Title: What lessons can be learned from Madoff's crimes? Individual responsibility of financial criminals does not justify the lack of shared responsibility in the fight against financial crime

Authors: Frédéric Compin

Addresses: Lycée Robert Doisneau, 95, boulevard Jean Jaurès, 91813 Corbeil-Essonnes, France

Abstract: Analysing individual acts committed by financial criminals such as B. Madoff requires not only addressing the collective perception of individual responsibility but also the need for shared responsibility in the fight against financial crime. Given that financial crime impacts both on the functioning and financing of society, this paper highlights the need to explore the far-reaching implications of every criminal act. Engaging the necessary resources to effectively and collectively combat this scourge cannot be achieved if analysis is restricted to the nature of criminal acts and motives of the perpetrators.

Keywords: Apple; Bernie Madoff; financial crime; individual responsibility; shared responsibility; collective responsibility; individual acts; collective acts; financial criminals.

DOI: 10.1504/IJEA.2014.067221

International Journal of Economics and Accounting, 2014 Vol.5 No.3, pp.253 - 268

Available online: 01 Feb 2015

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