Bio (Mark Lokanan)
Associate Professor, Intellectual Lead
Dr. Mark Lokanan is a data scientist and machine learning expert. He employs machine learning techniques to build regression, classification, and clustering algorithms to detect fraud, conduct fraud examination, identify suspicious money laundering transactions, predict real estate prices, loan defaults, and turnover rates in companies. He is a highly trained and skilled financial crime expert with expertise in financial forensics and anti-money laundering compliance. Lokanan is one of the few scholars and practitioners in Canada with the requisite education, experience, and expertise in financial criminology, law, accounting, and finance that qualify him as an expert in financial crime investigations. Visit Mark's website.
Lokanan has worked and taught in the United States, the United Kingdom, and Canada at the University of Guelph, San Diego, Simon Fraser, and Newcastle. He has published in the areas of accounting and securities fraud and Anti-money laundering and regulatory compliance. Before joining academia, he worked for the Ministry of the Attorney General in Ontario as a fraud investigator, managing numerous projects and investigations from inception to completion.
Lokanan holds a Ph.D. in Accounting for Financial Crimes from Simon Fraser University (2012), an Master of Science in Forensic Accounting (2017) from Portsmouth, an Master of Science in Financial Crimes from the University of San Diego (2004), an Master of Arts in Sociology from the University of Guelph (2001), a BA in Sociology/Law from York University (1998), advanced specialty certificates in Securities Fraud Analysis from BCIT (2012), and Accounting from McMaster University (2017). He is a certified Microsoft data analyst and a member of the ACFE, CPA, and ACAMS organizations.
Lokanan, M.E., & Liu, S. (2020). The demographic profile of victims of investment fraud: An Update. Journal of Financial Crime. https://doi.org/10.1108/JFC-09-2020-0191
Lokanan, M.E., & Aujla, I. (2020). Mapping the Individual and Structural Theories of Financial Crimes. Journal of Financial Crime. https://www.emerald.com/insight/1359-0790.htm
Lokanan, M.E. (2020). Primark: A case study of Progress. Sage Business Cases.
Sharma, K. & Lokanan, M. E. (2021). Self-regulation in the Canadian Investment Industry: Has Anything Changed after the Inception of IIROC. International Journal of Public Administration.
Nasimi, N., & Lokanan, M.E. (2020). The effectiveness of Anti-Money Laundering policies and procedures within the Banking Sector in Bahrain. Journal of Money Laundering Control. https://doi.org/10.1108/JMLC-10-2019-0080
Braganza, E. & Lokanan, M. (2020). Testing for financial distress in the Canadian Telecommunication industry amidst the launch of Fifth Generation (5G) technology: A case study on Rogers, Telus and Bell. Sage Business Cases.
Lokanan, M.E. (2019). An update on self-regulation in the Canadian securities industry (2009-2016): funnel in, funnel out, and funnel away. Journal of Financial Regulation and Compliance, 27(3), 324-344.
Lokanan, M.E. (2019). A Fraud Investigation Plan for a False Accounting and Theft Case. Journal of Financial Crime, https://doi.org/10.1108/JFC-09-2017-0086
Lokanan, M.E. (2019). Methodological Problems with Big Data When Conducting Financial Crime Research. SAGE Research Methods Cases Politics & International Relations, http://dx.doi.org/10.4135/9781526469250
Lokanan, M. (2019), "The Banks and Market Manipulation: A Financial Strain Analysis of the Libor Fraud", Lehman, C. (Ed.) Beyond Perceptions, Crafting Meaning (Advances in Public Interest Accounting, Vol. 21), Emerald Publishing Limited, pp. 73-103. https://doi.org/10.1108/S1041-706020190000021004
Lokanan, M.E. (2019). Data Mining for Statistical Analysis of Money Laundering Transactions. Journal of Money Laundering Control. https://doi.org/10.1108/JMLC-03-2019-0024.
Tran, V., Lokanan, M., & Hoai Nam, V. (2019). Detecting Anomalies in Financial Statements Using Machine Learning Algorithm: The Case of Vietnamese Listed Firms. Asian Journal of Accounting Research, https://doi.org/10.1108/AJAR-09-2018-0032 .
Whisker, J., & Lokanan, M.E. (2019). Anti-money laundering and counter-terrorist financing threats posed by mobile Money. Journal of Money Laundering Control. https://doi.org/10.1108/JMLC-10-2017-0061.
Lokanan, M.E. (2018). The Application of Cognitive Interviews to Financial Crimes. Journal of Financial Crimes, 25 (3), 882-890.
Lokanan, M.E. (2018). Auditors’ Liability and Investors’ Protection in Canada: The ‘Leaky Umbrella’, Journal of Accounting and Auditing: Research & Practice, DOI: 10.5171/2018.722196
Lokanan M. E. (2018) Comparative and Development Public Administration and Policy. In: Farazmand A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham, https://doi.org/10.1007/978-3-319-31816-5_1196-1
Lokanan, M.E. (2018). Informing the Fraud Triangle: Insights from Differential Association Theory . Journal of Theoretical Accounting Research, 14(1), 55-98.
Lokanan, M.E., & Sharma, S. (2018). A Fraud Triangle Analysis of the Libor Fraud. Journal of Forensic and Investigative Accounting, 10(2), 187-212.
Combs-Goodfellow, B., & Lokanan, M.E. (2018). Anti money laundering and moral intensity in suspicious activity reporting: an application of Jones’ issue contingent model, Journal of Money Laundering Control, 21 (4), 520-533.
Lokanan, M.E. (2017). Self-regulation and compliance enforcement practices by the Investment Dealers Association in Canada: 1984 to 2008. Journal of Financial Regulation and Compliance, 25(1), 2 – 21.
Carlin, A., & Lokanan, M.E. (2017). Ritualisation and Money Laundering in the Swiss Banking Sector. The Journal of Money Laundering and Control, https://doi.org/10.1108/JMLC-04-2017-0013.
Robinson, S. & Lokanan, M.E. (2017). Testing for Impression Management in Creative Accounting: A Case of the Automobile Industry. Journal of Forensic and Investigative Accounting, 9(2), 962-978.
Lokanan, M.E. (2017). Regulatory Capture of Regulators: The case of the Investment Dealers Association of Canada. International Journal of Public Administration. DOI: 10.1080/01900692.2017.1385623
Lokanan, M. E. (2017). Theorizing Financial Crimes as Moral Actions, European Accounting Review, DOI: 10.1080/09638180.2017.1417144
Lokanan, M.E. (2015). Self-Regulation in the Canadian Securities Industry: Funnel In, Funnel Out, or Funnel Away? International Journal of Law, Crime and Justice, 43(4), 456-480.
Lokanan, M.E. (2015). Challenges to the Fraud Triangle: Questions on its Usefulness. Accounting Forum, 39(3), 201-224.
Lokanan, M.E. (2015). Securities Regulation: Opportunities Exist for IIROC to Regulate Responsively. Administration and Society, doi: 10.1177/0095399715584637
Lokanan, M. E. (2014). The Investment Dealers Association of Canada’s Enforcement Record: Are Penalties “Grossly Inadequate”? Journal of Financial Regulation and Compliance, 22(3): 235-251.
Lokanan, M.E. (2014). How Senior Managers Perpetuate Accounting Fraud? Lessons for Fraud Examiners from an Instructional Case. The Journal of Financial Crime, 21(4): 411-423.
Lokanan, M.E. (2014). The Demographic Profile of Victims of Investment Fraud: A Canadian Perspective. The Journal of Financial Crime, 21(2): 226-242.
Lokanan, M. E. (Forthcoming). Namasté Solar Approach to Corporate Sustainability: Is it Sustainable? Sage Business Cases.
Lokanan, M. E. (2009). An Open Model of Restorative Justice: Is there room for punishment? Contemporary Justice Review, Vol. 3, 12, pp. 289-307.
Lokanan, M. E. & Singh, G. (2005) ‘Shame, shame, shame: not on you, but what you have done’, International Journal of Management and Decision Making, Vol. 6, 3/4, pp.334–344.