Sunday, November 29, 2020

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Who was Charles Ponzi [Financial Crimes Profile]

Who Was Charles Ponzi Born in Parma, Italy, in 1883, Charles Ponzi’s early days are somewhat unknown. He claimed to have attended the University of Rome La Sapienza but never graduated. Ponzi arrived in Boston in November 1903 aboard the S.S....

What is Fraud

Fraud is the false misrepresentation of fact to gain dishonest advantage or gain unlawful benefit from a person or activities. Fraudulent activities may result in loss of money, property, legal right or any substance of value. The impact on fraud...

What is Corruption

The broad definition of corruption is the abuse or misuse of power by a person in power for private gains. Corruption is usually associated with people in public positions, for example; politicians, civil servants, government officials, police officers etc....

What is Bribery

Bribery is the practice of offering or receiving something such as money or goods with the intention of influencing an outcome or behaviour of the receiving party.  Bribery includes any form of favour in exchange for the desired outcome...

How to Launder Money

Over the last few decades, the funds involved in money laundering has continued to increase with the United Nations Office on Drugs and Crime (UNODC) estimating illegal funds from criminal proceeds amount to 3.6% of global GDP, with 2.7%...

What is Money Laundering

The concept of money laundering is as simple as hiding the source of wealth gained through illegal activities. Criminal activities such as drug trafficking, illegal arms sales, smuggling, embezzlement, insider trading, fraud and cybercrime are sources of illegal financial gains. The process of...

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