Financial crimes: the constant challenge of seeking effective prevention solutions

Abstract

Purpose

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.

Design/methodology/approach

Based on financial crime literature and field work.

Findings

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

Research limitations/implications

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

Originality/value

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

Citation

Michel, P. (2008), "Financial crimes: the constant challenge of seeking effective prevention solutions", Journal of Financial Crime, Vol. 15 No. 4, pp. 383-397. https://doi.org/10.1108/13590790810907227