Table of Contents

Research Handbook on International Financial Crime

Research Handbook on International Financial Crime

Research Handbooks in Financial Law series

Edited by Barry Rider

A significant proportion of serious crime is economically motivated. Almost all financial crimes will be either motivated by greed, or the desire to cover up misconduct. This Handbook addresses financial crimes such as fraud, corruption and money laundering, and highlights both the risks presented by these crimes, as well as their impact on the economy. The contributors cover the practical issues on the topic on a transnational level, both in terms of the crimes and the steps taken to control them. They place an emphasis on the prevention, disruption and control of financial crime. They discuss, in eight parts, the nature and characteristics of economic and financial crime, the enterprise of crime, business crime, the financial sector at risk, fraud, corruption, the proceeds of financial and economic crime, and enforcement and control.

Chapter 25: Practicalities of financial crime deterrence

Richard Parlour

Subjects: economics and finance, financial economics and regulation, law - academic, corruption and economic crime, finance and banking law


This chapter is an introduction to the key practicalities of financial crime deterrence. It is based on 25 years’ experience in financial markets, including what has been described as the leading example of compliance turnaround, and the leading transformation of a country’s financial markets. The first step in financial crime deterrence is to carry out an assessment of how an organisation may be affected by underlying criminal activity including drug trafficking, money laundering, bribery and corruption, fraud, cybercrime, terrorism, nuclear weapon proliferation, organised crime and sanctions. Without such a step, any deterrence system is likely to be skewed, or at worse irrelevant.

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