Despite preventive measures against bankruptcy fraud and money laundering, criminals are finding ways to exploit differing regulations in the United States and Europe, according to a study by Pamela Wong BS’16 (left) and Brenda Limon BS’16 that was published in the International Journal of Arts and Sciences.
The study, which they wrote in Dr. Shawn Carraher’s International Business class, examined the frequency and implications of bankruptcy fraud and money laundering. They also assessed the degree of cultural and ethical differences between these acts in the United States and Europe, where the crimes are more prevalent.
According to the study, the United States has been one of the most active countries in creating uniform financial regulations, including strong whistleblower protection.
The pair was among a group of students Carraher took to Harvard University in the summer of 2016 for the International Journal of Arts and Sciences’ conference, where Limon and Wong presented their work to a panel.