Journal of Financial Crime: Volume 10 Issue 2

The USA PATRIOT Act: new adventures in American extraterritoriality

Ethan Preston

Gives the background to the Act, whose Title III was meant in part to deal with financial secrecy jurisdictions. Reviews the antagonism of American courts towards financial…

Expectations of privacy and market abuse ‐ support for the Financial Services and Markets Act and the Canadian approach

Mark Jones, Peter Johnstone

Introduces the UK Financial Services and Markets Act 2000 (FSMA), a determined effort to modernise financial regulation which creates the Financial Services Authority (FSA) as a…

Global financial business and the implications for effective control of money laundering in offshore centres

Richard Pratt

Discusses the effect of globalisation of financial markets, especially the effects of international initiatives to improved financial probity and stability in offshore centres…

The misuse of corporate vehicles

Talmai P. Morgan

Comments briefly on the OECD report on Guernsey as an Offshore Financial Centre, one which is emphatically not a Non‐Cooperative Country or Territory. Focuses on the misuse of…

Compliance and anti‐money laundering regulation in France

Geneviéve Bardin

Describes briefly how France has recently adopted stricter rules for compliance in the fight against money laundering, and the role played by regulatory authorities in improving…

Evolution of methods of money laundering in Latin America

Ricardo M. Alba

Introduces the measures taken in South America’s Spanish, Portuguese and French speaking countries, and in the Spanish‐speaking Caribbean, to create a framework for combating…

Preventing corporate failure: the Cadbury Committee’s corporate governance report

Mohammed B. Hemraj

Describes the 19‐point code of corporate governance produced in 1991 by the Cadbury Committee, which was set up by the Stock Exchange, the Financial Reporting Council and the…

The responsibility for handling proceeds of corruption in Polish criminal law

Janusz Bojarski

Introduces the new Polish Penal Code; passed in 1997, it is one of many statutes which are adapting Polish criminal law to the free economy, and includes provisions for economic…

Combating money laundering and smuggling in Colombia

Jaime Ospina‐Velasco

Shows how far Colombia has come in achieving its aim of combating contraband, which is not only an illegal activity which reduces fiscal revenue and causes unemployment, but is…

Prosecution for money laundering in the UK

Simon Maylam

Reports briefly the state of money laundering research on the UK; it is not really known how much goes on, but an estimate was made in 1998 that about £2.5 billion was being…

The liability of accountants and auditors under the Federal Securities Acts and the Racketeer Influenced and Corrupt Organizations Act in the USA

Mohammed B. Hemraj

Shows how the Securities and Exchange Act and the Racketeer Influenced and Corrupt Organizations Act 1970 (RICO) in the USA impose additional burdens on auditors in the detection…

Micro‐ and macro‐economic effects: secreting assets to evade non‐business (private) obligations and responsibilities

Ellen Harshman, Muhammed Islam, Camille A. Nelson, Henry M. Ordower

Investigates the effects on the family and society when an American business owner hides his wealth from creditors and family members, based on a case study where a non‐custodial…

Fraud victimisation of companies: the Cyprus experience

Maria Krambia‐Kapardis

Focuses on fraud, including in the concept a wide range of offences committed by management, employees or third parties against the employer/corporation/customer/supplier, and…