Are we any good at protecting our societies and economies from the threat of economic crime and misconduct? A look at the Italian system

Abstract

Purpose

This paper aims to outline the Italian framework of rules against economic crime and to verify if Italian legislation provides for appropriate and effective measures according to own needs both at a national and European level.

Design/methodology/approach

The paper uses a comparative approach by examining the European and Italian legal systems for finding analogies and differences between them.

Findings

The study has revealed the need of a greater international harmonisation of criminal laws and penalties as well as the transnationality of the economic crime cuts the chance of success of every national strategy, given that transnational criminals are encouraged by the awareness that their cross-border activities complicate law-enforcement efforts against them.

Research limitations/implications

To maintain a common international level in the protection of individuals from the risk of economic crimes and to enforce the effectiveness of European and national regulations.

Practical implications

The achievement of a high level of protection, for public security and social cohesion, to prevent and reduce economic crimes, in particular, cybercrimes.

Social implications

To ensure a high level of security for the general public by taking action against money laundering, cybercrimes and other sorts of misconducts.

Originality/value

Fighting economic crime requires the close cooperation of law enforcements from different countries, which the traditional law enforcement institutions are not designed to provide.

Citation

Vanni, D. (2019), "Are we any good at protecting our societies and economies from the threat of economic crime and misconduct? A look at the Italian system", Journal of Financial Crime, Vol. 26 No. 4, pp. 1006-1013. https://doi.org/10.1108/JFC-11-2017-0115