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Modern Trends in Economic Crime Law: Evolution, Challenges, and Implications

Delve into the complex world of economic crimes such as bribery, fraud, and money laundering, examining their historical roots and the impact of globalization, changing norms, and evolving regulations on criminality and market activities. Explore the intersection of criminal law, taxation, international obligations, and the roles of professionals in combating financial crimes in today's interconnected society.

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Modern Trends in Economic Crime Law: Evolution, Challenges, and Implications

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  1. Law of Economic Crime Peter Alldridge Valsamis Mitsilegas David Ormerod

  2. Major Groups of Crimes • Bribery/Corruption • Fraud • Money Laundering • 20 years ago?

  3. Recurrent themes • Globalisation • Regulation of Markets • Changing notions of criminality • Changing roles of professionals • ECHR • The taxation system • International obligations of UK • Fraud, Bribery, Laundering as part of criminal law • Terrorist finance

  4. Globalisation • Speed esp by Technology • Information transfer • Borders and jurisdiction • International collaboration • International competition • Multinational companies • International Policing

  5. Regulation of Markets Weights and Measures – Magna Carta 1215 Assize of Bread and Ale of 1266 Smuggling R v Jones “Shall we indict one for making a fool of another?”. (1703) Salk 379; 91 ER 330 Larceny Act 1757 30 Geo II c.24 (1757), given full rein by Young (1800) 3 Durnford & East 98; 100 ER 475 Compare Nathan Rothschild and the Battle of Waterloo De Berenger (1814) 3 M & S 67; 105 ER 536 Share-pushing and other impetus selling Monopolies cartels and other anti-competitive practices MLRs 2008

  6. Changing notions of criminality • Theft v fraud • “white collar” vs “regular” crime • Criminal law as a mechanism of market regulation • Market manipulation as a criminal matter • The “war on drugs” • Bribery and foreign trade • Bribery and politics • Politics and insider dealing • Tax and crime • Criminal law and other sanctions

  7. Changing notions of the obligations of professionals • Third party policing • Bankers and accountants • Lawyers • Academics (!)

  8. Criminal Law and Criminal Justice • ECHR • Article 6 • confiscation • “presumption of corruption” • Article 7 and certainty in • Conspiracy to defraud • Cheating the Revenue • First Protocol Forfeiture, confiscation and civil recovery

  9. Taxation and Criminal Justice • Treatment of tax fraud • HMRC powers to impose penalties • ‘distinction evasion/avoidance • Advent of self-assessment and increased rates of prosecution • Taxation and sovereignty - OECD Harmful tax convention

  10. International Obligations of UK • Bribery overseas OECD UNCAC • Obligations in respect of laundering FATF

  11. Domestic Criminal Law and Criminal Justice • Relationship to the ‘war on drugs’ and ‘war on terrorism’ • Enforcement policies • Moral Entrepreneurship • ‘Regular’ criminal law jurisprudence on gravity of offences, duties to inform, tipping off and mental states

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