Purpose The prevention of fraudulent activities, particularly within a financial context, is of paramount significance in all spheres, as it not only impacts the sustainability of corporate entities but also has the potential to have a broader economy-wide impact. This paper aims to focus on...

Purpose This paper aims to outline how certain lessons from ethical systems can be relevant and applicable to tackling unethical behavior, including financial crime, within the finance profession. Design/methodology/approach This paper adopts a pragmatic perspective while acknowledging that...

Purpose The purpose of this paper is to understand the financial opaqueness established through offshore businesses and financial secrecy through the requirements of information exchanges, and their deadly combination for facilitating money-laundering activities and tax evasion. It also puts...

Purpose The purpose of this paper is to illustrate threefold how hawala banking poses a problem for Swiss banks implementing anti-money laundering (AML) and anti-terrorist financing (ATF) policies as a fulfilment of Switzerland’s UN commitment. Design/methodology/approach The first author...

Purpose The purpose of this paper is to consider the effect of the Prevention of Money Laundering Act (PMLA), 2002 on the property rights of third parties, by evaluating whether the interpretation of the scheme of the PMLA, 2002 results in a deprivation of rights, by virtue of the provision for...

Purpose The purpose of this paper is to define and characterize peculiarities of countering the legalization of criminal income with the help of virtual assets. Design/methodology/approach The analysis of the legislative delineation and the realities of the practical implementation of the...

Purpose This paper aims to elucidate the practical and theoretical mechanisms which contribute to the perception of an economic sanction’s effectiveness as a foreign policy tool. Design/methodology/approach This paper is divided into three sections, the first two of which are heavily based on...

Purpose 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,...

Purpose The purpose of this paper is to highlight the extent to which organised crime and the environment have altered in relation to money laundering and terrorist financing and to explore whether strategies to “follow the money” have been successful. Design/methodology/approach This paper...

Purpose This paper aims to highlight the persistent influence of the concept of “predicate offence” in respect of how the crime of money laundering is conceived and discussed, and to discuss how this inhibits the ability to prosecute the crime even where, as is the case in the UK,...