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Crime and the private sector (1)
 

Crime and the private sector (1)

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    Crime and the private sector (1) Crime and the private sector (1) Presentation Transcript

    •  
    • The Private Sector
      • The private sector is a sector of the economy
      • It is sometimes referred to as the citizen sector
      • It is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the state.
      • Businesses in the private sector include;
      • sole traders
      • Partnership, either limited or unlimited liability
      • Private Limited Company or LTD-limited liability, with private shares
      • Public Limited Company – shares are open to the public.
    • Common Crimes Committed within the Private Sector
      • Corporate crime refers to crime committed either by a corporation (i.e., a business that has a separate legal obligations from the people in charge) or by individuals that may work for a corporation or other business entity.
      • This often overlaps with -White collar crime -Organized Crime
      • Examples of corporate crime include
      • Fraud
      • bribery
      • insider trading
      • embezzlement
      • computer crime
      • copyright infringement
      • money laundering http://www.youtube.com/watch?v=vxZeTncWgMo
      • identity theft
      • Forgery These are often committed using computers and technology where hackers can access information illegally. They can often be deemed at INVISIBLE as they are easier to conceal.
    • BCCI
      • The Bank of Credit and Commerce International was a major international bank founded in 1972 by Agha Hasan Abedi
      • Jokily described as the ‘Bank of Crooks and Criminal International’
      • It operated in 78 countries, had over 400 branches, and had assets in excess of $20 billion, making it the 7th largest private bank in the world by assets
      • Investigations revealed that it was involved in massive money laundering and other financial crimes, and illegally gained controlling interest in a major American bank.
      • Closed down on July 5 th 1991
      • Liabilities $10bn owed to 800,000 depositors in 1.2 million accounts over 70 countries UK authorities lost £100 million (est)
    • Effects on Private Sector
      • Fraud losses cost the UK £30bn a year (including scams, online theft, insurance cheats and tax fraud)
      • The annual cost of identity fraud is over £2.7bn
      • More than 1.8 million people are affected by identity fraud every year
      • The number of cases coming to light has risen by almost 10% in the first nine months of 2010
      • National Fraud Authority highlights that in can take 200 hours to sort out a single case of identity fraud
      • 31% of losses came in the private sector
    • Prevention
      • Shredding personal documents before throwing out
      • Check bank and credit card statements carefully
      • Contact a bank or credit card company if a statement fails to arrive
      • Make sure computers have up-to-date anti-virus software installed
      • Use all the privacy settings available on social networking sites but do not put too much personal information up there
      • Special forensic bankers whose job it is to detect fraud and traces of money
    • Blue Collar Crime
      • Private Sector industries face the risk of blue collar crimes being committed against them too
      • Things such as robbery, vandalism, theft (by employees) are things businesses have to consider
    • Effects on Private Sector
      • Increase in security such as CCTV, locks, alarm systems etc
      • Use of more security guards
      • Training for staff to know how to deal with volatile situations
      • Can increase fear of employees
      • Costs rise as security measures are put in place
    • USEFUL ARTICLES
      • http://news.bbc.co.uk/1/hi/business/3102800.stm
      • http://www.independent.co.uk/news/uk/crime/minister-declares-war-on-whitecollar-crime-579366.html
      • http://www.bbc.co.uk/news/uk-12294381 http://www.bbc.co.uk/news/business-11608770 http://news.bbc.co.uk/1/hi/business/8473167.stm
      • http://www.info.gov.za/view/DownloadFileAction?id=85235 (in South Africa)
      • CORPORATE CRIME
      • http://www.bbc.co.uk/news/uk-england-derbyshire-12710294
      • http://www.bbc.co.uk/news/uk-northern-ireland-12722697
      • http://www.bbc.co.uk/news/uk-england-manchester-12740415
      • BLUE COLLAR CRIMES