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Embezzler
Embezzlement is a crime that consists of withholding assets for the purpose of conversion of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes. Embezzlement is a type of financial fraud. For example, a lawyer might embezzle funds from the trust accounts of their clients; a financial advisor might embezzle the funds of investors; and a husband or a wife might embezzle funds from a bank account jointly held with the spouse. The term "embezzlement" is often used in informal speech to mean theft of money, usually from an organization or company such as an employer. Embezzlement is usually a premeditated crime, performed methodically, with precautions that conceal the criminal conversion of the property, which occurs without the knowledge or consent of the affected person. Often it involves the trusted individual embezzling only a small proportion of the total of the funds or resources they receive or cont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misappropriation
In law, misappropriation is the unauthorized use of another's name, likeness, identity, property, discoveries, inventions, etc without that person's permission, resulting in harm to that person. Another use of the word refers to intentional and illegal use of property or funds; it can particularly refer to when done by a public official. Criminal law In criminal law, misappropriation is the intentional, illegal use of the property or funds of another person for one's own use or other unauthorized purpose, particularly by a public official, a trustee of a trust, an executor or administrator of a deceased person's estate or by any person with a responsibility to care for and protect another's assets (a fiduciary duty). Depending upon the jurisdiction and value of the property, misappropriation may be a felony, a crime punishable by a prison sentence. Scientific research In scientific research, misappropriation is a type of research misconduct. An investigator, scholar or rev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Larceny
Larceny is a crime involving the unlawful taking or theft of the personal property of another person or business. It was an offence under the common law of England and became an offence in jurisdictions which incorporated the common law of England into their own law (also statutory law), where in many cases it remains in force. The crime of larceny has been abolished in England, Wales, Ireland, and Northern Ireland, broken up into the specific crimes of burglary, robbery, fraud, theft, and related crimes. However, larceny remains an offence in parts of the United States, Jersey, and in New South Wales, Australia, involving the taking (caption) and carrying away (asportation) of personal property without the owner's consent. Etymology The word "larceny" is a late Middle English word, from the Anglo-Norman word ''larcin'', "theft". Its probable Latin root is ''latrocinium'', a derivative of ''latro'', "robber" (originally mercenary). By nation Australia New South Wales In the s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crime
In ordinary language, a crime is an unlawful act punishable by a state or other authority. The term ''crime'' does not, in modern criminal law, have any simple and universally accepted definition,Farmer, Lindsay: "Crime, definitions of", in Cane and Conoghan (editors), '' The New Oxford Companion to Law'', Oxford University Press, 2008 (), p. 263Google Books). though statutory definitions have been provided for certain purposes. The most popular view is that crime is a category created by law; in other words, something is a crime if declared as such by the relevant and applicable law. One proposed definition is that a crime or offence (or criminal offence) is an act harmful not only to some individual but also to a community, society, or the state ("a public wrong"). Such acts are forbidden and punishable by law. The notion that acts such as murder, rape, and theft are to be prohibited exists worldwide. What precisely is a criminal offence is defined by the criminal law o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Economy
Political economy is the study of how economic systems (e.g. markets and national economies) and political systems (e.g. law, institutions, government) are linked. Widely studied phenomena within the discipline are systems such as labour markets and financial markets, as well as phenomena such as growth, distribution, inequality, and trade, and how these are shaped by institutions, laws, and government policy. Originating in the 16th century, it is the precursor to the modern discipline of economics. Political economy in its modern form is considered an interdisciplinary field, drawing on theory from both political science and modern economics. Political economy originated within 16th century western moral philosophy, with theoretical works exploring the administration of states' wealth; "political" signifying the Greek word '' polity'' and "economy" signifying the Greek word '; household management. The earliest works of political economy are usually attributed to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Larceny Act 1916
The Larceny Act 1916 was an Act of the Parliament of the United Kingdom. Its purpose was to consolidate and simplify the law relating to larceny triable on indictment and to kindred offences. The definition of larceny for the purposes of the Act was "a person steals who, without the consent of the owner, fraudulently and without a claim of right made in good faith; takes and carries away anything capable of being stolen, with the intent at the time of such taking, permanently to deprive the owner thereof. Provided that a person may be guilty of stealing any such thing notwithstanding that he has lawful possession thereof, if, being a bailee or part owner thereof, he fraudulently converts the same to his own use or the use of any person other than the owner". Section 23 provided maximum penalties for a number of offences of robbery and aggravated robbery. Section 24 created the offence of sacrilege. Section 25 created the offence of burglary. Sections 29 to 31 related to black ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Separation Of Duties
Separation of duties (SoD), also known as segregation of duties is the concept of having more than one person required to complete a task. It is an administrative control used by organisations to prevent fraud, sabotage, theft, misuse of information, and other security compromises. In the political realm, it is known as the separation of powers, as can be seen in democracies where the government is separated into three independent branches: a legislature, an executive, and a judiciary. General description Separation of duties is a key concept of internal controls. Increased protection from fraud and errors must be balanced with the increased cost/effort required. In essence, SoD implements an appropriate level of checks and balances upon the activities of individuals. R. A. Botha and J. H. P. Eloff in the '' IBM Systems Journal'' describe SoD as follows. Separation of duty, as a security principle, has as its primary objective the prevention of fraud and errors. This objective ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Control
Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization. It is a means by which an organization's resources are directed, monitored, and measured. It plays an important role in detecting and preventing fraud and protecting the organization's resources, both physical (e.g., machinery and property) and intangible (e.g., reputation or intellectual property such as trademarks). At the organizational level, internal control objectives relate to the reliability of financial reporting, timely feedback on the achievement of operational or strategic goals, and compliance with laws and regulations. At the specific transaction level, internal controls refers to the actions taken to achieve a specific objective (e.g., ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Madoff Investment Scandal
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernie Madoff, the former NASDAQ chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme. Madoff founded Bernard L. Madoff Investment Securities LLC in 1960, and was its chairman until his arrest. The firm employed Madoff's brother Peter as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as rules and compliance officer and attorney, and Madoff's sons Mark and Andrew. Peter was sentenced to 10 years in prison, and Mark died by suicide exactly two years after his father's arrest. Alerted by his sons, federal authorities arrested Madoff on December 11, 2008. On March 12, 2009, Madoff pleaded guilty to 11 federal crimes and admitted to operating the largest private Ponzi scheme in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ponzi Scheme
A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own. Some of the first recorded incidents to meet the modern definition of the Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit". Howe offered a solely female clientele an 8% monthly interest rate and then stole the money that the wom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash Register
A cash register, sometimes called a till or automated money handling system, is a mechanical or electronic device for registering and calculating transactions at a point of sale. It is usually attached to a drawer for storing cash and other valuables. A modern cash register is usually attached to a printer that can print out receipts for record-keeping purposes. History An early mechanical cash register was invented by James Ritty and John Birch following the American Civil War. James was the owner of a saloon in Dayton, Ohio, US, and wanted to stop employees from pilfering his profits. The Ritty Model I was invented in 1879 after seeing a tool that counted the revolutions of the propeller on a steamship. With the help of James' brother John Ritty, they patented it in 1883. It was called ''Ritty's Incorruptible Cashier'' and it was invented to stop cashiers from pilfering and eliminate employee theft and embezzlement. Early mechanical registers were entirely mechanica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill (payment)
An invoice, bill or tab is a commercial document issued by a seller to a buyer relating to a sale transaction and indicating the products, quantities, and agreed-upon prices for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice. These may specify that the buyer has a maximum number of days to pay and is sometimes offered a discount if paid before the due date. The buyer could have already paid for the products or services listed on the invoice. To avoid confusion and consequent unnecessary communications from buyer to seller, some sellers clearly state in large and capital letters on an invoice whether it has already been paid. From a seller's point of view, an invoice is a ''sales invoice''. From a buyer's point of view, an invoice is a ''purchase invoice''. The document indicates the buyer and seller, but the term ''invoice'' indicates money is owed ''or'' owing. Within the European Union, an invoice is primarily lega ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vending Machine
A vending machine is an automated machine that provides items such as snacks, beverages, cigarettes, and lottery tickets to consumers after cash, a credit card, or other forms of payment are inserted into the machine or otherwise made. The first modern vending machines were developed in England in the early 1880s and dispensed postcards. Vending machines exist in many countries and, in more recent times, specialized vending machines that provide less common products compared to traditional vending machine items have been created. History The earliest known reference to a vending machine is in the work of Hero of Alexandria, an engineer, and mathematician in first-century Roman Egypt. His machine accepted a coin and then dispensed holy water. When the coin was deposited, it fell upon a pan attached to a lever. The lever opened a valve which let some water flow out. The pan continued to tilt with the weight of the coin until it fell off, at which point a counterweight snapped the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
