Copyright Rob Jerrard ©
International and European Financial Criminal Law
Authors: Ilias Bantekas, LLB (Athens), LLM, PhD (Liverpool), DipTheo (Cantab), Reader in Law, Westminster Law School; Professorial Fellow at Harvard Law School (2003-04) and; Giannis Keramidas, LLB (Essex), LLM (Kent), PhD (Lon), Lecturer in Law, Westminster Law School; Editor of Journal of Money Laundering Control
Publishers: LexisNexis Butterworths
Publication Date: September 2006
Publisher’s Title Information
International and European
Financial Criminal Law explains in detail the criminal elements and regulation
of international and transnational financial transactions.
Using a practical, transactional focus, the book aims to be a one-stop shop on legal issues relating to international financial crime. Containing authoritative content from an expert team, International and European Financial Criminal Law is simply the most comprehensive title on this subject available.
Introduction: The Legal Nature
and Scope of International Financial Crime;
A - SUBSTANTIVE LAW;
2. EU Money Laundering;
3. International Money Laundering Regulation;
4. Organised Crime and its Impact on Financial Markets;
5. Terrorist Financing;
6. Transnational Corporate and White Collar Crime;
7. Transnational Securities Fraud and Criminal Misconduct;
8. Criminal Liability of Banks and Credit Agencies;
9. Corruption in International Law;
10. Criminal Implications from the Violation of Anti-Trust Law;
11. Criminal Implications from Transnational Tax Evasion;
12. Fraud against the EU Budget;
B - PROCEDURE AND ENFORCEMENT;
13. Proceeds of Crime and Civil Remedies;
14. Mutual Legal Assistance and Extradition;
15. EU Mechanisms Detecting and Combating Financial Crime;
C - PRACTICAL MATTERS;
16. Risk Management;
17. Systems and Controls;
18. Training Staff;
D - APPENDICES.
This highly advanced academic law book consists of 334 pages with 13 self-contained chapters written by thirteen eminent academic lawyers. The prestige of this book derives from its authors and editors.
Ilias Bantekas, Professor of International Law and Head of Law at Brunel University, wrote Chapter 1 - The Legal Nature of International Financial Crime. The chapter describes the nature of international financial crime, the sources of international financial crime and the criminalisation process, forms of personal and corporate criminal liability and concludes that we are far from any harmonisation of what can be termed international financial crime.
Chapter 2 is written by Giannis Keramidas, law lecturer at Westminster University. It deals with money laundering and relates, "The methods and trends in money laundering are open-ended with many implications for a significant variety of industries".
Chapter 3, by Dr. Valsamis Mitsilegas, Senior Lecturer at Queen Mary, University of London, deals with international regulation of money laundering and terrorist finance. "The past two decades witnessed a plethora of measures at the global level aimed at countering money laundering, these measures recently extended to fight terrorist finance", he said.
Chapter 4, by Professor Iain Cameron, University of Uppsala, is about terrorist financing in International Law, dealing with The Financial Action Task Force, The Convention for the Suppression of the Financing of Terrorism, and so on. This chapter states, “The EU Member States have partially transferred their legislative competence over financial services to the EC.” Many might debate this statement.
Chapter 5, by Brian Sheba, international tax examiner for the US Department of Commerce’s International Trade Administration, discusses transnational corporate and white-collar crime. It includes the Enron fraud, the Parmalat fraud, and US legislation after Enron.
Chapter 6, by Professor Helen Xanathaki, Institute of Advanced Legal Studies, University of London, is about OLAF, the EU’s fraud regulator. OLAF conducts administrative investigations within the Community institutions, bodies, offices and agencies as well as investigations of serious matters relating to the discharge of professional duties.
The other chapters are in a similar vein, concluding with Chapter 13, by Dr.Anna Odby, a solicitor at Peters and Peters . Anna’s chapter is titled "The European Union and Money Laundering: The preventive responsibilities of the private sector". Her chapter is a critical analysis of the money-laundering regime and I was tickled to read what she had to say about some of the EU legislation. At 13-16, she wrote: “The Third Directive replaces the amended Directive in its entirety, "for reasons of clarity" (Recital 45). However, the new Directive itself marks a considerable departure from its concise, 18-article long predecessor, with its 48 recitals and 47 articles divided into 7 chapters. The resulting complexity is exacerbated by repetition and overlap and by the additional implementing measures yet to be adopted by the Commission". In other words, the EU is a self-perpetuating industry…as many have thought.
This book is the best of its kind in the extremely academic, specialist subjects of International Law, Financial Law and International Criminal Law. It is written for those who are drafting national and international legislation and for those who have at least a doctorate in the subject of international financial crime. For these specialists, it will prove a great boon.
Fraud: Law, Practice and Procedure
Edition: HB Loose-Leaf
Authors: Consultant Editors: The Honourable Mrs Justice Linda Dobbs QC, Gerallt Owen, Gary Summers, Sue Thackeray
Publishers: LexisNexis, Butterworths
Publication Date: November 2004 (Issue 5 May 2007)
Publisher’s Title Information
Corporate fraud, money laundering, financial scandals, corruption and bribery – these are all topics that are never far from newspaper headlines. The first major work from
Butterworths on fraud, this single volume loose-leaf holds 57 specially
commissioned chapters from acknowledged experts. The authors include
solicitors, counsel, accountants and other professionals, so that the work
provides an overview of all types of fraud, prevention, detection, and
Fraud: Law, Practice and Procedure is designed to provide authoritative legal text with practical guidance. The logical structure of the text begins by defining the legal framework of fraud, then it takes readers through procedure and evidence, the conduct of cases, sentencing, investigation, prosecution, management and regulation, and civil remedies.
As the law and procedures change rapidly to keep up with technological developments, this loose-leaf work will grow and change, to provide the most comprehensive and up-to-date fraud service available.
Part 1-The Legal Framework;
Introduction: The Concept of Fraud, Theft Act Offences, Common Law Offences, Frauds on Investors, Corruption, Insider Dealing, HM Revenue and Customs, Money Laundering, Fraudulent Trading and Other Frauds on Creditors, Regulatory Offences, Criminal Cartel Offence, Cybercrime, Fraud on the Consumer, Identity Fraud.
Part 2 - Procedure and Evidence:
Procedural Considerations, Evidential Considerations, The Investigator’s Perspective, Cross Border Fraud, Mutual Legal Assistance/International Co-operation, Extradition.
Part 3 - The Conduct of Serious Fraud Cases:
The Serious Fraud Office and Other Bodies, Prosecution Disclosure, The Indictment, Using the Criminal Justice Act 1987 Framework, Presentation, Preparing for Interview: Protecting your Client’s Legal Rights, Defending Cases, Financing the Case, Abuse of Process and Delay, Evidence and the Expert Witness.
Part 4 - Sentencing and Confiscation:
Sentencing, Restraint and Confiscation, The Proceeds of Crime Act: Civil Recovery Regime, Overseas Assets, Enforcement in the Criminal Courts, The Role of the Court Receiver, Corporate Governance.
Part 5 - The Investigation of Fraud:
The Investigator, Investigative Interviewing and Recording of Interviews, The Forensic Accountant, Voice Identification Evidence, Handwriting and Signature Evidence, The Forensic Examination of Documents, Forensic Computing, Computerising the Handling and Management of Cases: Approaches and Issues.
Part 6 - Remedies aiding the Control and Management of Fraud:
Employment Law and Disciplinary Procedures, The Insolvency Route, Directors Disqualification, Competition Law Considerations: OFT Powers of Investigation, Competition Law Considerations: Disqualification of Directors for Competition Offences, Civil Fraud Actions and Parallel Criminal Proceedings, the Collateral Use of Information and Evidence in Other Proceedings.
Part 7 - Remedies in the Civil Courts:
Freezing Injunctions and related process, Tracing Assets, The Role of the Court Receiver and Trustee in Civil Recovery.
Reviews to date
"...I know of no other work which provides such an
opportunity to review the whole horizon of white-collar crime, albeit that view
must, of necessity, be a brief snapshot..." (The Tax Journal - Issue 810,
24 October 2005)
"...a well written and thoroughly researched Loose leaf work clearly presented in seven parts..." (Independent Director Quarterly (E-Mail Newsletter) 3 February 2005)
"...it is an excellent work, which will be at my side in future fraud cases. I commend it to all practitioners and judges whose work lies in this field..." (The Honourable Mr Justice Rupert Jackson)
Note from the Editors
The title "Fraud: Law; Practice and Procedure" encapsulates the essence of this work. We could just as well have called it, "All you need to know about fraud' and whilst the sales might have soared, it would probably have been for the wrong reasons! Another name for the work could have been "An Encyclopaedia of Fraud', but the title conjures up volumes of dense information rather than an easy to use and accessible publication, which is the intention of this work.
We have now reached the fifth issue. With each edition, the editors and the authors are looking at ways to improve the publication by making it more user-friendly, practical and contemporary. Different formats of delivery are also being considered. The markets for which this work has relevance are wide and we are doing our best to ensure that the needs of those different markets are met, largely by seeking to make the work as practical as possible, whilst covering the essential law and procedure involved. The publication is a living work, which will change and adapt to suit the needs of its readers.
In order to improve the work and the service it offers, we welcome and positively invite feedback by way of comment and suggestions. Are there any areas which you feel ought to be covered by the book? Are there any areas which are not covered in sufficient detail? Are there any chapters which are not practical enough? These and many other issues are central to the work's purpose and without them being addressed, we cannot ensure that the product you receive is one with which you are content. Please send all your comments to Judith Anderson, Senior Editor, LexisNexis Butterworths, Halsbury House, 35 Chancery Lane, London WC2A I EL, telephone 020 7400 2748, or email at firstname.lastname@example.org.
We will take them into account and where appropriate feed them into future issues.
How is this Text updated?
Butterworths Fraud: Law, Practice and Procedure will be kept up to date by regular service issues. Updating material in service issues is presented in the form of replacement pages. The relevant existing page is removed and the new page, containing the latest information, is inserted. Service issues should be inserted according to the instructions which accompany them. Please fill in the filing record card at the back of the binder after inserting each issue, in order to know at a Glance whether your copy of the work is up to date. The checklist at the back of the binder enables you to ensure that your copy is correctly filed. The binder mechanism is explained on the Filing Record and Instructions guide card at the back of the Binder.
With the enactment of the Fraud Act 2006 this is a good time to be in possession of such an important book as this. The title is "Fraud: Law, Practice and Procedure". Albeit the authors say they may just as well have called it, "All you need to know about fraud".
This is now the fifth issue of what is a practical and essential coverage of fraud. With this issue the following chapters have been updated, viz, Introduction: the Concept of Fraud; Theft Act Offences; Common Law Offences; The Serious Fraud Office and Other Bodies and the Role of the Court Receiver and Trustees in Civil Recovery.
Chapter 2 - Theft and Fraud Act offences has been rewritten because as of 15 January 2007 the Fraud Act 2006 abolishes all the familiar Theft Act 1968 and 1978 deception offences. The new offences apply wholly after 15 January 2007, which had left a long transitional period, thankfully nearly (as of 27 December) over. This chapter covers it fully.
The book covers, the Legal Framework, Procedure and Evidence, the Conduct of Serious Cases, Sentencing and Confiscation, the Investigation of Fraud, Remedies Aiding the Control and Management of Fraud and Remedies in the Civil Court. It can truly be said to cover fraud very comprehensibly because in addition it contains the Criminal Procedure Rules 2005, Disclosure for the control and management of used material and serious fraud protocol 22 March 2005.
It will of course have to be kept up-to-date. However as it stands as of May 2007 it does represent a substantial publication and being loose-leafed means that it can be amended as the Common Law develops, as it indeed will as cases come to court under the new Fraud Act 2006.
It will be vitally important as prosecution and defence teams move away from the old distinctions that have been with us for so long, eg, between obtaining and appropriation, minds must now focus on :-
Fraud by false representation - s2;
Fraud by failing to disclose information - s 3;
Fraud by abuse of position - s 4;
Possession of articles for use in frauds - s 6;
Making or supplying articles for use in frauds - s 7;
Obtaining services dishonestly - s 11.
The Authors are correct in saying that this should undoubtedly remove some technical hurdles which often complicate the prosecution of the old deception offences. The other is their sheer breadth: in seeking to simplify the prosecution of fraud, the Act appears to have criminalised even the most de minimis dishonest conduct.
It will be interesting to see how it all develops.
Does it really seem like 39 years ago that we all sat in a classroom to learn the 'new' Theft Act offences?