Financial Crime in the 21st Century
Show Less

Financial Crime in the 21st Century

Law and Policy

Nicholas Ryder

This book focuses on the financial crime policies adopted by the international community and how these have been implemented in the United Kingdom and the United States of America.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 9: Conclusion and Recommendations

Nicholas Ryder


9. Conclusions and recommendations Financial crime is a global problem that demands a co-ordinated global response. This book has reviewed the financial crime policies adopted by the international community, the United States of America (US) and the United Kingdom (UK) towards four types of financial crime: 1. 2. 3. 4. Money laundering; Terrorist financing; Fraud; and Insider dealing. The book has highlighted the importance of the mechanisms used by the international community, the US and the UK to forfeit and confiscate the proceeds of crime. Furthermore, this research has uniquely categorized the financial crime agencies and regulators in both countries into three categories: 1. 2. 3. Primary; Secondary; and Tertiary. Finally, comparisons have been drawn between the sentencing practices in the US and the UK in relation to the financial crimes outlined above. Holistically, the international community’s financial crime policies are led by the United Nations (UN) and the European Union (EU), who have implemented a number of legal instruments designed to tackle financial crime. The UN has clearly prioritized implementing policies designed to tackle money laundering and terrorist financing. This is illustrated by the fact that many nation states have instigated the integration of the Vienna Convention, the Palermo Convention and the UN Security Council Resolutions following the terrorist attacks in 2001. The UN has been assisted by the Financial Action Task Force (FATF) who have implemented the ‘40 Recommendations’ and the ‘Special Recommendations’ to combat money laundering and terrorist financing. However, it must be noted that a majority...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.