10. Bribery, Extortion, Fraud and other White Collar Crimes Flashcards
is the act of offering, giving, receiving, or soliciting something of value,
such as money, gifts, favors, orbenefits. It is typically done
to gain an unfair advantage or to obtain preferential treatment.
Bribery
Examples of Small Scale Bribery
- Traffic violation
- Government Services
- Law Enforcement
- Education
- Business Transactions
The _____, who offers or gives a bribe,
bears moral responsibility for their actions
briber
The _______, who demands or obtains something through coercion or threats, also bears moral responsibility for their actions
extortionist
refers to the abuse of entrusted power for personal gain or to gain an unfair advantage.
It involves dishonest or unethical behavior by individuals or institutions impositions of authority,
often for financial or personal benefits.
corruption
3 Categories of Corruption
(1) Petty corruption
(2) Grand corruption
(4) Political corruption
refers to non -violent, financially motivated illegal activities
committed by individuals or organizations in
professional or business settings.
White-collar crimes
refers to a situation where an individual or entity has competing interests or loyalties that could potentially compromise their ability to act impartially or make
objective decisions.
conflict of interest
Types of Fraud
(1) Diversion of company funds
(2) Theft of asset
(3) Granting inappropriate open credit
(4) Fraud connecting with bidding processes
(5) Misrepresentation of seismic data on the amount or quality of services
(6) Fraud in procurement and contracting
(7) Invoicing and payments fraud
(8) Deliberate non-performance
(9) Theft of stock in transit
(10) Computer fraud
(11) Credit card fraud
How to deal with Corruption? F.A.S.T.R.A.C.K
Flexibility
Alertness
Standing Firm
Transparency
Release of Creativity
Anticipation
Commitment
Knowledge
