• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Crime and the private sector (1)

Crime and the private sector (1)






Total Views
Views on SlideShare
Embed Views



0 Embeds 0

No embeds



Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
Post Comment
Edit your comment

    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
      • 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)
      • 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