Warning: "continue" targeting switch is equivalent to "break". Did you mean to use "continue 2"? in /home/afcmagaz/public_html/wp-content/plugins/revslider/includes/operations.class.php on line 2758

Warning: "continue" targeting switch is equivalent to "break". Did you mean to use "continue 2"? in /home/afcmagaz/public_html/wp-content/plugins/revslider/includes/operations.class.php on line 2762

Warning: "continue" targeting switch is equivalent to "break". Did you mean to use "continue 2"? in /home/afcmagaz/public_html/wp-content/plugins/revslider/includes/output.class.php on line 3689

Warning: Cannot modify header information - headers already sent by (output started at /home/afcmagaz/public_html/wp-content/plugins/revslider/includes/operations.class.php:2758) in /home/afcmagaz/public_html/wp-includes/feed-rss2.php on line 8
Corruption Archives - Anti Financial Crimes Magazine https://afcmagazine.com Accredited Financial Counselor Sat, 14 Nov 2020 17:52:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.1 Four Lesser Known Business Crimes https://afcmagazine.com/anti-corruption/four-lesser-known-business-crimes/ https://afcmagazine.com/anti-corruption/four-lesser-known-business-crimes/#comments Wed, 11 Nov 2020 17:29:53 +0000 https://afcmagazine.com/?p=931

When you talk about “white-collar crime”, the image that immediately pops up into an average person’s mind is that of the Enron case, or something else of similar stature. However, the fact of the matter is that there are other, lesser known business crimes also that have got the potential of impacting you—an average person—directly. […]

The post Four Lesser Known Business Crimes appeared first on Anti Financial Crimes Magazine.

]]>

When you talk about “white-collar crime”, the image that immediately pops up into an average person’s mind is that of the Enron case, or something else of similar stature. However, the fact of the matter is that there are other, lesser known business crimes also that have got the potential of impacting you—an average person—directly. These business crimes aren’t, necessarily, committed in the corporate world, and are a source of risk for everyone who has got money to give, worldwide.

Here are some of such lesser known business crimes that are perpetrated, both, in the business world and outside of it:

Kickbacks

Kickbacks are, perhaps, one of the most commonly committed business crimes. However, when you consider their frequent nature with their awareness among the masses, you have got to say that the scenario is of great surprise.

The public, in general, is either misinformed on what kickbacks refer to or are unaware of the concept completely. For those who are unaware, kickbacks refer to a kind of bribery that is negotiated between two parties. The basis of kickbacks lies in how they are considered as an act of cooperation rather than bribery.

What this means is that a certain amount of remuneration is decided, in advance,​ between the two parties.

What differentiates kickbacks from a majority of other kinds of business frauds is that the instances of kickbacks can be found at, almost, all levels of an organization. From an employee in charge of purchasing to a senior manager, people at a number of levels in an organization might be involved in receiving or giving kickbacks. This is the reason why organizations need to ensure that the instances of kickbacks are reduced, on all levels.

Telemarketing Fraud

Telemarketing frauds might appear to be a common form of business crimes on paper. However, when you consider all of the revolutions that have been taking place, over the course of time, you have to admit that not many everyday Joes can claim to know all there is to know about telemarketing frauds. In general, telemarketing frauds refer to fraudulent selling to individuals over the phone.

However, over the course of time, this simplistic model of telemarketing crimes has grown to encompass much more than you can imagine. For instance, the telemarketing frauds, nowadays, include kinds of advance fee fraud, security fraud and even charity fraud.

A form of telemarketing fraud that has been steeply growing in popularity, recently, is the timeshare fraud. Owners of timeshare are called to check if they are willing to sell, feeding them lies on how a buyer has been found. If they are willing to sell, then they are asked for an advance fee, up front, which they never get to see again in their lifetimes if they end up paying.

Regardless of how complicated and well-structured a telemarketing fraud might be, it is a fact that a majority of such frauds can be prevented if the victims simply ask for the contact details of the callers and have them verified online.

Jury Duty Fraud

The Jury Duty fraud is also a kind of scam that has been growing in popularity recently. The Jury Duty fraud involves the victims receiving calls from unknown callers, who identify themselves as officers of the court. These self-proclaimed “officers of the court” will then inform the victims that there is a warrant out for their arrests, owing to how they failed to report for jury duty. The replies that the victims give, under such a scenario, are likely to be, “I never received such a note”.

Taking advantage of their victims’ confusion and fear, the scammers ask them for some of their confidential information—birth date, credit card number, social security number or anything else that can be misused in the wrong hands—for verification purposes.

Owing to how the reason for the Jury Duty fraud is nothing else than the attainment of confidential information, it is imperative for the general public to know that the real representatives of the judicial office will NEVER ask for their confidential information over the telephone. So, if you find someone inquiring about your confidential information in such a manner, you need to hang up immediately. People need to be careful of such scammers and calls.

Pigeon Drop

If you ever see well-dressed individuals at your doorstep, offering to give you a bag of money that they happened to find on a sidewalk in exchange for an advance fee, then the chances are that you are a potential victim of a pigeon drop. In a pigeon drop scam, the perpetrators play the game of confidence with their targets (read: pigeons), by offering them a large sum of money in exchange for a smaller sum of money. However, once the “pigeon” has paid the advance fee, they do not receive anything in return, whatsoever.

Owing to the nature of the fraud, the well-dressed, professional looking scammers target elderly people, owing to how they offer minimal resistance. To avoid being a victim of the pigeon drop, people need to relearn the old, kindergarten lesson of not trusting every professional looking stranger who appears on your doorstep. It is common sense, isn’t it? Why would someone offer you a larger sum of money in exchange for a smaller one? Think for yourselves!

If you think about it, you realize that a majority of the frauds can be prevented if people learned to, simply, control a basic human weakness: greed. However, when you consider how we all wish to receive more than what we have worked for, it is safe to say that such a feat is easier said than done!

As an average individual, it is imperative for you to always keep your guard up. The business crimes and scams have become increasingly elaborate, nowadays, contributing directly to risk that everyday Joes face when it comes to the protection of their personal information, in particular.

The post Four Lesser Known Business Crimes appeared first on Anti Financial Crimes Magazine.

]]>
https://afcmagazine.com/anti-corruption/four-lesser-known-business-crimes/feed/ 9
Tax Revenue Growing Issues https://afcmagazine.com/anti-corruption/tax-revenue-growing-issues/ https://afcmagazine.com/anti-corruption/tax-revenue-growing-issues/#comments Fri, 31 Jan 2020 08:55:13 +0000 https://afcmagazine.com/?p=884

  Tax revenue is a strong indicator of a country’s economic growth. Tax revenue is increasingly becoming a global concern. The economic prosperity of developing countries is affected due to factors such as informal sectors and political or legislative corruption. In developed countries, the elite evade taxes by means of offshore accounts, as the recent […]

The post Tax Revenue Growing Issues appeared first on Anti Financial Crimes Magazine.

]]>

 

Tax revenue is a strong indicator of a country’s economic growth. Tax revenue is increasingly becoming a global concern. The economic prosperity of developing countries is affected due to factors such as informal sectors and political or legislative corruption.

In developed countries, the elite evade taxes by means of offshore accounts, as the recent scandalous Panama Papers proved, digital currencies and black markets. Tax evasion through illegal practices, including drug trade, trafficking and smuggling are typical of both developed countries (DCs) and less developed countries (LDCs).

In 2015, OECD estimates showed that loss of global income tax was around $240 billion, the effect of which trickled down to the developing countries.

Developing Countries

Studies show that the poor populations of developing countries are at the losing end of tax evasion. Since people work mostly in the informal sector, it is difficult for governments to acquire tax revenue. The governments rely mostly on commercial transactions and foreign direct investment for revenues.

A report by ActionAidrevealed that more than half of the investment in developing countries was generated from tax havens. Tax evaders get away due to gaps in information exchange between countries.

Tax Havens

The tax havens of the most prosperous nations entrap citizens of developing countries in a vicious cycle of poverty and hunger, even though LDCs have the capacity to counter poverty via public funds. By routing tax, both DCs and LDCs lose billions in tax revenue.

A case study showed that India forewent $2.2 billion in tax revenue, which was sufficient to subsidize snack for public school students per year, due to an offshore transaction.

A report by UN Economic Commissionshowed that African governments lose nearly $60 billion to tax evasion via illegal capital flows. Loss of tax revenue affects economic prosperity and sovereignty of poor nations.

Countries then rely on foreign aid and may be exploited for resources at the cost of citizens’ welfare and environment.

Low Level Voluntary Tax Compliance

Developing countries lack tax morale or willingness to paytaxes due to several factors. Citizens expect good-quality services and benefits for paying taxes. However, most of the revenue is lost due to administrative corruption and is invested abroad to transferred to personal accounts.

Citizens are unwilling to pay taxes when the government fails to provide them with public goods and serves adequately.

Secondly, high tax rates may induce tax avoidance or evasion. When tax burden increases, an individual’s disposable income falls. Taxpayers may perceive it as unfair and take advantage of loopholes to evade payment.

Thirdly, lack of accountability in tax institutions instills public distrust towards the government, which increases willingness to evade taxes.

Due to corrupt practices at institutional levels, citizens cannot determine whether their expenditures are being spent on public welfare or private monetary gains.

Informal sector

The informal sector in LDCs can be used synonymously to represent black markets, shadow or hidden underworld economies. The hidden economies comprise of all income-earning activities that are not legally regulated.

Since incomes from informal sector are not legally contracted, workers avoid paying taxes. Due to the size and scale of the informal sector in LDCs, there is no scope for growth and development from shadow economies.

The informal sector distorts a country’s unemployment, inflation and GDP growth rate. The state incurs budget deficits due to loss in revenue, causing further increase in tax rates.

The informal sector widen technological gap between the affected country and other countries. There is low productivity in informal sector and people earn low incomes. Workers of the informal sector are worse off than workers of the formal sector due to lack of public security, benefits and working conditions.

Citizens are provided with false information with respect to growth statistics. Informal sector workers have unfair advantage of exclusion from tax payments and social security contributions.

Statistics would provide misleading information about the state and public policies. This increases incentive for corruption in government offices.

Developed countries

 

Panama Papers and Paradise Papers

The papers revealed high-profile individuals across the world who transferred their incomes to offshore accounts or invested in property abroad. The law-firm Mossack Fonesca assisted the wealthy elite around the world to launder money and evade taxes.

The leaked documents showed evidence of notable political leaders and celebrities. Iceland’s Prime Minister Sigmund David resigned after his name showed up in the papers.

Paradise papers exposed more tax evasion schemes of high-ranking individuals and corporations. Names of over 100 prominent politicians from 50 countries appeared in the documents.

The documents expose how the wealthy elite used tax havens to hide their money from tax authorities.

Tax haven Giants

A new report by Tax Justice Network ranked Switzerland and United States as tax haven giants. The wealthy elite used US as loot wealth and avoid taxes. The US is currently home to 22 percent of the global offshore market.

The US financial giants hold secret information, which poor countries do not have access to. Due to loopholes in the financial operations, the elite of foreign nations easily take advantage to gain wealth. The secret information is manipulated to extract resources and withdraw wealth from developing nations.

There is a huge global industry of tax evasion that assists the elite in hoarding wealth illegally.

Cryptocurrencies

The recent scandals show that high-ranking individuals used e-commerce currencies to generate wealth and avoid taxes. Online transactions are handled anonymously and without  legislative regulations. Digital currencies operate without centralized authorities.

The nature of online transactions remains anonymous, which gives leverage to individuals for unlawful ways to increase wealth and evade taxes. Investments in cryptocurrency have increased doe to convenience of storing, transferring and handling transactions.

Buyers and seller don’t need to disclose personal information. There are no tangible resources required for operation or distributions because they could all be done online.

The IRS uncovered US wealth that had been hoarded in Swiss banks. The investigation shows that tax evaders used cryptocurrencies to hide wealth. Moreover, digital currencies are being used to cheat tax authorities and draw in money-launderers and other criminals.

Cryptocurrencies can be used in the same manner as foreign bank accounts to avoid taxes.

Since tax evasion is a development problem, countries need to collaborate on exchange of information and build capacity. Developing nations need resources to facilitate diplomatic dialogues with multinational corporations and foreign nations.

Governments should improve partnerships between regional tax organizations. Developing countries need to be helped to recognize their national capacity and improve resource mobilization.

The post Tax Revenue Growing Issues appeared first on Anti Financial Crimes Magazine.

]]>
https://afcmagazine.com/anti-corruption/tax-revenue-growing-issues/feed/ 60
How we are Currently Losing the Fight against Corruption https://afcmagazine.com/anti-corruption/how-we-are-currently-losing-the-fight-against-corruption/ https://afcmagazine.com/anti-corruption/how-we-are-currently-losing-the-fight-against-corruption/#comments Tue, 18 Jun 2019 13:14:33 +0000 https://afcmagazine.com/?p=834

Here’s how we are Currently Losing the Fight against Corruption! According to the Transparency International Corruption Perceptions Index report in 2017, 122 countries out of the 176 surveyed were considered “more corrupt” while the others were considered “less corrupt”. The former included many Latin American, African and Middle Eastern countries. In many places according to the […]

The post How we are Currently Losing the Fight against Corruption appeared first on Anti Financial Crimes Magazine.

]]>

Here’s how we are Currently Losing the Fight against Corruption! According to the Transparency International Corruption Perceptions Index report in 2017, 122 countries out of the 176 surveyed were considered “more corrupt” while the others were considered “less corrupt”. The former included many Latin American, African and Middle Eastern countries. In many places according to the report, corruption is getting worse over time, rather than better. They are ruled by dictators…

You must be logged in to view this content. If you don't have an account, Register Now.

The post How we are Currently Losing the Fight against Corruption appeared first on Anti Financial Crimes Magazine.

]]>
https://afcmagazine.com/anti-corruption/how-we-are-currently-losing-the-fight-against-corruption/feed/ 2231
Terrorism 2.0 and its implications https://afcmagazine.com/anti-corruption/terrorism-2-0-and-its-implications/ https://afcmagazine.com/anti-corruption/terrorism-2-0-and-its-implications/#comments Tue, 16 Apr 2019 11:38:08 +0000 https://afcmagazine.com/?p=826

Terrorism 2.0 and its implications; the purpose of this article is to explain how the Internet phenomenon has become one of the largest tools used by illicit actors and terrorists or affiliates. Retreating until June 2014, when the self-proclaimed Islamic State was announced, occupying initially more restricted areas in Iraq, notably in Mosul and a […]

The post Terrorism 2.0 and its implications appeared first on Anti Financial Crimes Magazine.

]]>

Terrorism 2.0 and its implications; the purpose of this article is to explain how the Internet phenomenon has become one of the largest tools used by illicit actors and terrorists or affiliates.

Retreating until June 2014, when the self-proclaimed Islamic State was announced, occupying initially more restricted areas in Iraq, notably in Mosul and a little later in Raqqa, we see that Islamic State has resorted to the use of social media for the spread of its propaganda and propagation of the daily operations carried out in various geographical areas. Since this date we have been accustomed to the dissemination of videos where not only the operations, but also the summary executions of foreigners held hostage by the Islamic State, were reported. At an early stage, their communications had a higher incidence on Facebook and Twitter, with special emphasis on the first phase on Facebook, with Twitter busy at the next stage, where most of the fighters would manage their accounts as better suited to them.

In its clear majority, this phase is dominated by the English fighters, with all their knowledge and experience in managing the networks, whether it be with the aim of radicalisation or the dissemination of the information to be disseminated. It is during this period that several government agencies are aware of the need to assign a component of cyber intelligence, to lock or intercept in real time what was being reported in fractions of seconds, whether it was in a sentiment analysis, semantics or introducing social network analysis.

During this phase, we have also seen the introduction of online radicalisation, acting as an autonomous and distinct process of a whole known assembly in the past, being something new and colliding with the regular activity carried out in the mosques.

For the first time, the world was receiving religious journals and the goal of carrying out the spread of the Jihadist propaganda, both about operations, and in the field of Islamic theology interpreted by the elements of Islamic State. This was the case for the introduction of the Dabiq magazine, which was presented every two months starting in June 2014, containing and constantly highlighting the attacks carried out by its fighters overseas. It was later replaced by Rumiyah, having both finished when the entire media production capacity of the Islamic State was destroyed.

During the first half of 2015 the first reported data disclosures of members of the various US forces was carried out by the cyber unit of the Islamic State, which was led by a British fighter who was later executed in Raqqa by coalition forces. By 2015 all the operations carried out by Islamic State fighters overseas were in their large majority coordinated by Central Command, which originated in Syria. This was the case with the preparation and implementation of the attacks in Paris in November 2015.

After this period, there is a total immersion for the use of new communication tools such as Dark web forums and Telegram, the latter being where most of the communication is disseminated.

Today we can see that even after the loss of the entire territory, the online spread continues to take great strides, with greater proactivity and efficiency in the management of the various channels used. We have been looking at the introduction of several different languages, as well as groups and channels, some of which allow for the full interaction of the various actors.

As can be seen, the weight of the Internet today is significantly greater than in the previous decade, and there is a very pressing need for preventive measures to be implemented to monitor the full spectrum of the communication.

The post Terrorism 2.0 and its implications appeared first on Anti Financial Crimes Magazine.

]]>
https://afcmagazine.com/anti-corruption/terrorism-2-0-and-its-implications/feed/ 2338
Scandals of Global-Panama Paper https://afcmagazine.com/anti-corruption/scandals-of-global-panama-paper/ https://afcmagazine.com/anti-corruption/scandals-of-global-panama-paper/#comments Sun, 02 Sep 2018 09:37:19 +0000 https://afcmagazine.com/?p=741

The campaign against tax evasion can only be fought on a global level. There also needs to be intense scrutiny about the ease with which financial capital can move around the world.

The post Scandals of Global-Panama Paper appeared first on Anti Financial Crimes Magazine.

]]>

Many scandals of global scale were unearthed in the year 2016, from bribery at FIFA to child abuse in the church. However, the story to have the biggest impact on the corporations, individuals as well as governments of many countries across the world was the Panama Papers.

These papers were a collection of more than 11 million legal documents that have information spanning over a period of about four decades. Panama papers were revelatory as they had detailed information regarding the ownership of more than 215,000 offshore businesses, their shareholders and directors.The names of these owners and shareholders included political leaders, parliamentarians, top bureaucrats, military personnel and even famous footballers and other celebrities.

The documents were from Mossack Fonseca, which was a law firm based in Panama, and it operated for its global clientele which included wealthy and elite and helped them to evade taxes and circumvent international sanctions. An anonymous source leaked the papers to the German newspaper Süddeutsche Zeitung back in August 2015, which then forwarded it to the U.S.-based nonprofit International Consortium of Investigative Journalists (ICIJ). Hundreds of journalists in more than 80 countries were subsequently provided with the documents, leading to the news breaking out in early April 2016.

Financial corruption has been going on for as long as businesses have existed; however, what’s different in the Panama Papers scandal is the scale of the operation; the revelation that elite and wealthy from all societies are involved in the scam and in many cases law makers and implementers, who were supposed to ensure that citizens of their countries dutifully follow the taxation and other legal orders, were also the ones hording money in offshore companies.

Furthermore, this was not an amateur operation involving smugglers who carry suitcases full of money into Switzerland. Among those who have acted as middlemen for the elite we find some of the largest banks in the world, such as HSBC, UBS, Societe Generale and Credit Suisse.

The involvement of banks and financial institutions to help the elite siphon money from their economies and channel them into private accounts has given a rise to the already existing concern that the international economic system of Capitalism could go through a tipping point, especially after the many knocks it had to face in the recent financial crisis of 2008. Capitalism’s pathway could be leading towards the situation of a crises caused by increasing inequality in the society and fragility of the economies of developing as well as developed nations.

The Panama Papers could help us understand the reasons behind the inefficiencies and failures of the economic system. Through the Panama scandal we clearly see that through loopholes in domestic taxation rules and disparities in international tax regimes, globalization has allowed individuals and corporations “the 1 percents” to freely move their capital and assets to tax havens while the majority of the population, mainly working class folks from third-world countries “the 99 percent”, are not allowed the same freedom.

Globalization, which was supposed to be about the freedom of movement for people, goods, and capital, turned out to be working mainly for rich people and large corporations, while the remaining populations is working as subjects for the elites. The result is global tax evasion, the off-shoring of labor, and elitethat flies 35,000 feet over the problems of nation states and the taxpayers within them.

Looking back at the post financial crises situation in the lateryears of 2000s, many countries across the world, and much surprisingly the North American and Western European nations which are often regarded as “rich and developed”, erupted with protests aiming to end the extreme inequalities. Many of these protests were termed under the umbrella of “Occupy Movement”, where protestors, often young and college graduated, took to streets. The phrase “1 percent vs. 99 percent” was popularizes in these occupy protest and were heard around the major capitalist cities of New York, London and Madrid including many others.

And to understand the relation better between the financial crises and the Panama Papers and the underlying economic structure which has enabled this polarization in the first place, we can take a look at the most high profile case of Panama saga, the Ex Prime Minister of Iceland, Sigmundur Davíð Gunnlaugsson. In the papers he was revealed to have owned a shell company, Wintris Inc. with his wife since 2007 on the tax haven of the British Virgin Islands, where he invested millions of dollars to avoid paying taxes.

The company held bonds worth millions of dollars in Iceland’s three biggest banks during the crisis of 2008. Although he initially rejected any claims of him owning Wintris he eventually had to resign following demonstrations from a large part of Icelandic population. Only through Panama Papers we came to know that the public money that was used to bail out banks after the crises was going into the private hands of politicians such as Mr. Gunnlaugsson and other influential policy makers in other countries.

What future does the international political and economic field holds? The popular sentiment is headed towards a re-evaluation of how the free-market system works and how it doesn’t work. The debate over free trade is also to be made part of the re-evaluation. The campaign against tax evasion can only be fought on a global level. There also needs to be intense scrutiny about the ease with which financial capital can move around the world. Otherwise we could well be on our way to Capitals next big crisis.

The post Scandals of Global-Panama Paper appeared first on Anti Financial Crimes Magazine.

]]>
https://afcmagazine.com/anti-corruption/scandals-of-global-panama-paper/feed/ 2464
Judges are Corrupt https://afcmagazine.com/anti-corruption/judges-are-corrupt-the-desire-to-exercise-power-trusting-the-system-think-twice/ https://afcmagazine.com/anti-corruption/judges-are-corrupt-the-desire-to-exercise-power-trusting-the-system-think-twice/#comments Fri, 20 Jul 2018 09:11:59 +0000 https://afcmagazine.com/?p=715

Kick out your attorney, keep your fingers crossed and lead your ship. Be careful before your attorney serves you to them, and enjoys eating you. As I see it, judicial corruption is dishonesty by a judge.  Corruption does not have to be economic in character.  A police officer who fabricates evidence against a person he […]

The post Judges are Corrupt appeared first on Anti Financial Crimes Magazine.

]]>

Kick out your attorney, keep your fingers crossed and lead your ship. Be careful before your attorney serves you to them, and enjoys eating you.

As I see it, judicial corruption is dishonesty by a judge.  Corruption does not have to be economic in character.  A police officer who fabricates evidence against a person he believes to be guilty of sexual abuse is not committing an economic crime; and he might do so because he believes the accused to be guilty, and does not want him to go unpunished.

Economics is not necessarily involved as an element of the officer’s crime or as a motivation. When police do wrong they are often motivated by a misplaced sense of justice, rather than by financial reward.  Again, a person in authority motivated by sadistic pleasure who abuses her/ his power by meting out cruel and unjust treatment to those subject to her/ his authority, is not engaging in an economic crime; and she/he is not motivated by economic considerations.  Judges and many of those who occupy positions of authority are motivated by a desire to exercise power for its own sake, rather than by a desire for financial reward.  That said, bribery is generally regarded as the most serious form of public corruption.

Corruption is the abuse of power by a public official for private gain or any organized, interdependent system in which part of the system is either not performing duties it was originally intended to, or performing them in an improper way, to the detriment of the system’s original purpose. The abuse of public offices for private gain is paradigmatic of corruption.

Judges regularly commit the crimes of obstruction of justice and perjury. They obstruct justice by using various techniques to render decisions and issue orders that are intended to deny justice. They do this to favor certain parties and law firms. They may do it for money or other considerations, or they may do it simply because they favor certain attorneys….

A common belief is that corruption is a judge taking bribes. The definition exceeds this theory. Corruption describes any organized, interdependent system in which part of the system is either not performing duties it was originally intended to, or performing them in an improper way, to the detriment of the system’s original purpose. Thus, corrupt judicial systems not only violate the basic right to equality before the law but deny procedural rights guaranteed by the Country’s Constitution.

Our purposes now, why they do it is not as important as the fact that they do obstruct justice. It is my opinion that a pattern and practice of this wrongdoing can establish the crime of obstruction of justice. 

You need to document everything that is improper.  It doesn’t matter how short your pencil is, a short pencil is better than strong memory “ meaning keep it documented “ , we all shall demand that corrupted judges; they all belong in prison. 

The post Judges are Corrupt appeared first on Anti Financial Crimes Magazine.

]]>
https://afcmagazine.com/anti-corruption/judges-are-corrupt-the-desire-to-exercise-power-trusting-the-system-think-twice/feed/ 2273
Entrepreneurs are the new victims of cyber criminals https://afcmagazine.com/anti-corruption/entrepreneurs-are-the-new-victims-of-cyber-criminals/ https://afcmagazine.com/anti-corruption/entrepreneurs-are-the-new-victims-of-cyber-criminals/#comments Wed, 02 May 2018 05:12:28 +0000 https://afcmagazine.com/?p=387

Cybercrimes have reached a new peak during the past decade. It is assumed that large businesses and corporations are more prone to these threats, since huge amount of cash and resources are involved. However, not everyone knows that entrepreneurs and small businesses are more vulnerable to cybercrimes.As per the Internet Security Threat report of 2017, […]

The post Entrepreneurs are the new victims of cyber criminals appeared first on Anti Financial Crimes Magazine.

]]>

Cybercrimes have reached a new peak during the past decade. It is assumed that large businesses and corporations are more prone to these threats, since huge amount of cash and resources are involved. However, not everyone knows that entrepreneurs and small businesses are more vulnerable to cybercrimes.As per the Internet Security Threat report of 2017, it’s estimated that 43% of cybercrimes target small businesses. Cybercrimes have increased mainly due to…

You must be logged in to view this content. If you don't have an account, Register Now.

The post Entrepreneurs are the new victims of cyber criminals appeared first on Anti Financial Crimes Magazine.

]]>
https://afcmagazine.com/anti-corruption/entrepreneurs-are-the-new-victims-of-cyber-criminals/feed/ 59
The Best Financial Crime Product and How to Use it https://afcmagazine.com/anti-money-laundering/the-best-financial-crime-product-and-how-to-use-it/ https://afcmagazine.com/anti-money-laundering/the-best-financial-crime-product-and-how-to-use-it/#comments Wed, 02 May 2018 05:12:28 +0000 https://afcmagazine.com/?p=369

The increase in frequency of financial crimes and the respective counter acts are taking a new turn. The financial industry is faced with challenges that are more advanced with more talented cyber crooks that are a threat to security breach. Banks and financial institutions – whether big or small – are prone to fraudulent activities […]

The post The Best Financial Crime Product and How to Use it appeared first on Anti Financial Crimes Magazine.

]]>

The increase in frequency of financial crimes and the respective counter acts are taking a new turn. The financial industry is faced with challenges that are more advanced with more talented cyber crooks that are a threat to security breach. Banks and financial institutions – whether big or small – are prone to fraudulent activities that can result in big losses. In the wake of multiple rigging scandals in the…

You must be logged in to view this content. If you don't have an account, Register Now.

The post The Best Financial Crime Product and How to Use it appeared first on Anti Financial Crimes Magazine.

]]>
https://afcmagazine.com/anti-money-laundering/the-best-financial-crime-product-and-how-to-use-it/feed/ 1
Vulnerability to Scams and How to Strengthen Against It https://afcmagazine.com/anti-fraud/vulnerability-to-scams-and-how-to-strengthen-against-it-2/ https://afcmagazine.com/anti-fraud/vulnerability-to-scams-and-how-to-strengthen-against-it-2/#comments Wed, 02 May 2018 05:12:28 +0000 https://afcmagazine.com/?p=418

Have you received an email or a letter that says you have won a million dollars? If yes, you are not alone. Researchers are working to find out what makes someone vulnerable to fall victim to scams. Around $40 to $50 billion are lost each year to consumer fraud. Recent studies are trying to find […]

The post Vulnerability to Scams and How to Strengthen Against It appeared first on Anti Financial Crimes Magazine.

]]>

Have you received an email or a letter that says you have won a million dollars? If yes, you are not alone. Researchers are working to find out what makes someone vulnerable to fall victim to scams. Around $40 to $50 billion are lost each year to consumer fraud. Recent studies are trying to find out who’s likely to become a victim and who is going to stay safe. Victims…

You must be logged in to view this content. If you don't have an account, Register Now.

The post Vulnerability to Scams and How to Strengthen Against It appeared first on Anti Financial Crimes Magazine.

]]>
https://afcmagazine.com/anti-fraud/vulnerability-to-scams-and-how-to-strengthen-against-it-2/feed/ 2
The Illegal Use Of Banks: Who Are The Real Culprits? https://afcmagazine.com/anti-fraud/the-illegal-use-of-banks-who-are-the-real-culprits/ https://afcmagazine.com/anti-fraud/the-illegal-use-of-banks-who-are-the-real-culprits/#comments Wed, 02 May 2018 05:12:28 +0000 https://afcmagazine.com/?p=401

Banks are often used for conducting illegal activities, and such crimes fall under the category of bank fraud. Any crime which is done internally with some officials involved is known as bank fraud. These frauds can be of many types. Bank frauds involve schemes to dodge the rules and regulations of the bank and the […]

The post The Illegal Use Of Banks: Who Are The Real Culprits? appeared first on Anti Financial Crimes Magazine.

]]>

Banks are often used for conducting illegal activities, and such crimes fall under the category of bank fraud. Any crime which is done internally with some officials involved is known as bank fraud. These frauds can be of many types. Bank frauds involve schemes to dodge the rules and regulations of the bank and the government system as opposed to bank robbery and theft. Banking fraud is a crime. Financial…

You must be logged in to view this content. If you don't have an account, Register Now.

The post The Illegal Use Of Banks: Who Are The Real Culprits? appeared first on Anti Financial Crimes Magazine.

]]>
https://afcmagazine.com/anti-fraud/the-illegal-use-of-banks-who-are-the-real-culprits/feed/ 32