Internationalization of Financial Systems and the Impact of Technology

9 Pages Posted: 23 Feb 2011

Date Written: September 8, 2004

Abstract

This paper was presented by the Author at the Cambridge Symposium on Economic Crime in Cambridge, England.

The global interconnectedness of crime today is unlike anything we have ever seen before. And because of all of this, it became obvious that we need to start thinking in very different ways about the nature of crime. Some creativity is needed.

We need to make use of technology to allow a greater focus on an integrated and intelligence-led approach. This means, international coordination as we have never had before. We require a culture in which “whistle blowing” is strongly encouraged. Next, we need to couple that with a crime reporting system that is able to get over the high hurdles caused by numerous regulatory borders and concern for sovereignty.

In Canada, we are generally optimistic that we have come a long way in the past few years in strengthening enforcement and reassuring jittery investors, but we know that there is still much more to do.

Our Canadian RECOL system of complaint distribution is being used as a pilot for the G8 Law Enforcement Projects Sub-Group (“LEPSG”) to encourage more and more countries to join us in an international intelligence sharing project.

Keywords: Integrated Market Enforcement Teams, Capital Markets Crime, Royal Canadian Mounted Police, RCMP, Recol.ca, Intelligence-Led Policing, Integrated Policing

Suggested Citation

Sliter, John R., Internationalization of Financial Systems and the Impact of Technology (September 8, 2004). Available at SSRN: https://ssrn.com/abstract=1767504 or http://dx.doi.org/10.2139/ssrn.1767504

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