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Criminal Justice Resources :

White Collar Crime and Fraud


Web Sites | Articles and Publications

 

White Collar Crime entry from Wikipedia.


White Collar Crime via the Encyclopedia of Crime and Punishment, Vol. 1, 2002.
Includes commentary on a variety of topics such as: Healthcare Fraud, Government Fraud, Financial Institution Fraud, Frank W. Abagnale, Telemarketing Fraud, Insurance Fraud, Bankruptcy Fraud, Securities Fraud, Securities Regulation, and Corporate Fraud.


Fraud is the crime or offense of deliberately deceiving another in order to damage them -- usually, to obtain property or services from him unjustly. Fraud can be committed through many methods, including mail, wire, phone, and the Internet. Visit the Fraud entry from Wikipedia for more information.


Participants in the 2006 Association of Certified Fraud Examiners (ACFE) Report to the Nation on Occupational Fraud and Abuse survey estimated that 5 percent of annual revenues was lost due to fraud. Applying this 5 percent to the estimated 2006 U.S. Gross Domestic Product would translate to approximately $652 billion in fraud losses. Other findings include:


The Dirty Little Secret of Store Returns : Don't be surprised if you try to return something to your favorite store and the cashier politely says, "Return declined!" If you hear those words, you'll know you're on the store's electronic blacklist. You may have loved the way those pants looked in the store, but once you got home, you realized they just didn't fit. You may be stuck. The newest retail trend is to use special electronic systems to track the number of times and the dates specific customers make a return or exchange, as well as the dollar value of those items, and then determine based on that information if the customer is allowed to make another return.

Retailers who use the system, which currently includes KB Toys, Express clothing stores, and Sports Authority among others, say it will not only catch shoplifters, but also nab those who "wardrobe"--buy something, wear it once or twice, and then return it for a full refund. The stores have a name for excessive returns: fraud. And fraud is a major drain on business. In 2003, retailers lost nearly $30 billion to various types of fraud; about half of this may be related to bad returns, according to Richard Hollinger, a professor of criminology at the University of Florida in Gainesville. Source: Washington Post, Nov. 7, 2004.



Web Sites

Abuse of Power by Corporate and Governmental Elites
http://www.paulsjusticepage.com/elite-deviance.htm
Criminology and Criminal Justice focus on crimes on the streets and give passing mention to crimes in the suites, even though all the research indicates that white collar crimes cost far more than street crime. Unfortunately, the government collects almost no data on the toll taken by corporate crimes, even though there are annual reports on street crime from the FBI and the National Crime Victimization Survey. There's enough of it, though, that Fortune magazine had a cover story: Send Them To Jail [3/13/2002] - "They lie; they cheat; they steal and they've been getting away with it for too long." Rather than go to jail, corporations sponsored tough on crime laws that help a variety of industries from private prisons to telephone companies to construction and prison supply. Three strikes does not apply to corporate 'citizens' who continue to be called before Congress to testify, while convicted felons loose their right to vote. Corporate tax breaks and subsidies are not considered 'welfare' or even 'aid to dependent corporations.' Further, corporate crime isn't covered on TV news, reinforcing the idea that street crime is the only serious crime worth mentioning. Paul Leighton, Eastern Michigan University.
(Last checked 08/04/15)

The Anti-Counterfeiting and Product Protection Program (A-CAPPP)
http://www.a-cappp.msu.edu/
The first and preeminent academic body focusing upon the complex global issues of anti-counterfeiting and product protection of all products, across all industries, in all markets and strategies to work effectively to detect, deter, and respond to the crime. The counterfeit food industry is worth about $49 billion a year, according to the World Customs Institute, and it involves everything from fine food to boxed fruit juice. "Products are moving around the world so fast now that there is just ample opportunity," says John Spink, a food-fraud expert at Michigan State University. "And the demand for inexpensive food virtually guarantees that the problem will persist and grow." With that reality in mind, MSU has launched the Anti-Counterfeiting and Product Protection Program (ACAPPP). The first program of its kind, ACAPPP will employ a range of experts, from food safety and criminal justice to international business and engineering, to develop an international hub for anti-counterfeiting strategies. Source: "The Fade Food Detectives". Article by Jeneen Interlandi appearing in Newsweek Online, February 8, 2010.
(Last checked 08/04/15)

Coalition Against Insurance Fraud
http://www.insurancefraud.org/
The United States' only anti-fraud watchdog that speaks for consumers, insurance companies, legislators, regulators and others.
(Last checked 08/04/15)

Coalition Against Insurance Fraud
Insurance Fraud Hall of Shame
http://www.insurancefraud.org/hallofshame.htm
(Last checked 08/04/15)

Commodity Futures Trading Commission
http://www.cftc.gov/cftc/cftchome.htm
The agency protects market participants against manipulation, abusive trade practices and fraud.
(Last checked 08/04/15)

Communications Fraud Control Association
http://www.cfca.org/
CFCA is a not-for-profit global educational association working to help combat communications fraud.
(Last checked 08/04/15)

Corporate Crime Reporter
http://www.corporatecrimereporter.com/
Provides highlights from a legal newsletter.
(Last checked 08/04/15)

Crimes of Persuasion: Schemes, Scams, Frauds
http://www.crimes-of-persuasion.com/
"In-depth fraud coverage" of crimes based on conning people, such as pyramid schemes, bank fraud, Internet fraud, phone scams, chain letters, computer fraud, credit card fraud, money laundering, and telemarketing fraud.
(Last checked 08/04/15)

Financial Scandals
http://www.ex.ac.uk/~RDavies/arian/scandals/
Roy Davies, a librarian at University of Exeter, United Kingdom, has put together an impressive collection of links relating to financial scandals. The links are divided into Classic Financial Scandals, Political Corruption, Organized Crime (Mafia and Yakuza), Money Laundering, and Regulatory Organizations. Recent scandals such as BCCI, Barings, Sumitomo and Bre-X are covered. Source: Scout Report for Business and Economics, February 26, 1998.
(Last checked 08/04/15)

Internet ScamBusters Ezine
http://www.scambusters.org/
A free electronic newsletter (zine) to help you protect yourself from Internet scams, misinformation and hype. Web site has information on how to subscribe as well as selections from back issues.
Also listed under Cybercrime.
(Last checked 08/04/15)

IRS Tax Fraud Alerts
http://www.irs.gov/compliance/enforcement/article/0,,id=121259,00.html
"If it sounds too good to be true, it probably is!" Seek expert advice before you subscribe to any scheme that offers instant wealth or exemption from your obligation as a United States Citizen to pay taxes. Buying into a tax evasion scheme can be very costly. From the U.S. Internal Revenue Service (IRS) Criminal Investigation unit.
(Last checked 08/04/15)

National Fraud Information Center
Internet Fraud Watch Site
http://www.fraud.org/
Created by the National Consumers League to counter telemarketing and Internet fraud, the National Fraud Information Center (NFIC) web site offers tips for consumers to avoid common telemarketing and Internet fraud. The site also provides a list of the most popular telemarketing scams. There is also a special section with tips to help the elderly avoid fraud. At the site, visitors may submit questions and report suspected cases of fraud.
Also listed under Cybercrime.
(Last checked 08/04/15)

National White Collar Crime Center
http://www.nw3c.org/
The National White Collar Crime Center (NW3C) provides support services to state and local law enforcement for the prevention, investigation, and prosecution of high-tech and economic crime.
Also listed under Cybercrime.
(Last checked 08/04/15)

Nigeria: the 419 Coalition Site
http://home.rica.net/alphae/419coal/
(Last checked 08/04/15)

Pyramid Scheme Alert
http://www.pyramidschemealert.org/
The first international organization to expose, study and prevent illegal pyramid schemes.
(Last checked 08/04/15)

Quatloos!: Scams and Frauds Exposed Blog
http://quatloosia.blogspot.com/
"This website seeks to educate you about certain types of financial frauds, how these deals really work, and how you can manage your risk of financial fraud." Banking, insurance, tax, and off-shore, and multi-level marketing scams are discussed. The Cyber-Museum has documents related to tax protester cases, the Nigerian Scam, and the Omega Trust and Trading bank debenture scam. There is also information on how to report suspected frauds. Source: Librarians' Index to the Internet.
(Last checked 08/04/15)

White-Collar Crime Definition and Resources (Cornell University
https://www.law.cornell.edu/wex/white-collar_crime
Courtesy of Cornell's Legal Information Institute.
(Last checked 08/04/15)


Articles, Speeches, or Publications

2002 Association of Certified Fraud Examiners (ACFE) Report to the Nation
http://www.your-call.com.au/information/documents/CFE2002.pdf
Over half of the fraud in the survey produced losses in excess of $100,000 & one in six caused losses in excess of $1 million. The average loss in small companies costs $127,500. Average fraud operated for 18 months before detection. Most common method for detection "occupational" fraud was a tip from an employee, a customer, vendor or anonymous source. Fraud was detected by tips 41.1% of the time. Internal audit was the second most common method of detecting fraud at 18.6.% of the time.
(Last checked 08/04/15)

2004 Association of Certified Fraud Examiners (ACFE) Report to the Nation on Occupational Fraud and Abuse
http://www.your-call.com.au/information/documents/CFE2004.pdf
This study covers 508 cases of occupational fraud totaling over $761 million in losses. All information was provided by the Certified Fraud Examiners (CFEs) who investigated these cases. Occupational frauds in our study were much more likely to be detected by a tip than through other means such as internal audits, external audits, and internal controls. Among frauds committed by owners and executives, which tend to be the most costly, over half of all cases were identified by a tip. Confidential reporting mechanisms reduce fraud losses significantly. The median loss among organizations that had anonymous reporting mechanisms was $56,500. In organizations that did not have established reporting procedures, the median loss was more than twice as high. While Sarbanes-Oxley only requires publicly traded companies to establish confidential reporting mechanisms for employees, our data strongly suggests that these programs should also embrace third-party sources such as customers and vendors. Among cases that were detected by a tip, 60% of the tips came from employees, 20% of the tips came from customers, 16% came from vendors, and 13% came from anonymous sources.
(Last checked 08/04/15)

2006 Association of Certified Fraud Examiners (ACFE) Report to the Nation on Occupational Fraud and Abuse
http://www.your-call.com.au/information/documents/ACFE2006.pdf
This study is based on data compiled from 1,134 cases of occupational fraud that were investigated between January 2004 and January 2006. Information from each case was reported by a Certified Fraud Examiner who investigated the case. It found again that the most common method of fraud detection was by a tip. There were 479 organizations that had fraud hotlines or other anonymous reporting mechanisms at the time the frauds occurred, compared to 581 that did not. Organizations with hotlines had a median loss of $100,000 per scheme and detected their frauds within 15 months of inception. By contrast, organizations without hotlines suffered twice the median loss -- $200,000 -- and took 24 months to detect their frauds.
(Last checked 08/04/15)

Beanie Baby Scams and Identity Thefts
http://www.nytimes.com/library/tech/99/09/biztech/technology/22coop.html
There is a very large body of legitimate business and electronic commerce activity on the internet, but the web also is a location where one can easily fall victim to fraud and scams. A New York Times article discusses a number of swindling activities that are marketed either through websites or email messages. Online article by Michael Cooper from the September 22, 1999 issue of New York Times.
Also listed under Identity Theft.
(Last checked 08/04/15)

Business Fraud a Growing Issue
http://fleetowner.com/news/fleet_business_fraud_growing/index.html
Business fraud in the United States, including accounting abuses, embezzlement, and false disability claims, is having a huge impact on the nation's economy, according to several sources. The Association of Certified Fraud Examiners (ACFE) estimates that this year some 6% of total U.S. business revenues will be lost as a result of occupational fraud and abuse. When applied to the U.S. Gross Domestic Product, that translates into approximately $600 billion in losses annually, or $4,500 per employee, the group said. Article by Sean Kilcarr, Fleet Owner, July 10, 2002.
(Last checked 08/04/15)

Check and Card Fraud
http://www.popcenter.org/problems/pdfs/check_and_card_fraud.pdf
This document describes the problem of check and card fraud, and reviews factors that increase the risk of it. While there are some obvious differences between check and card fraud, the limitations and opportunities for fraud and its prevention and control by local police are similar enought to warrant addressing them together. Some cards, such as debt cards, are used and processed in a similar way to checks, and electronic checks are processed in a similar way to cards, so that traditional distinction between cards and checks is eroding.... Graeme R. Newman. Office of Community Oriented Policing Services, 2003. 80pp.
(Last checked 08/04/15)

Consumer Fraud in the United States : An FTC Survey
https://www.ftc.gov/reports/consumer-fraud-united-states-ftc-survey
A snap-shot of fraud in the U.S. based on a survey of 2,500 randomly selected adults who were interviewed about their consumer experiences during the previous year. The survey targeted 10 specific types of consumer fraud. From the Federal Trade Commission. August 2004, 170pp.
(Last checked 08/04/15)

Ernst & Young Global Fraud Survey 2003 (8th)
Also known as Fraud : The Unmanaged Risk
http://www.your-call.com.au/information/documents/EY8thGlobalSurvey2003.pdf
85% of all fraud committed internally or by those on the payroll. Notification by employees next most effective detection tool to internal controls.
(Last checked 08/04/15)

Ernst & Young Global Fraud Survey 2011 (11th)
http://www.ey.com/GL/en/Services/Assurance/Fraud-Investigation---Dispute-Services/11th-Global-Fraud-Survey---Driving-ethical-growth---new-markets--new-challenges
(Last checked 08/04/15)

Ernst & Young Global Fraud Survey 2012 (12th)
http://www.ey.com/GL/en/Services/Assurance/Fraud-Investigation---Dispute-Services/Global-Fraud-Survey---a-place-for-integrity
(Last checked 08/04/15)

Ernst & Young Global Fraud Survey 2014 (13th)
http://www.ey.com/GL/en/Services/Assurance/Fraud-Investigation---Dispute-Services/EY-reinforcing-the-commitment-to-ethical-growth
(Last checked 08/04/15)

FBI Financial Crimes Report to the Public
https://www.fbi.gov/stats-services/publications/financial-crimes-report-2010-2011
(Last checked 09/15/05)

Fighting Corporate and Government Wrongdoing:
A Research Guide to International and U.S. Federal Laws on White-Collar Crime and Corruption
http://www.llrx.com/features/whitecollarcrime.htm
Kumar Percy of U TX has created this guide which focuses on major sources of information about white-collar crimes and anti-corruption efforts. It includes online and print sources. Source: LLRX.com, Aug. 15, 2002.
(Last checked 08/04/15)

Financial Crimes Against the Elderly
http://www.popcenter.org/Problems/problem-financial_crimes.htm
This guide addresses the problem of financial crimes against the elderly. It begins by describing the problem and reviewing risk factors. It then identifies a series of questions to help you analyze your local problem. Finally, it reviews responses to the problem and describes the conditions under which they are most effective.
Financial crimes against the elderly fall under two general categories: fraud committed by strangers, and financial exploitation by relatives and caregivers. These categories sometimes overlap in terms of target selection and the means used to commit the crime. However, the differences in the offender-victim relationships suggest different methods for analyzing and responding to the problem. Courtesy of Kelly Dedel Johnson from the Center for Problem-Oriented Policing.
(Last checked 08/04/15)

Global Economic Crime Survey, 2005
http://www.pwc.com/extweb/pwcpublications.nsf/docid/e5f30d2c54ef8928802570f30036cd44/$file/pwc_2005_globalcrimesurvey.pdf
Global Economic Crime Survey, 2003 also available.
The page also provides access to reports organized by region and country. Based on over 3600 interviews in 50 countries, the PricewaterhouseCoopers global economic crime survey 2005 (in association with Wilmer, Cutler & Pickering) is one of the most comprehensive assessments of the effect of economic crime on business ever undertaken.
(Last checked 08/04/15)

Managing the Business Risk of Fraud
http://www.aicpa.org/download/news/2008/Managing_the_Business_Risk_of_Fraud.pdf
New guidelines for fighting fraud have been released jointly by three leading professional organizations. "Managing the Business Risk of Fraud: A Practical Guide" is sponsored by the Association of Certified Fraud Examiners (ACFE), the American Institute of Certified Public Accountants (AICPA), and The Institute of Internal Auditors (IIA). Principles for establishing effective fraud risk management, regardless of the type or size of an organization, are outlined in the guide.
The new guidance provides a practical approach for companies committed to preserving stakeholder value. It can be used to assess or improve an organization's fraud risk management program, or to develop an effective program where none exists.
Five key principles within the guidance address governance, risk assessment, fraud prevention and detection, investigation, and corrective action. Following the guidance will help ensure that there is suitable oversight of fraud risk management, that fraud exposures are identified and evaluated, that appropriate processes and procedures are in place to manage those exposures, and that fraud allegations are addressed in a timely manner. Source: American Institute of Certified Public Accountants.
(Last checked 08/04/15)

National White Collar Crime Center Resource Bookmarks
http://www.nw3c.org/services/research/resource-bookmarks
(Last checked 08/04/15)

Nigerian 4-1-9 Scam
http://www.quatloos.com/scams/nigerian.htm
(Last checked 08/04/15)

PricewaterhouseCoopers Global Economic Crime Survey 2014
Also known as Economic crime: People, culture and controls
http://www.pwc.com/extweb/home.nsf/docid/29CAE5B1F1D40EE38525736A007123FD
No industry is immune from the threat posed by economic crime although different sectors are impacted by different types of fraud.
(Last checked 08/04/15)

PricewaterhouseCoopers Global Economic Crime Survey 2005
http://www.pwc.com/extweb/pwcpublications.nsf/docid/e5f30d2c54ef8928802570f30036cd44/$file/pwc_2005_globalcrimesurvey.pdf
PricewaterhouseCoopers' third biennial Economic crime survey is based on interviews with more than 3,600 senior executives in 34 countries, and reveals their experiences with fraud, its causes and losses, their responses and recovery actions and the effectiveness of fraud prevention measures.
Key findings:

(Last checked 08/04/15)

The Problem of Check and Card Fraud
http://www.popcenter.org/Problems/problem-check-card-fraud.htm
This guide describes the problem of check and card fraud, and reviews factors that increase the risks of it. It then identifies a series of questions to help you analyze your local problem. Finally, it reviews responses to the problem, and what is known about them from evaluative research and police practice. Courtesy of Graeme R. Newman from the Center for Problem-Oriented Policing.
(Last checked 08/04/15)

Twenty Things You Should Know About Corporate Crime
http://www.corporatecrimereporter.com/twenty061207.htm
Source : 21 Corporate Crime Reporter 25, June 12, 2007
(Last checked 08/04/15)

For more information about swinders and swindling, See the MSU Libraries Online Catalog.

 

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Last revised 08/04/15

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