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Financial market‐related crimes seem to continually increase in number as well as in the amount of illicit profits. This emerging situation has obliged governments and self‐regulated bodies to act aggressively on the issue. This paper provides a snapshot of the evolution timeline of financial crimes and discussion in support of the fight against this plague.

Based on financial crime literature and field work.

Improvement in the expertise and degree of refinement employed by both organized crime and criminal businessmen.

Some information originates from confidential sources and consequently could not be further developed.

Contemporary picture of the current situation. Some recommendations were submitted to regulatory authorities who are examining and adjusting their actions accordingly.

The purpose of this study is to provide an overview of some of the deficiencies in the criminal justice system in Jamaica, particularly relating to financial crime. The author also examines possible alternatives in the approach that may be taken in tackling financial crime.

The methodology used was a review of data on financial crime in Jamaica as well as recent significant cases. An analysis of key pieces of legislation was also undertaken. In some instances, a comparative approach was invoked, with special reference to the UK and US laws.

Some essential findings include the positive impact that may be gained from restorative justice principles, the effective enforcement of asset recovery provisions and stricter regulation of the financial services industry.

There is no similar comprehensive examination of these issues concerning Jamaica.

In light of the recent 1MDB Scandal in Singapore, this research paper aims to examine the deterrent effect of Singapore’s sanctions against money laundering within financial institutions.

Case laws and legislations are examined as are relevant reports by regulators.

Singapore’s anti-money laundering (AML) regimes may not act as an effective deterrent against money laundering activities within financial institutions. This is due to the overreliance on the theory of deterrence-based thinking, the lack of an “enforcement pyramid” and economic factors which influence regulators to be lenient towards financial institutions.

There are limited data available in relation to regulators in Singapore and the prevalence of money laundering activities within Singapore’s financial institution. Any discussions within this article is based on the impressionistic observations of this author, which may not reflect the true state of affairs in Singapore.

Those who are interested in examining the relationship between money laundering and the deterrent effect of sanctions against financial institutions will have an interest in this topic.

The value of the paper is to demonstrate that Singapore’s AML regimes may not act as an effective deterrence against money laundering activities within financial institutions.

Located within growing scholarly interest in linking the global financial crisis with revelations of financial crime, this piece utilises Roman Tomasic's suggestion that the financial crisis has marked something of a turning point in regulatory responses to financial crime worldwide. Tomasic attributes this to changing attitudes towards light-touch regulation and risk assessment, and the demand for existing agencies to be replaced with new tougher authorities. In the UK, this can be illustrated by the imminent replacement of the FSA with the Financial Conduct Authority (FCA). The paper aims to discuss these issues.

Discussion of the FSA's financial crime fighting activity is an important forecast for the likely directional focus of the FCA in this regard. A focus only on “market abuse” enforcement within this arises on account of the effects for financial systems widely attributed to this activity, with threats to systemic stability being a hallmark of the 2007-2008 financial crisis. This methodology also encourages coherence in focus and management of sources within the article. Market abuse enforcement provides a lens for exploring the FSA's adoption of the philosophy and ethos of “credible deterrence”, and FCA commitment to retain it, and ultimately for applying the hypothesis of the “haphazard pursuit of financial crime” to pre-crisis criminal enforcement relating to financial crime undertaken by the FSA.

The FSA and FCA appear acutely aware that the financial crisis has marked something of a turning point for the enforcement of financial crime, and for signalling changes in approach, for the reasons explored by Tomasic. Tomasic correctly identifies factors encouraging a range of undesirable practices pre-crisis, and ones signalling tougher and more sustained attention being paid to financial crime henceforth. It is noted that, pre-crisis, the FSA's pursuit of criminal enforcement of market abuse was conscious, comprehensively resourced, well publicised, and actually extensive.

This exploration of the FSA's criminal enforcement of market abuse given the Authority's own perceptions that it was not, and could never be, a “mainstream” criminal prosecutor considers the likely lasting legacy of this determined pursuit, when domestic politics and pan-European policies suggested against this. This is likely to be enormously valuable as the FCA undertakes this task in a domestic arena which is markedly in contrast from this, and where European agendas are pushing in favour of criminal enforcement, with the “more Europe, or less” debate providing a further dimension of interest.

The purpose of this paper is to highlight those factors which involve elite class criminals in corporate financial crimes. This research implies the fact that the study of criminal behavior is pivotal for finding out the reasons behind such crimes.

By describing theories of criminology, researchers assess the nature of financial criminals in Pakistan from a theoretical perspective.

Elite-class people commit crimes upon perceiving high benefits and less punishment. Moreover, the social environment contributes greatly to inducing criminal behavior.

Explanation of criminal behaviors provided in the study will be helpful in providing directions for the prevention of such criminal actions in the future.

This research examines the criminal behavior of elite class crimes from the theoretical perspective which will be significant in the prevention of such behaviors.

This paper seeks to examine the problem of cyber fraud, a situation created by online financial transactions.

Examines the challenges to regulating financial fraud in cyberspace, e.g. those responsible for the fraud; the possibility of prosecution; and the position of cyberspace in the light of jurisdiction and control.

Finds that the introduction of internet specific regulation would be useful in combating cyberspace fraud.

This paper arguably breaks new ground in recommending measures to combat financial fraud in cyberspace.

This article aims to address the research question: “What are the characteristics of white‐collar criminals in Norway?”.

The research is based on data from articles in Norwegian financial newspapers for one year where a total of 67 white‐collar criminals convicted to jail sentence were identified. The sample is analysed and presented in comparison with US literature especially on characteristics of white‐collar criminals, which is believed to be both general and limited.

The paper's contribution is important, as studies of white‐collar criminals so far have focused on case studies rather than statistical analysis of a larger sample. The paper finds that the typically white‐collar criminal is male, 46 years old, involved with first time crime of the amount of 30 million US dollars and convicted to three years of imprisonment. As a contradiction to previous literature on white‐collar crime, the paper also finds that they are not part of the upper‐class and highly educated. On the contrary, even though mostly being leaders, they are not highly educated, but have a position that gives them access to money. Consequently, the paper also finds that manipulation and fraud is the most common form of white‐collar crime in Norway.

The results are in opposition to existing literature and offer a fresh perspective on the characteristics of white‐collar criminals in Norway.

This paper presents a macroeconomic framework useful to the analysis of the relationships between the illegal sector, money laundering and the legal economy from a human as well as a financial viewpoint. Economists have not yet systematically studied the interactions between illegal sectors, money‐laundering activities and the legal market. This study is part of a larger area of research which takes a particular interest in the economic analysis of money laundering. In previous years this author has developed a microeconomic analysis of the money‐laundering mechanisms and of the related regulations; this is a deeper examination of the macro consequences.

This article starts with a short introduction to the department of the Dutch Fiscal Investigation and Information Service (FIOD). There will be an introduction on financial investigations in general, a definition and goals. Attention will also be given to the recommendations of the Financial Action Task Force. There are two examples of financial investigations, one in the area of so‐called ‘organised crime’ and one in the area of ‘organisational crime’. These examples make clear that financial investigations can be a successful investigation method. Through the use of this method both tactical information and evidence are given. The examples will also show that financial investigations may have to be connected to other forms of investigation: the use of informers, surveillance, wire tapping and crown witnesses. They will also make clear that, from the point of view of a financial investigator, there is no big or relevant distinction in the way of tackling these sorts of crime.

This paper aims to examine how banks in Tanzania have been vulnerable to money laundering activities and how the banking institutions have been implicated in enabling or aiding the commission of money laundering offences, and highlights the banks’ failure or inability to prevent, detect and thwart money laundering committed through their financial systems.

The paper explores Tanzania’s anti-money laundering law and analyzes non-law factors that make the banks exposed to money laundering activities. It looks at law-related, political and economic circumstances that impinge on the banks’ efficacy to tackle money laundering offences committed through their systems. The data are sourced from policy documents, statutes, case law and literature from Tanzania and other jurisdictions.

Both law-related and non-law factors create an enabling environment for the commission of money laundering offences, and this exposes banks in Tanzania to money laundering activities. Some banks have been implicated in enabling or aiding money laundering offences. These banks have abdicated their obligations to fight against money laundering. This is attributed to the fact that the banks’ internal anti-money laundering policies, regulations and procedures are inefficient, and Tanzania’s legal framework is generally ineffective to tackle money laundering offences.

This paper uncovers a multi-faceted nature of money laundering affecting banks in Tanzania. It is recommended that Tanzania’s anti-money laundering policy should address law-related, political, economic and other factors that create an enabling environment for the commission of money laundering offences. Tanzania’s anti-money laundering law should be reformed to enhance its efficacy and, lastly, banks should reinforce their internal anti-money laundering policies and regulations and policies.