The purpose of this study is to provide an updated version of the widely accepted three lines of defense model (3LoD) to better apply for regulated financial institutions. The author proposes the five lines of defense model (5LoD) which consists of the existing three lines along with external...

Purpose: This paper aims to elaborate on the theory of fraud by enhancing the existing theories behind the factors that force people to commit fraud. Design/methodology/approach: The paper reviews the most commonly used and widely accepted models for explaining why people commit fraud – the...

Purpose This paper aims to bring into surface two major socioeconomic problems of Greece, tax evasion and shadow economy. Design/methodology/approach It examines the determinants and the factors that led to the formation and expansion of tax evasion and subsequently of black economy. Empirical...

Purpose – This paper aims to highlight the new regulatory framework established by Basel III. Design/methodology/approach – This paper provides a critical review of the existing literature concerning bank supervision while providing an overview of the transition from Basel I to Basel III...