Gender and Grand Larceny: A Deeper Dive into Multi-Million Dollar Frauds

Fraud, embezzlement, and scams have been around for centuries. However, over the last few decades, there has been a shift in the gender dynamics of these crimes. Women have increasingly become involved in scamming and embezzlement, which was once almost completely male-dominated. This phenomenon has gained the attention of researchers, who have sought to understand why women are becoming more involved in these activities.?

According to a study conducted by the Association of Certified Fraud Examiners (ACFE), the percentage of women involved in embezzlement and other fraud schemes has been steadily increasing. In 2002, women accounted for 24% of fraud cases; in 2020, that percentage had risen to 31%. The ACFE report also found that women were more likely than men to commit embezzlement, accounting for 61% of all embezzlement cases.

Jamaica is a country known for its vibrant culture, beautiful beaches, and welcoming people. However, like many other countries, it is not immune to fraudulent activities such as scamming and embezzlement. While these crimes are often associated with men, there is growing evidence to suggest that women are also involved in these illegal activities.

According to a report by the Jamaica Constabulary Force (JCF), there has been a significant increase in the number of women involved in financial crimes such as embezzlement and fraud. The report shows that in 2018, women accounted for 24% of all arrests for financial crimes, up from just 10% in 2014. This trend is a cause for concern, as it suggests that women are becoming more involved in activities that were traditionally seen as male-dominated.

One notable case of women's involvement in financial crimes in Jamaica is the "Lotto scam," a scheme that involves tricking people into believing they have won a lottery prize and then demanding money to claim the prize. In 2016, a group of women was arrested in connection with a large Lotto scam operation in Jamaica. According to reports, the women had received large sums of money in their bank accounts and then withdrew the funds in cash or transferred them to other accounts to conceal the source of the money. These women involved in the Lotto scam operation were not only participants but also facilitators who helped launder the money obtained through the scheme.

Another example of women's involvement in financial crimes in Jamaica is the case of Carla Haughton, a former employee of the Jamaica Urban Transit Company (JUTC). In 2019, Haughton was convicted of embezzling more than J$1.8 million (12,000 USD) from the JUTC. According to reports, Haughton had stolen the money by manipulating the company's payroll system. She created fake employees and diverted their salaries into her bank account. The scheme had been ongoing for over a year before it was uncovered. Research has shown that women are often motivated by the same factors as men when it comes to financial crimes. These include greed, a desire for status, and a need for money to cover debts or support a lavish lifestyle.

While there is no definitive reason for the increase in women's involvement in financial crimes in Jamaica, there are several factors that may be contributing to this trend. One possible explanation is the lack of opportunities for women in the formal economy. According to a report by the International Labor Organization (ILO), women in Jamaica are more likely to be employed in the informal sector, where wages are lower and job security is limited. This may make them more vulnerable to engaging in illegal activities to make ends meet.

One of the reasons researchers say women may be becoming more involved in these crimes is due to increased opportunities. As women continue to break down traditional gender barriers and enter male-dominated professions, they gain access to more opportunities to commit these types of crimes. For example, women who work in finance, accounting, and bookkeeping are more likely to commit embezzlement.?

Another possible reason for the increase in women's involvement in financial crimes is Jamaica's changing social and economic landscape. As more women enter the workforce and become financially independent, some may feel pressure to maintain a certain lifestyle, leading them to engage in illegal activities. Additionally, with the rise of technology and online banking, it has become easier for people to commit financial crimes from the comfort of their own homes, which may be attractive to women who are juggling work and family responsibilities

It is important to note that women's involvement in financial crimes in Jamaica is not limited to those from low-income backgrounds. There have been several cases of women from wealthy families being involved in embezzlement and fraud. On February 17th, 2023, Jean-Ann Panton, a former employee of Stocks and Securities Limited (SSL), appeared in court after being charged with several breaches of the Larceny Act, Proceeds of Crime Act (POCA), Forgery Act, and Cyber Crimes Act. The charges stem from an alleged US$12.7-million dollar fraud at SSL, whose clients included Usain Bolt, the eight-time Olympic champion. According to the Financial Investigations Division (FID), Panton signed a confession during interviews with her employees admitting to defrauding almost 40 customers.

While men are still over-represented in white-collar crime, women's participation in these crimes is on the rise and is very concerning. Important to note is the increasing number of women in positions of power and authority.? Jamaica lies in a category of only three countries in the world where your boss is more likely to be a woman than a man with just under 60 percent of all managers being women in Jamaica, according to the ILO.?

This trend of women in positions of power and authority in Jamaica is not unique to the country, as there has been a global shift towards greater gender equality in the workplace. However, the fact that Jamaica has such a high proportion of female managers is noteworthy and demonstrates the potential for women to have significant influence in the business and financial sectors.

While it is important to celebrate the progress that has been made toward gender equality in the workplace, it is also important to recognize that this progress does not necessarily translate to a reduction in white-collar crimes.

It is important for employers and law enforcement agencies to remain vigilant and take steps to prevent and detect financial crimes committed by both men and women. This includes implementing effective internal controls, conducting regular audits, and providing training and education to employees on how to identify and report suspicious activity.

In addition, it is crucial for society as a whole to address the underlying issues that may contribute to white-collar crime, such as greed, a lack of ethics, and a culture that places excessive value on material success. By promoting a culture of integrity and accountability, and by holding those who engage in financial crimes accountable for their actions, we can work towards a more just and equitable society for all.

In conclusion, the case of Jean-Ann Panton and other high-profile cases of embezzlement and scamming involving women highlight the need for greater attention to this issue in Jamaica. While women's participation in these crimes is still relatively low compared to men, their involvement is on the rise. While the stereotype of the "white-collar criminal" may still be associated with men, it is important to recognize that anyone can be capable of committing these offenses. Addressing the root causes of women's involvement in financial crimes, such as poverty and lack of economic opportunities, is crucial to preventing such crimes in the future.