A manifestation of fraud. We speak of corruption when a person abuses his or her position for personal or business profit. In addition to bribery, corruption includes extortion and undue influence (e.g. due to a conflict of interest). It does not matter whether the recipient, extortionist or instigator of the…
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A situation where a person serves multiple interests and where these interests conflict or may conflict and are incompatible with each other. These interests may be either business-related and private interests, or a mixture of the two. Conflicts of interest impair independence and threaten integrity. A conflict of interest is…
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A person within an organisation, to whom employees can report confidential matters, such as malpractice and violations of the integrity standards. The confidential adviser can also address and prevent undesirable behaviour such as bullying, harassment and discrimination in the workplace. Integrity, anonymity (if desired) and confidentiality are key elements of…
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The organisation chooses to change a previously selected accounting policy. One or more accounting principles for measuring assets and liabilities and determining the result differ from those used in the preparation of prior annual accounts. The Dutch Accounting Standard Board has further elaborated on (the processing approach for) changes to…
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Acting within the framework of laws and regulations with inventive use of professional expertise. A characteristic of an organisation with high business integrity is that it acts to prevent conflicts of interest, corruption, fraud, violations of the law and/or other acts that are socially undesirable.…
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A chartered accountant (RA) or an accounting consultant (AA). The term accountant is also used to refer to an accounting firm. In these recommendations, the term accountant refers to the accountant who audits the organisation’s annual accounts, or issues a compilation report in connection with them. An accountant may be…
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Financial crime risk refers to the potential threat or vulnerability that an individual, organization, or financial institution faces regarding illegal activities that involve monetary transactions, deception, fraud, or manipulation of financial systems for illicit gains. Financial crime risk encompasses a wide range of unlawful activities aimed at generating profits or…
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According the Criminal Yearbook of 1990, the Court’s judgment in Brogan and others (EHRC 29 November 1988, A. 145-b) was very important for the development of the Dutch Criminal Law. As a result of this famous judgment, the Netherlands Minister of Justice requested the Moons’ Commission to advise speedily about…
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Within the domain of online fraud, various forms of financial and economic crimes can occur. Online fraud refers to illegal practices where fraudsters exploit the internet and digital channels to gain financial advantage. Here are some examples of financial and economic crimes within this domain: Identity theft: Fraudsters can steal…
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Financial and economic crime within the domain of Long and Short firm Fraud refers to a specific form of fraud where fraudulent companies are set up with the purpose of obtaining money under false pretenses. This typically involves the use of both long-term and short-term entities. In Long and Short…
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