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Skimming (fraud)
A form of white-collar crime, skimming is taking cash "off the top" of the daily receipts of a business (or from any cash transaction involving a third interested party) and officially reporting a lower total. The formal legal term is defalcation. Examples A skimming crime may be simple tax evasion: the owner of a business may fail to "ring up" a transaction and pocket the cash, thus converting a customer's payment directly to the owner's personal use without accounting for the profit, thereby the owner avoids paying either business or personal income taxes on it. A famous example of this crime occurred at Studio 54 discotheque, which was forced to close as a result. Skimming at casinos is associated with the funding of organized crime. In May 1963, the FBI turned over to the Justice Department a two-volume document called ''The Skimming Report'' which detailed skimming of gambling profits by Las Vegas casinos to avoid taxes. The report documented how pre-tax profits from ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
White-collar Crime
The term "white-collar crime" refers to financially motivated, nonviolent or non-directly violent crime committed by individuals, businesses and government professionals. It was first defined by the sociologist Edwin Sutherland in 1939 as "a crime committed by a person of respectability and high social status in the course of their occupation". Typical white-collar crimes could include wage theft, fraud, bribery, Ponzi schemes, insider trading, labor racketeering, embezzlement, cybercrime, copyright infringement, money laundering, identity theft, and forgery. White-collar crime overlaps with corporate crime. Definitional issues Modern criminology generally prefers to classify the type of crime and the topic: *By the type of offense, e.g., property crime, economic crime, and other corporate crimes like environmental and health and safety law violations. Some crime is only possible because of the identity of the offender, e.g., transnational money laundering requires the par ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Love And Honor In Las Vegas
Love encompasses a range of strong and positive emotional and mental states, from the most sublime virtue or good habit, the deepest interpersonal affection, to the simplest pleasure. An example of this range of meanings is that the love of a mother differs from the love of a spouse, which differs from the love for food. Most commonly, love refers to a feeling of a strong attraction and emotional attachment.''Oxford Illustrated American Dictionary'' (1998) Love is considered to be both positive and negative, with its virtue representing human kindness, compassion, and affection, as "the unselfish loyal and benevolent concern for the good of another" and its vice representing human moral flaw, akin to vanity, selfishness, amour-propre, and egotism, as potentially leading people into a type of mania, obsessiveness or codependency. It may also describe compassionate and affectionate actions towards other humans, one's self, or animals.Fromm, Erich; ''The Art of Lovi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Aid
In international relations, aid (also known as international aid, overseas aid, foreign aid, economic aid or foreign assistance) is – from the perspective of governments – a voluntary transfer of resources from one country to another. Aid may serve one or more functions: it may be given as a signal of diplomatic approval, or to strengthen a military ally, to reward a government for behavior desired by the donor, to extend the donor's cultural influence, to provide infrastructure needed by the donor for resource extraction from the recipient country, or to gain other kinds of commercial access. Countries may provide aid for further diplomatic reasons. Humanitarian and altruistic purposes are often reasons for foreign assistance. Aid may be given by individuals, private organizations, or governments. Standards delimiting exactly the types of transfers considered "aid" vary from country to country. For example, the United States government discontinued the reporting of mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kleptocracy
Kleptocracy (from Ancient Greek, Greek κλέπτης ''kléptēs'', "thief", κλέπτω ''kléptō'', "I steal", and -κρατία -''kratía'' from κράτος ''krátos'', "power, rule") is a government whose Corruption, corrupt leaders (kleptocrats) use Power (social and political), political power to expropriate the wealth of the people and land they govern, typically by embezzlement, embezzling or Misappropriation, misappropriating government funds at the expense of the wider population."Kleptocracy". ''The Oxford English Dictionary''. Oxford University Press. 1st ed. 1909. Thievocracy means literally the rule by thievery and is a term used synonymously to kleptocracy. One feature of political-based socioeconomic thievery is that there is often no public announcement explaining or apologizing for misappropriations, nor any legal charges or punishment levied against the offenders. Kleptocracy is different from plutocracy (rule by the richest) and oligarchy (rule by a sm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blackmailer
Blackmail is an act of coercion using the threat of revealing or publicizing either Substantial truth, substantially true or false information about a person or people unless certain demands are met. It is often damaging information, and it may be revealed to family members or associates rather than to the general public. These acts can also involve using threats of physical, mental or emotional harm, or of criminal prosecution, against the victim or someone close to the victim. It is normally carried out for personal gain, most commonly of position, money, or property. Blackmail may also be considered a form of extortion. Although the two are generally synonymous, extortion is the taking of personal property by threat of future harm. Blackmail is the use of threat to prevent another from engaging in a lawful occupation and writing libelous letters or letters that provoke a breach of the peace, as well as use of intimidation for purposes of collecting an unpaid debt. In many j ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan Shark
A loan shark is a person who offers loans at extremely high interest rates, has strict terms of collection upon failure, and generally operates outside the law. Description Because loan sharks operate mostly illegally, they cannot reasonably expect to be able to use the legal system to collect such debts, they often resort to enforcing repayment by terms of blackmail and threats of violence. Historically, many moneylenders skirted between legal and criminal activity. In the recent western world, loan sharks have been a prominent feature of the criminal underworld. Loan sharking is not to be confused with predatory lending with extremely high interest rates such as payday or title loans, which is sometimes considered to be "loan sharking" (or, at least, unfavorably compared to loan sharking by critics) regardless of whether it is legal. A key difference between "traditional" loan sharking and predatory lending is that lenders alleged to be engaged in the latter practice are e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protection Racket
A protection racket is a type of racket and a scheme of organized crime perpetrated by a potentially hazardous organized crime group that generally guarantees protection outside the sanction of the law to another entity or individual from violence, robbery, ransacking, arson, vandalism, and other such threats, in exchange for payments. The perpetrators of the racket may protect vulnerable targets from other dangerous individuals and groups or may simply offer to refrain from themselves carrying out attacks on the targets, and usually both of these forms of protection are implied in the racket. Due to the frequent implication that the racketeers may contribute to harming the target upon failure to pay, the protection racket is generally considered a form of extortion. In some instances, the main potential threat to the target may be caused by the same group that offers to solve it in return for payment, but that fact may sometimes be concealed in order to ensure continual patron ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kickback (bribery)
A kickback is a form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered. Generally speaking, the remuneration (money, goods, or services handed over) is negotiated ahead of time. The kickback varies from other kinds of bribes in that there is implied collusion between agents of the two parties, rather than one party extorting the bribe from the other.Wrage, Alexandra Addison. ''Bribery and Extortion: Undermining Business, Governments, and Security.'' Westport, Conn.: Praeger Security International, 2007. p. 14. The purpose of the kickback is usually to encourage the other party to cooperate in the scheme.Kranacher, Riley, and Wells, p. 387. The term "kickback" comes from colloquial English language, and describes the way a recipient of illegal gain "kicks back" a portion of it to another person for that person's assistance in obtaining it.Campos, p. 299. Types and methods The most common form of kickback involves a vendor s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bribe
Bribery is the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official, or other person, in charge of a public or legal duty. With regard to governmental operations, essentially, bribery is "Corrupt solicitation, acceptance, or transfer of value in exchange for official action." Gifts of money or other items of value which are otherwise available to everyone on an equivalent basis, and not for dishonest purposes, is not bribery. Offering a discount or a refund to all purchasers is a legal rebate and is not bribery. For example, it is legal for an employee of a Public Utilities Commission involved in electric rate regulation to accept a rebate on electric service that reduces their cost for electricity, when the rebate is available to other residential electric customers. However, giving a discount specifically to that employee to influence them to look favorably on the electric utility's rate increase applications would be conside ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Extortionist
Extortion is the practice of obtaining benefit through coercion. In most jurisdictions it is likely to constitute a criminal offence; the bulk of this article deals with such cases. Robbery is the simplest and most common form of extortion, although making unfounded threats in order to obtain an unfair business advantage is also a form of extortion. Extortion is sometimes called the "protection racket" because the racketeers often phrase their demands as payment for "protection" from (real or hypothetical) threats from unspecified other parties; though often, and almost always, such "protection" is simply abstinence of harm from the same party, and such is implied in the "protection" offer. Extortion is commonly practiced by organized crime. In some jurisdictions, actually obtaining the benefit is not required to commit the offense, and making a threat of violence which refers to a requirement of a payment of money or property to halt future violence is sufficient to commit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Satyam Scandal
The Satyam Computer Services scandal was India's largest corporate fraud until 2010. The founder and directors of India-based outsourcing company Satyam Computer Services, falsified the accounts, inflated the share price, and stole large sums from the company. Much of this was invested in property. The swindle was discovered in late 2008 when the Hyderabad property market collapsed, leaving a trail back to Satyam. The scandal was brought to light in 2009 when chairman Byrraju Ramalinga Raju confessed that the company's accounts had been falsified. History For many years Satyam accounts showed profits that had never existed, cash at the bank that did not exist, which inflated the share price. Raju and friends then sold shares. The accounts also showed $3m of "salary payments" to people who did not exist. These in fact went to board members. The falsified accounts were used to obtain cheap loans in the USA which were stolen by Raju and never entered into the accounts. M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Satyam Computer Services
Mahindra Satyam (formerly Satyam Computer Services Limited) was an Indian information technology (IT) services company based in Hyderabad, India, offering software development, system maintenance, packaged software integration and engineering design services. Satyam Computer Services was listed on the Pink Sheets, the National Stock Exchange and Bombay Stock Exchange and provided services to a wide range of customers including 185 Fortune 500 companies. In January 2009, the company's founder and chairman Ramalinga Raju admitted of inflating the company's assets by $1 billion, leading to criminal charges and a collapse of the company's stock price. This was known as Satyam Scandal. Mahindra Group's IT arm, Tech Mahindra, purchased a major stake in the company and in June 2009 the company renamed itself Mahindra Satyam. Mahindra Satyam merged with Tech Mahindra on 24 June 2013. History Satyam Computer Services was founded in 1987 and by 2008 earned revenues of over $2 billi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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