ECONOMIC AND SOCIAL COUNCIL (ECOSOC)
The UN Charter established ECOSOC in 1945 as one of the six main organs of the United Nations. The Economic and Social Council is at the heart of the United Nations system to advance the three dimensions of sustainable development – economic, social and environmental.
Fraud and different types of white-collar crimes steal from citizens while being under the radar as it is one of the hardest types of crimes to identify.
It is estimated that 25% of households will be victimized by a white-collar crime at least once, The average amount of money that is stolen in an armed robbery is just over $3,000; while an average white-collar crime can easily bring losses over $500,000, cases of federal fraud rose by 15% in 2019, while losses incurred due to fraud rose by 80% for the same time period and the average company loses almost $10 a day per employee because of different forms of fraud. For these reasons and more, this committee will strive to curb, to the best of its abilities, the wrongdoings that take place in the financial world with the objective of paving the way for global economic development.
Agenda: The impact of financial fraud and corruption and the framing of anti-fraud policies.
Chairperson: Kenneth Roy
Vice Chairperson: Akash Philip Mani
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