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NCJ Number: 183843 Find in a Library
Title: Keynote Address to the 17th International Cambridge Symposium on Economic Crime
Journal: Journal of Financial Crime  Volume:7  Issue:4  Dated:April 2000  Pages:304-307
Author(s): Rosalind Wright
Editor(s): Barry A. K. Rider
Date Published: 2000
Page Count: 4
Publisher: http://www.henrystewart.co.uk 
Type: Conference Material
Format: Article
Language: English
Country: United Kingdom
Annotation: The director of England's Serious Fraud Office discussed economic crime relative to the banking industry, financial institutions, and money laundering in her keynote address at the 17th International Cambridge Symposium on Economic Crime.
Abstract: The keynote speaker notes that banking secrecy is an essential and legitimate commercial tool for lawful business transactions but that it also facilitates fraud by individuals who want to divert funds and hide them from authorities. She considers banking arrangements and practices in various parts of the world and notes the prevalence of e-commerce and electronic bank transfers and the associated opportunities for criminals. In addition, the speaker indicates that secrecy surrounding bank transactions constitutes a threat to the reputation of the United Kingdom as an honest business market. She describes procedures followed by money launderers, emphasizes the importance of instituting standard procedures for reporting suspicious transactions, and describes powers of the Serious Fraud Office. The role of law enforcement in meeting the challenge of international crime and fraud is addressed.
Main Term(s): World criminology
Index Term(s): Bank fraud; Crime in foreign countries; Financial institutions; Foreign crime prevention; Foreign police; Fraud and abuse prevention measures; International cooperation; International Law Enforcement Cooperation; Money laundering; Police crime-prevention; United Kingdom (UK); White collar crime
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http://www.ncjrs.gov/App/publications/abstract.aspx?ID=183843

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