White Collar Crime Control
WHAT IS OCCUPATIONAL CRIME?
Nonviolent, financially motivated crimes committed by high-level business and government executives for personal or organizational gain. Involves the deliberate, calculated misuse or misapplication of an organization's resources or assets. Typical occupational crimes: fraud, bribery, Ponzi schemes, insider trading, labor racketeering, embezzlement, cybercrime, money laundering, and forgery.
Illustrated: 23 critical components of crime deterrence, detection, and reporting requirements.
Provided: Over 100 checklists of essential information for use in crime prevention, early detection, and reporting.
Presents an example program that can be customized to the needs of a specific organization in compliance with Federal Guidelines.
Illustrates principles with concise, get-to-the-point case studies.
Covers deterrence and detection not only of financial fraud but of multiple occupational crimes.
WHAT IS A COMPLIANCE PROGRAM?
HOW TO PREVENT WHITE-COLLAR CRIME.
A compliance program is defined as a formalized approach that specifies an organizations policies, and procedures intended to prevent, deter and detect violations of laws and regulations. Primarily focused on internal fraud and white-collar crime.
Congress enacts the Sentencing Reform Act of the Comprehensive Crime Control Act of 1984. Through provisions of that Act Congress created an independent agency of the Federal judicial branch of government. That agency? United States Sentencing Commission.
The Original Commissions Charter was to develop a national set of U.S. Sentencing Guidelines for use by Federal criminal court judges in making sentencing decisions for convicted individuals. An employee's criminal act, even if committed within the course-and-scope of their employment, did not link to their employer. This caveat is going to change.
CHAPTER EIGHT- SENTENCING OF ORGANIZATIONS.
JAW-DROPPING MAJOR CHANGES!
In 1991, Chapter Eight, Sentencing of Organizations, was added to the United States Sentencing Commissions Charter. The law had changed! Organizations can now be criminally prosecuted arising out of the criminal act of an employee committed in the course-and-scope of their employment.
An organization's risks and exposures have significantly changed! Federal Sentencing Guidelines now cover a matrix of organizations:
1. governmental units
3. labor unions
5. Pension funds
6. Trusts, and non-profits. Medium and small-sized businesses are at highest risk.
FEDERAL CRIMINAL COURT SANCTIONS.
[Mitigate the risks.]
While an organization can't be sent to prison, under the Sentencing of Organizations Guidelines, they can be:
1. Heavily fined
2. Ordered to make restitution
3. Placed on probation
4. Forced to forfeit property
5. Suffer public and stakeholder recriminations
6. Forced to cease operations.
Fortunately, a means for an organization to mitigate the magnitude of those sanctions is provided. This provision is particularly relevant to organizations that function as ethical entities victimized by the actions of a rogue employee(s). This book will aid in the development of Business Liability Mitigation Strategies and Risk Mitigation Plans and Solutions.
HOW TO DEVELOP AN EFFECTIVE COMPLIANCE PROGRAM. 1
Chapter Eight describes the components of an Effective Compliance Program and offers incentives for the development of same. These incentives are called credits. Credits are awarded based upon the court's evaluation of the effectiveness of an organization's Compliance Program. The Seven Criteria outlined in Chapter Eight's Culpability Score are critical components of the evaluation process; management needs to know them. Each of the Seven Criteria is described in this tutorial.
While Compliance Programs are not mandated by law the incentive is there because the risk is there; an employee may act out. If an employee is convicted of a criminal act committed one that is in the course-and-scope of their employees an organization may be prosecuted.
If an organization is prosecuted and convicted, management is going to need a means of Mitigating Court Imposed Sanctions if charged and convicted. Incentive: Design, implement and manage an effective loss-crime-corruption prevention program, i.e., a Compliance Program that meets federal compliance criteria.
1. Creating A Compliance and Ethics Program from Scratch. Association of Corporate Counsel (ACC) Resource Library - ACC Document Jan 1, 2018. If not immediately accessed enter title in their "search site" tab.
DON'T MISS OUT.
[Reasons. Lessons. Facts. Strategies.]
Whether an organization is starting from scratch in developing their loss-prevention/compliance program or wish to benchmark an existing one against another framework, this tutorial is a must-have! Included is an analysis of:
1. The scope of corruption
2. Costs including business, societal and personal
3. Key definitions
4. Historical evolution of law and challenges
5. legal mandates
6. Guidance on a Programs design, implementation, and maintenance
7. And many more critical details
DON'T BECOME THE NEXT STATISTIC.
[Prepare for success.]
Learn how to mitigate workplace white-collar crime also known as occupational fraud and abuse. The information and guidance contained in this tutorial may prove to be invaluable to an organization in controlling real-world risks and vulnerabilities. In every organization, be it societal or governmental, abusive employee behavior and Occupational crime and fraud are a costly and legally complex issue. Medium and Small sized businesses are at highest risk because they don't always recognize the dangers. This issue demands management and leadership's full attention, Strategic planning, risk-management strategies, and various remedies if risks are to be eliminated efficiently or mitigated.
Publisher: CRC Press.
Check out the companion guidebook and tutorial: How to Develop a Corporate Compliance Program: Essential Elements.
"As an accountant in the security profession, (the author has) opened my eyes to areas I find relevant, currently topical and appropriate...captured my attention...aided me with understanding the impact occupational crime has on my staff, myself and the organization I am employed to support and protect. (The book) does a succinct job of outlining the problems, the costs, and the solutions...provides well-researched and practical support materials to assist the proactive security conscious individual with development of a security awareness/loss contingency program." Paul P. Donahue, CMA, CBM, ACFE
"A well-written eye opener, the subject of which is very timely and definitely needed in the current economic turmoil we are in. A 'must read' for all business management and auditors." Richard J. Kamentz, CIA