Management

CRIMINAL CAPITAL

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For much of the last 20 years, I have sifted through thousands of files relating to hundreds of relationships involving financial institutions in different parts of the world that have either facilitated crimes or laundered the proceeds of crimes on behalf of customers. I have tried to maintain a balanced perspective, recognising that many financial institutions are committed to the prevention of illegal activity and not its facilitation. Yet, my experience, synthesized with the ever-expanding list of financial institutions embroiled in scandalous conduct, has persuaded me that change is required. I do not subscribe to the view that there is an innate toxicity at the heart of the financial services industry but I do believe the industry needs to take tougher action to address its susceptibil- ity to the facilitation of crime and the laundering of its proceeds and that to do so meaningfully it must recalibrate its values. To encourage it, prosecutors and regulators must begin to wield bigger sticks.
My motivation in writing this book is to inform both the professional and lay reader about the excesses of the financial services community by cutting through industry jargon and looking at abusive products, services, arrange- ments and relationships for what they really are. I attempt to boil down what appear to be highly complex concepts into basic digestible components, and to analyse different predicate crime types and the ways in which the financial services industry helps in their commission and launders the proceeds gener- ated by them.
Client confidentiality is non-negotiable. I reveal nothing about particular clients or matters that I have been called upon to consider. Instead, I draw upon what I have observed over the course of my career to illustrate, through ficti- tious scenarios, the vulnerabilities of the financial services sector to criminal abuse in the hope that they will serve the dual purpose of helping the industry take more effective preventative action whilst also assisting the authorities to hold the industry to greater account.

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Detail Information

Series Title

CRIMINAL CAPITAL

Call Number

-

Publisher

USA : Palgrave Macmillan., 2015

Collation

1-241

Language

English

ISBN/ISSN

978–1–137–33729–0

Classification

NONE

Content Type

-

Media Type

-

Carrier Type

-

Edition

1st Edtion

Subject(s)

Finance

Specific Detail Info

-

Statement of Responsibility

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Other version/related

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