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The purpose of this paper is to expose the failure of the criminal justice system of England and Wales to provide an effective response to widespread fraud and to point to sources from which a new doctrine may be created. The author’s approach draws on public sources, in particular, recent Home Office publications, the work of the House of Commons Home Affairs Committee and studies undertaken by the Mayor of London’s offices in 2014/2015.

The paper uses a critical assessment of the criminal justice system based on the author’s own experience as a fraud prosecutor.

Among the findings is that, while the failings of the current system have been apparent for some years, the extent and depth of the same failings have not been publicly realised, nor sufficiently acknowledged by the authorities. It has become obvious that the traditional response of the criminal justice system, when employed against fraud, will fail for want of anything corresponding to the resources required. A new doctrine will emerge as the Proceeds of Crime Act 2002 is revised and more flexibly employed. The Criminal Finances Bill also holds much promise, in particular, with its new offences akin to money laundering and the provision of powers of investigation at a significantly lower level of command among investigators. However, there remains an apparent reluctance in law enforcement to explain its methodology or to support reform, which would allow a fuller sharing of intelligence and appreciations of threats posed by fraud derived from intelligence with the financial services sector and the victim public.

The value of the paper is derived from the author’s long experience as a fraud prosecutor and as an adviser to the government, on fraud and organised crime, in a closely related jurisdiction with similar problems, but where greater success has been achieved, namely, Hong Kong.

This paper aims to critically analyse the existing framework on assets tracing and recovery in Nigeria. It will thereafter provide analysis of the asset and recovery measures of advanced countries such as the USA and the UK. The results from the analysis will yield maximum insight and help the Nigerian Government to make better policies and laws on assets tracing and recovery.

This paper will rely on primary and secondary data drawn from the public domain. It will also rely on documentary research.

This paper determined that the Nigeria asset recovery scheme is likely to be more effective if Nigeria adopts the approach of the UK and the USA.

This paper will suggest new ways for assets tracing and recovery. The suggested approaches/methods are being used in advanced countries such as the UK and the USA.

Previous research papers have extensively discussed the problems faced with assets tracing and recovery from a prohibitive and investigative standpoint. This paper will discuss the topic from a preventive standpoint with little focus on investigative mechanisms.

This paper aims to examine tax leakages in secrecy financial centres.

This qualitative study relies on primary data from relevant statutes and secondary data from the public domain and in particular academic sources. The study makes concurrent use of the case study approach.

The study reinforces existing suggestions that tax evasion is significantly widespread from advanced to emerging economies. It also suggests serious enforcement difficulties because of light-touch surveillance among competing tax havens and financial professionals. Further, while relevant laws are in place to deal with illicit activities, enhanced transparency is needed to quell the problem and, in this instance, public access to beneficial owner data such as exemplified by UK’s public registry approach. The US Foreign Account Tax Compliance Act is proving to be effective, and similar expectations are raised for the equivalent the Organisation for Economic Co-Operation and Development initiative from 2017 onwards.

The paper is constrained with the general limitations associated with qualitative studies. These are, however, mitigated by triangulations of perspectives and so on.

The findings have implications for policymakers and the business community.

The findings could help to narrow inequality gaps between and within economies.

The paper combines insights from high-profile cases with those from academic sources. The analysis is also undertaken from the combined perspectives of law, economics and accounting. It also focuses in secrecy issues in both offshore and onshore financial centres.

The purpose of this paper is to paint a general picture of the asset confiscation regimes used in Europe and to outline potential challenges, practical and related to issues of principle, associated with the current development with regard to the confiscation of the proceeds of crime and criminals’ proceeds.

The paper endeavours to analyse the various steps of the confiscation process, and the various approaches to the confiscation of proceeds of crime and criminals’ proceeds from a holistic perspective. The findings of the paper are based on a literature review along with a legal analysis of the existent legal frameworks.

It is suggested that the efficiency of asset confiscation should be looked at from a holistic perspective involving the entire confiscation process, and not only focus on the confiscation powers awarded to the courts. Challenges relating to efficiency exist along the entire process, from the stage of financial investigations to the enforcement stage. Some of the methods used for confiscating criminal proceeds are becoming very far-reaching and raise concerns related to basic principles of criminal law and criminal procedural law.

This paper is not based on empirical research relating to, for example, the efficiency of confiscation. More empirical research would, however, be welcome in this field.

The paper suggests that the efficiency of asset confiscation is contingent on the entire confiscation chain functioning efficiently. Before new and more repressive measures are introduced, the existing legal framework should be fully deployed and the concrete needs for new tools clearly delineated.

The paper analyses confiscation with a view to the entire chain rather than merely looking at a particular confiscation scheme.

The purpose of this study is to examine the efficacy of various policy options for curbing the accumulation of illegal wealth and suggest ways to close the increasing wealth inequality gap.

The paper begins with a historical/literary analysis of the place of wealth in American Society and the ambivalent cultural attitudes toward wealth. Different policy approaches that seek to limit wealth inequality and the illegal accumulation of wealth are then examined. Finally, the current policy climate in the USA is reviewed to determine the likelihood of meaningful reform.

In Europe, the BASEL accords show promise for curbing the illegal accumulation of wealth by politically exposed persons. In the USA, tax reform efforts can close the wealth gap, but the current political landscape makes meaningful reform challenging particularly given the increasing use of “dark” money to influence elections.

Because financial reform is a moving target in both Europe and the USA, subject to the ebb and flow of political forces, it is difficult to predict what major reforms will be possible.

Without meaningful reform, an increase in populist movements can be expected (e.g. Brexit and Trump) with an overall, long-term negative impact on democratic capitalism.

The wealth gap and the sense that the system is rigged against the common people will result in increasing political turmoil.

Combining literary/historical analysis with the analysis of current policy interventions provides a set of tools not usually used in the examination of financial crimes.

Using the backdrop of an (apparently) extended visit to the West Indies, analogies with key concerns of internal audit are drawn. An unusual and refreshing way of exploring the main themes ‐ a discussion between Bill and Jack on tour in the islands ‐ forms the debate. Explores the concepts of control, necessary procedures, fraud and corruption, supporting systems, creativity and chaos, and building a corporate control facility.

Using the backdrop of an (apparently) extended visit to the West Indies, analogies with key concerns of internal audit are drawn. An unusual and refreshing way of exploring the main themes ‐ a discussion between Bill and Jack on tour in the islands ‐ forms the debate. Explores the concepts of control, necessary procedures, fraud and corruption, supporting systems, creativity and chaos, and building a corporate control facility.

In order to succeed in an action under the Equal Pay Act 1970, should the woman and the man be employed by the same employer on like work at the same time or would the woman still be covered by the Act if she were employed on like work in succession to the man? This is the question which had to be solved in Macarthys Ltd v. Smith. Unfortunately it was not. Their Lordships interpreted the relevant section in different ways and since Article 119 of the Treaty of Rome was also subject to different interpretations, the case has been referred to the European Court of Justice.

This paper aims to examine the anti-corruption policy of the Federal Executive Council of Nigeria, to determine whether the policy is working and/or has produced unintended effects. The Federal Executive Council is the body comprising all the Ministers of the Federation, including the President and Vice President.

The analysis took the form of a desk study, which analysed various documents and reports such as the Transparency International Corruption Perceptions Index, 2008-2016, the Constitution of the Federal Republic of Nigeria, 1999 (as amended), the Economic and Financial Crimes Commission (Establishment) Act, 2004, the Administration of Criminal Justice Act, 2015, the UK’s Investigatory Powers Act, 2016, the Public Interest Disclosure and Witness Protection Bill, 2017 and the Financial Action Task Force Recommendations, 2012.

This paper determined that the anti-corruption policy of the Federal Executive Council of Nigeria could achieve its desired objectives if the following recommendations are implemented: research grants which are sent to Nigerian universities by international and corporate bodies should be exempted from the current treasury single account arrangement. This would enable universities to easily access the funds and disburse the same to qualified students. The Federal Government should follow the guidelines laid down in Section 270 of the Administration of Criminal Justice Act, 2015 for plea agreements. In other words, the prosecution should only offer a plea bargain to a person who has been charged with an offence. The prosecution should not receive and consider a plea bargain from a person who has not been charged with an offence. Any attempt to water down the effect of Section 270 of the Administration of Criminal Justice Act, 2015 may weaken the ongoing fight against corruption and money laundering because criminals will be encouraged to continue looting public funds. The Financial Action Task Force Recommendations (Recommendation 3) requires that criminal sanctions for natural persons convicted of money laundering should be effective, proportionate and dissuasive. The Federal Government of Nigeria should introduce a Bill to the National Assembly that would provide a clear framework for the use of investigatory powers by law enforcement, the security and intelligence agencies and other public authorities. This includes the interception of communications, the retention and acquisition of communications data, the use of equipment interference and the retention and use of bulk data by the security and intelligence agencies. The Bill must establish a number of safeguards against the arbitrary or unlawful use of investigatory powers by the executive. The UK’s Investigatory Powers Act, 2016, for example, established a number of safeguards for the retention and acquisition of communications data. Authorisations for obtaining communications data will have to set out why accessing the communications data in question is necessary in a specific investigation for a particular statutory purpose and how it is proportionate to what is sought to be achieved. A police officer who receives information from a whistleblower about money hidden in an apartment should apply to a Court or Justice of the Peace within the local limits of whose jurisdiction he/she is for the issue of a search warrant before conducting a search on the said premises. This procedure is in line with Section 143 of the Administration of Criminal Justice Act, 2015 and the Court of Appeal decision in Hassan v. E.F.C.C. (2014) I NWLR (Pt. 1389) 607 at 625. The Public Interest Disclosure and Witness Protection Bill, 2017 should be given accelerated consideration in the House of Representatives based on its urgency and significance for the Federal Executive Council’s whistleblowers policy.

This paper focusses on the anti-corruption policy of the Federal Executive Council of Nigeria from 29 May 2015 to 10 June 2017. It does not address the older policies.

This paper offers a critical analysis of the new anti-corruption policy of the Federal Executive Council of Nigeria. The paper will provide recommendations on how the policy could be strengthened. This is the only paper to adopt this kind of approach.