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Certainty and financial crime control

Journal Article


Abstract


  • Purpose – There has been a significant increase in the number of financial crime regulatory offences (as

    distinct from traditional fraud offences). The purpose of this paper is to address the question of how should

    those in positions of control and influence in management take steps to ensure the integrity of those under

    them and also the relevant conduct of their customers and clients in light of this proliferation.

    Design/methodology/approach – The work, which is grounded in the field of criminology, uses a

    combination doctrinal (legal) and qualitative methods. Its emphasis is on mala prohibita (“wrong because they

    are prohibited”) offences rather than mala in se (“wrong or evil in itself”). The work situates regulatory

    offences within the broader criminological debate regarding financial crime. It then analyses and reviews the

    significance of the requirement for certainty in relation to mala prohibita offences. By reference to some

    Australian offences, the analysis moves to some offences where uncertainty manifests. Finally, the work

    proposes some practical ways in which those in positions of control and influence may provide certainty to

    those under them to ensure integrity.

    Findings – The paper argues that a paramount step for those in positions of control and influence, in taking

    steps to ensure the integrity of those under them and also the relevant conduct of their customers and clients

    is to provide certainty with regard to the illicit activities relevant to their organisation to those persons under

    them. The work proposes some practical ways in which those in positions of control and influence may

    provide certainty to those under them to ensure integrity.

    Originality/value – The work is novel because of its focus on regulatory mala prohibita offences rather than

    the traditional criminal law or mala in se offences (in relation to which there has been much more discussion).

Publication Date


  • 2017

Citation


  • M. Leighton-Daly, 'Certainty and financial crime control' (2017) 24 (4) Journal of Financial Crime 678-690.

Scopus Eid


  • 2-s2.0-85032967740

Number Of Pages


  • 12

Start Page


  • 678

End Page


  • 690

Volume


  • 24

Issue


  • 4

Place Of Publication


  • United Kingdom

Abstract


  • Purpose – There has been a significant increase in the number of financial crime regulatory offences (as

    distinct from traditional fraud offences). The purpose of this paper is to address the question of how should

    those in positions of control and influence in management take steps to ensure the integrity of those under

    them and also the relevant conduct of their customers and clients in light of this proliferation.

    Design/methodology/approach – The work, which is grounded in the field of criminology, uses a

    combination doctrinal (legal) and qualitative methods. Its emphasis is on mala prohibita (“wrong because they

    are prohibited”) offences rather than mala in se (“wrong or evil in itself”). The work situates regulatory

    offences within the broader criminological debate regarding financial crime. It then analyses and reviews the

    significance of the requirement for certainty in relation to mala prohibita offences. By reference to some

    Australian offences, the analysis moves to some offences where uncertainty manifests. Finally, the work

    proposes some practical ways in which those in positions of control and influence may provide certainty to

    those under them to ensure integrity.

    Findings – The paper argues that a paramount step for those in positions of control and influence, in taking

    steps to ensure the integrity of those under them and also the relevant conduct of their customers and clients

    is to provide certainty with regard to the illicit activities relevant to their organisation to those persons under

    them. The work proposes some practical ways in which those in positions of control and influence may

    provide certainty to those under them to ensure integrity.

    Originality/value – The work is novel because of its focus on regulatory mala prohibita offences rather than

    the traditional criminal law or mala in se offences (in relation to which there has been much more discussion).

Publication Date


  • 2017

Citation


  • M. Leighton-Daly, 'Certainty and financial crime control' (2017) 24 (4) Journal of Financial Crime 678-690.

Scopus Eid


  • 2-s2.0-85032967740

Number Of Pages


  • 12

Start Page


  • 678

End Page


  • 690

Volume


  • 24

Issue


  • 4

Place Of Publication


  • United Kingdom