White Collar Crime Within Property Agents' Trust Accounts

Publisher:
Australian Property Institute
Publication Type:
Journal Article
Citation:
Australia and New Zealand Property Journal, 2015, 5 (3), pp. 199 - 203
Issue Date:
2015-11-30
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Property Agents in New South Wales, have a duty of care towards the correct accountability of trust money held on behalf of their principle, for example the landlord and vendor. Society over the years though, has changed; and with the increase in white collar crime consumer confidence has eroded and government regulation has increased to enhance consumer protection. The question therefore arises whether or not white collar crime can be prevented. However, without understanding the reasons for the crime occurring, it is difficult to implement safety mechanisms to prevent the fraud. This research paper examines a number of constant characteristics associated with white collar crime and concludes that the four characteristics Motive, Targets, Access and Opportunity, form the basis for white collar crime in a property agency.
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