelligence (AI) and...

This study used an emic approach to examine the dynamics of online romance fraud, focusing on the migration of offenders from Nigeria to Ghana. We collected data through qualitative methods, such as semi-structured interviews and focus group discussions. Ghanaian police officers and Nigerian law...

When paying with a payment instrument in fiat currency within the EU, the transaction is covered by the PSD2, which provides prudent protection for payers and their payment instruments. When the transaction is instead executed in bitcoin, an unbacked crypto-asset, the transaction is not covered...

The technological evolution has not only opened new frontiers but has also become an indispensable part of our daily lives. However, the technology that enhances our lives presents a dual reality-it offers opportunities for criminals while creating challenges for law enforcement. Fraud,...

This report first provides an overview of selected issues related to the coordination of social security systems within the EU. After discussing the principles of social security coordination, the following aspects are reviewed: the existing issues and available data on social security...

This report first provides an overview of selected issues related to the coordination of social security systems within the EU. After discussing the principles of social security coordination, the following aspects are reviewed: the existing issues and available data on social security...

Accounting fraud poses significant financial and reputational risks for organizations. Traditional detection methods - such as manual audits and red-flag indicators - struggle to keep pace with the growing volume and complexity of financial data. In contrast, artificial intelligence...

This study examines the relevance of the Fraud Pentagon Theory in detecting fraudulent financial reporting among companies listed on the Bucharest Stock Exchange. While financial reporting is essential for informed stakeholder decisions, requiring information to be accurate, reliable, and fairly...

This paper describes an affinity-based Ponzi scheme in Canada, the Oversea Chinese Fund Limited Partnership, created in 2001 by Weizhen Tang. Unlike simpler schemes, it adopted a complex structure involving multiple financial services firms and feeder funds in Canada and the US. Although the...

Drawing together extant literature this paper explores the anatomy of doorstep crime rogue trading, the motives of the offenders and identifies the criminal offences relevant to the response to this in-person fraud. An under-explored fraud typology in academia, the crime is often misunderstood...

This paper explores the positive governance effects of the Procuratorate's Public Interest Litigation System in China, which combines the powers of litigation and administrative supervision, on the quality of information disclosure by listed state-owned enterprises. We report several findings....

We prove a fundamental attribution error connecting rule-breaking behavior to entrepreneurs. We do so in the research context of the US, where we recently sampled from medium-sized venture entrepreneurs and their corporate executive peers (as an applicable reference point). We chose the US not...

The current review systematically synthesizes existing literature to provide a comprehensive overview of the nature of financial crimes in Africa and their impact on economic growth. We adopted the PRISMA protocol to identify 128 papers from the Scopus database; which were analyzed using MS...

Purpose of the article: The purpose of this article is to provide a comprehensive analysis of the role of artificial intelligence (AI) in the banking sector, focusing on its applications, challenges, and implications. By synthesizing existing research and empirical studies, the article aims to...

Missing Trader Intra-Community fraud (MTIC fraud) is a type of VAT fraud under which a fraudulent trader supplies goods and services to other businesses, collects the tax due on the supply from their customers, and disappears without ever remitting it to the tax authorities. This phenomenon...

There is strong evidence that corporate psychopaths - ruthless people who willingly engage in fraud and even enjoy outwitting and stealing from others - are a dominant force at senior levels in financial organizations. While corporate psychopathy has obvious implications for fraud and causes...

This paper is concerned with the everyday economic crimes of ordinary people. Although dishonesty is a core characteristic of these offences, we are not aware of any prior research that examines the direct, relationship between dishonest attitude and economic crime. Based on a survey of the...

Reporting victimization to the police or one's bank is a crucial step for victims of fraud, but many victims of fraud do not acknowledge their experiences as constituting victimization. The study examines whether acknowledgement influences odds of reporting fraud to police and banks. Findings...

Cyber-enabled fraud has transformed, becoming more complex and making it harder for targets and law enforcement to detect its occurrence. This study aims to recontextualize a major manifestation of this transformation, a crime called hybrid investment fraud, colloquially known as pig butchering....

This article examines how mortgage fraud is organised in the United Kingdom, what the crime-commissioning processes are for its occurrence and what exogenous conditions and influences support its existence and its capacity to reproduce. The article aims to extend understanding beyond the...

This article explores the novel and transformative role AI plays in enhancing corporate compliance and monitoring to mitigate corporate crime. It delves into how AI technologies, through advanced data analysis and predictive analytics, are revolutionizing the detection and prevention of...

Fraud is the most frequently experienced crime in the UK, yet significantly underreported. Despite its prevalence, understanding and addressing fraud remains challenging. This paper applies the interdisciplinary framework of 'wicked problems' to fraud, proposing a novel approach to categorise...

The qualitative research study examined the lived experiences of Online Romance Scam (ORS) victims in the United States (U.S.). Supported by interpretive phenomenological analysis, nineteen semi-structured online interviews were completed with victims of ORS. A semi-structured interview guide...

The strategies that online romance fraudsters employ may vary across different socioeconomic, cultural, and political contexts. Drawing on ethnographic interviews and observations of online romance fraudsters in Ghana, this paper develops a model that explains how African online romance...