Journal of Financial Crime: Volume 12 Issue 2

The war on terror ‐ future trends

Gary Scanlan

Describes the anti‐terrorist regime in the UK, and how the law has changed since the 19th century, with reference to the 1974 Prevention of Terrorism Act and its followups. Shows…

Law enforcement challenges in hawala‐related investigations

Nikos Passas

Defines hawala, which in Arabic means “transfer”; what distinguishes it from other fund transfer methods is its informality, reliance on trust and networks, and lack of records…

The European Anti‐Fraud Office (OLAF)

Nicholas Ilett

Outlines the function of the European Anti‐Fraud Office, known as OLAF and created in 1999: to protect the finances of the European Commission by fighting fraud, corruption and…

Money laundering and income tax evasion: the determination of optimal audits and inspections to detect abnormal prices in international trade

Maria E. de Boyrie, Simon J. Pak, John S. Zdanowicz

Presents a statistical auditing system which gives a methodology for statistical analysis of international trade prices. Discusses how this can help governments and international…

The role of whistleblowers in the fight against economic crime

Richard Alexander

Discusses the position of whistleblowers who report their suspicions of crimes like money laundering; individuals with inside knowledge are often crucial to fighting such crimes…

Mapping the trails of financial crime

Massimo Nardo

Outlines a modelling approach which gives a powerful conceptual tool for both fact‐finding and problem‐solving, with the objective of defeating organised crime by prediction and…

Fraud as economic terrorism: the efficacy of the Nigerian Economic and Financial Crimes Commission

Charles A. Malgwi

Discusses Nigeria’s efforts, especially through its Economic and Financial Crimes Commission (EFCC), to meet the requirements of the global Financial Action Task Force on money…

Expert witness qualifications and selection

Derk G. Rasmussen, Joseph L. Leauanae

Defines an expert witness as a specialist who uses special knowledge, skill, training or experience to provide testimony to aid the factfinder. Discusses the criteria and…

The billion‐dollar hedge fund fraud

Greg N. Gregoriou, William Kelting

Explains the popularity of hedge funds as a convenient way to park pension fund and endowment fund money onshore or offshore in times of volatile stock and bond markets; as a…

How to combat business failures

Mohammed B. Hemraj

Analyses, from reported cases, the causes of failures in business and the lessons that can be learnt. Explains risk management and insurance, the differences between salaried…

Creating a corruption‐free zone through legislative instruments: some reflections on Lesotho

Qhalehang Letsika

Outlines Lesotho’s institutional framework for combating corruption: this is the Prevention of Corruption and Economic Offences Act No. 50 of 1999, which established a Directorate…