Document Type
Article
Language
eng
Format of Original
20 p.
Publication Date
1-2016
Publisher
E.J. Ourso School of Business and the Department of Accounting
Source Publication
Journal of Forensic and Investigative Accounting
Source ISSN
2165-3755
Abstract
Conventional understandings of fraud are organized around the fraud triangle first developed in the 1950s by Cressey. This conceptual device remains central in our pedagogy and research on this especially timely topic. As long as fraud is imagined to be not much different than a stereotypical act by a single individual out of financial desperation and impulsiveness, the fraud triangle provides a reasonably powerful conceptual organization. However, when applied to abuses that occur in highly organized financial markets, its application takes on new meanings that push the boundaries of its usefulness. Using interviews with traders and other securities market participants, this paper concludes that the prospects for ill-gotten gain are much more systematic and the product of incomplete regulation.
Recommended Citation
Wall, Joseph and Fogarty, Timothy J., "Foxes in the Henhouse: An Exploratory Inquiry into Financial Markets Fraud" (2016). Accounting Faculty Research and Publications. 92.
https://epublications.marquette.edu/account_fac/92
Comments
Published Version. Journal of Forensic and Investigative Accounting, Vol. 8, No. 1 (January-June, 2016): 120-139. Permalink. © 2016 E.J. Ourso School of Business and the Department of Accounting. Used with permission.