Ranking of the Maximum Amount for Embezzlement and Misappropriation

In recent years, the news of embezzlement and misappropriation by public officials and corporate executives has been constantly reported. The embezzlement and misappropriation of large amounts of money cause significant losses to companies and national economy, and also ruin the trust of the public. In this blog post, we will look at the ranking of the maximum amount for embezzlement and misappropriation in various countries and examine how it affects their economy.

The Definition of Embezzlement and Misappropriation

Embezzlement is a crime in which a person unlawfully takes funds or other property that has been entrusted to him/her, while misappropriation refers to the fraudulent use of somebody else's property or funds for personal gain.

While embezzlement is committed by an individual in a position of trust, such as an employee of a company or a public official with access to public funds, misappropriation can be committed by an individual not in a position of trust.

Ranking of the Maximum Amount for Embezzlement and Misappropriation

Each country has its own law on the maximum amount for embezzlement and misappropriation. In Japan, the maximum amount for embezzlement is 500 million yen, while in South Korea, it is 5 billion won. In the United States, the maximum amount for theft and embezzlement depends on the federal or state law, but often goes up to several hundreds of thousands of dollars.

However, it is important to note that the maximum amount for embezzlement and misappropriation is not the same as the actual amount that is embezzled or misappropriated. There are cases where large amounts of money are embezzled even though the maximum amount is quite low, and vice versa.

The Economic Effect of Embezzlement and Misappropriation

Embezzlement and misappropriation by public officials and corporate executives cause significant damage to their organizations and the economy. They can cause a loss of trust and confidence in the company, damage the reputation of the organization, and cause a significant financial loss. For example, Toshiba's accounting scandal in 2015 caused a loss of more than 150 billion yen, and the impact on their reputation will remain for a long time.

In conclusion, embezzlement and misappropriation are serious crimes that can have a significant impact on society, especially on the economy. Through understanding their definition, ranking and impact, we can avoid its negative impact and build a more ethical and trustworthy society.

Reference links: - Definition of Embezzlement and Misappropriation by Legal Dictionary - Toshiba's accounting scandal by The Japan Times