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Powerlessness as the Basis for Financial Crimes: A Brief Overview

Powerlessness as the Basis for Financial Crimes: A Brief Overview

Tayo Oke
Copyright: © 2021 |Pages: 10
ISBN13: 9781799855675|ISBN10: 1799855678|ISBN13 Softcover: 9781799855682|EISBN13: 9781799855699
DOI: 10.4018/978-1-7998-5567-5.ch003
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MLA

Oke, Tayo. "Powerlessness as the Basis for Financial Crimes: A Brief Overview." Handbook of Research on Theory and Practice of Financial Crimes, edited by Abdul Rafay, IGI Global, 2021, pp. 39-48. https://doi.org/10.4018/978-1-7998-5567-5.ch003

APA

Oke, T. (2021). Powerlessness as the Basis for Financial Crimes: A Brief Overview. In A. Rafay (Ed.), Handbook of Research on Theory and Practice of Financial Crimes (pp. 39-48). IGI Global. https://doi.org/10.4018/978-1-7998-5567-5.ch003

Chicago

Oke, Tayo. "Powerlessness as the Basis for Financial Crimes: A Brief Overview." In Handbook of Research on Theory and Practice of Financial Crimes, edited by Abdul Rafay, 39-48. Hershey, PA: IGI Global, 2021. https://doi.org/10.4018/978-1-7998-5567-5.ch003

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Abstract

Scholarly analysis of financial crime, its modus operandi, and the characters involved have almost exclusively been focused on the activities of the elite and the powerful for decades. Recommendations on how to minimise its debilitating impact have always, also, been focused on the elite, the powerful, and the state institutions they control. Corruption and financial crime are the pastime of people at the top only. This overview contends that perpetration of financial crime by the powerless can be just as corrosive and harmful as that perpetrated by the powerful. The quality of criminality and its pervasiveness is as relevant as its quantum and location. Exclusive focus on the higher echelons of financial crime subsumes its roots and significance within society, thereby leading to the lop-sidedness of proposed remedies. This chapter seeks to establish the nexus between low- and high-level financial crime as a way of providing a more holistic view of the depth of its effect, especially in less sophisticated economic environments.

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