History 2190A/B Lecture 11: Lecture 11
18 Jan 2019
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Insider trading (securities fraud, hedge fund fraud, stock manipulation: computer, mail, or telephone fraud/scams, bribery, tax evasion, embezzlement, expense account fraud. In the usa fraud and other forms cost > billion a year: most fraud against companies hurts smaller businesses (average of 6% of annual revenue) In canada costs >billion a year / per family: estimated to increase cost of government by 20% or more, crime against individuals growing, estimated 1 in every 4 households victimized. These crimes are not as harmful to society as traditional crimes like murder, theft, robbery. These crimes are only about large companies and huge amounts of money. The crimes are out of character for offenders (they aren"t really criminals) General sense that these aren"t really crimes or criminals especially the smaller scale crimes. Under reported at a higher rate than many other crimes. Empowered whistleblowers gave a reward for reporting offences to government.
