Challenges in the Field of Economic and Financial Crime in Europe and the US

Criminal justice systems have faced significant global challenges in combating economic and financial crime, due to the interconnectedness of financial markets and economies, technological evolutions, and the difficulty of detecting and investigating misconduct. This volume examines these challenges from different perspectives and explores solutions criminal justice systems across Europe have adopted to address them, including substantive criminal law, administration of justice and criminal procedure, multi-agency cooperation, and integrated enforcement models.

Format: Paperback / softback
Length: 312 pages
Publication date: 25 July 2019
Publisher: Bloomsbury Publishing PLC

Criminal justice systems have grappled with significant global challenges in the realm of economic and financial crime in recent years. The 2008 financial crisis unveiled the profound interconnectedness of financial markets and economies, highlighting the systemic nature of misconduct within these sectors, which often has far-reaching consequences for numerous victims. As a result, the prevention, control, and punishment of such crimes face a formidable challenge in the context of globalisation. Moreover, continuous technological advancements and socio-economic transformations make it increasingly difficult to distinguish between socially desirable and undesirable behavior. Additionally, economic and financial misconduct poses significant challenges in terms of detection and investigation. In response to these challenges, legislators and law enforcement agencies have been actively seeking appropriate responses by adapting existing policies, norms, and practices, as well as establishing new enforcement mechanisms.

The purpose of this comprehensive volume is to examine these challenges from various perspectives and explore the specific solutions adopted by criminal justice systems across Europe. The book is divided into four parts. The first part delves into key questions related to substantive criminal law, while the second part addresses issues affecting the administration of justice and criminal procedure. Part three explores the particular challenges associated with multi-agency cooperation and multi-disciplinary investigations. Finally, part four focuses on issues related to shared or integrated enforcement models.

In the first part, the authors examine the legal framework and principles governing economic and financial crimes, including the definition of offenses, the elements of proof, and the applicable penalties. They also explore the role of international cooperation in combating cross-border economic and financial crimes, such as money laundering, tax evasion, and fraud. The authors discuss the challenges posed by the digital age, including the use of technology for criminal purposes, such as cybercrime, and the need for robust cybersecurity measures to protect against such threats.

The second part focuses on the administration of justice and criminal procedure in the context of economic and financial crime. The authors discuss the role of law enforcement agencies, such as the police, the judiciary, and financial regulatory bodies, in investigating and prosecuting such crimes. They also explore the importance of evidence-based prosecution, the right to a fair trial, and the protection of witnesses and victims. The authors also examine the challenges of cross-border cooperation and the need for effective extradition procedures to ensure the enforcement of international law.

In the third part, the authors examine the challenges of multi-agency cooperation and multi-disciplinary investigations in the context of economic and financial crime. They discuss the importance of information sharing, coordination, and collaboration among different agencies and disciplines to effectively investigate and prosecute complex cases. The authors also explore the role of technology in facilitating such cooperation, such as data analytics and artificial intelligence, and the need for ethical and transparent practices to ensure the protection of individual rights and privacy.

The fourth part focuses on issues related to shared or integrated enforcement models in the context of economic and financial crime. The authors discuss the advantages and disadvantages of such models, including the potential for increased efficiency and effectiveness in combating crime, as well as the challenges of maintaining legal sovereignty

In conclusion, this volume provides a comprehensive examination of the challenges and solutions in the field of economic and financial crime from different perspectives. It highlights the interconnectedness of financial markets and economies, the systemic nature of misconduct, and the need for global cooperation and collaboration to combat these crimes. The authors offer valuable insights and recommendations for policymakers, law enforcement agencies, and practitioners to enhance their understanding and effectiveness in addressing these complex challenges.

Weight: 504g
Dimension: 156 x 233 x 25 (mm)
ISBN-13: 9781509930128