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.

Comments

Published Version. Journal of Forensic and Investigative Accounting, Vol. 8, No. 1 (January-June, 2016): 120-139. Permalink. © E.J. Ourso School of Business and the Department of Accounting 2016. Used with permission.

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