The Dynamics of Investigating and Prosecuting Financial and Economic Crimes in the UK
Alessandro Bernardi and Daniele Negri, Investigating European Fraud in the EU Member States (Hart Publishing, 2017) ISBN: 9781509903610
Posted: 17 Jan 2018
Date Written: 2017
The chapter provides an overview of operational models deployed by a selection of the numerous agencies and bodies in the UK, with a mandate to investigate and prosecute economic and financial crimes. In addition to the police and the Crown Prosecution Service, we will consider the National Crime Agency, the Serious Fraud Office, and the Financial Conduct Authority.
As noted by the European Commission, the range of crimes at national level under which the “protection of the financial interests of the European Union” could fall are broad and varied across the Member States. According to section 6(3) of the Financial Services and Markets Act 2000, in the UK a financial crime is said “to include any offence involving (a) fraud or dishonesty; (b) misconduct in, or misuse of information relating to, a financial market; or (c) handling the proceeds of crime”. The term ‘to include’ means that ‘financial crime’ can be interpreted widely to include a range of offences. These include but not limited to: fraud, bribery and corruption, insider dealing and market abuse, and money laundering.
This book offers a detailed overview of the rules regarding criminal investigations into financial-economic criminality in the EU's main legal systems. These rules have become fundamental to the effective protection of the Union's financial interests. It undertakes a comparative study of six national legislatures (Italy, Spain, France, Germany, Poland, the UK) which serve as paradigms of the different judicial systems existing in the Union, in order to offer a complete overview of the different approaches to financial-economic investigation in the EU. The work is further enriched with cross–sectional essays that deal with the more general issues, such as data-protection and the future of investigations in the view of the establishment of the European Public Prosecutor's Office (or EPPO). This provides a wider perspective on the themes considered. The book also examines trans-national issues, providing essential context to the EU's legislative instruments intended to protect the financial interests of the Union.
Keywords: Criminal Law, Fraud, Economic crimes, UK, Financial Crimes, Bribery, Corruption, insider dealing, Financial Conduct Authority, Serious Fraud Office, Prosecution, Investigation
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