Chapter 12 Flashcards
bank fraud
to obtain money or property from a financial institution by false pretences, as by forgery or misrepresentation
bucketing
a form of stockbroker chiselling in which brokers skim customer trading profits by falsifying trade information
chiselling
regularly cheating an organization, its customers, or both
churning
a form of stockbroker chiselling involving repeated, excessive, and unnecessary buying and selling of stock
compliance strategies
fostering law conformity, cooperation, and self policing in the business community through the use of economic incentives and administrative agencies
Corporate crime
a legal offence, such as price-fixing, restraint of traade, or hazardous waste dumping, committed by a corporate entity to improve its market share or profitability
corporate culture view
the view that some business organizations promote white collar crime by maintaining a business climate that stresses profit over fairplay
Deterrence strategies
detecting criminal violations, determining who is responsible, and penalizing the offenders to deter future violations
front running
a form of stockbrokers chiselling in which brokers place personal orders ahead of a large customer’s order to profit from the market effects on the trade
insider trading
buying and selling securities based on business information derived from a position of trust and not available to the general public
La Cosa Nostra
A U.S. sydicate of 25 families or so Italian-dominated crime families who control crime in distinct geographic areas
Mafia
A criminal society that originated in Sicilly, Italy and is believed to control racketerring in the United States
organized crime
illegal activities of people and organizations whose acknowledged purpose is profit through illegitimate business enterprise
Pilferage
employee theft of company property
Price Fixing
A conspiracy to set and control the price of a necessary commodity
