About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

26 J. Fin. Crime 2 (2019)

handle is hein.journals/jfc26 and id is 1 raw text is: Editorial Journal of Financial Crime Vol.26 No.1,2019 pp. 2-4 Erald Publishing Limited 1359-0790 DOI 1&I10WJC-09-201&0103 Unexplained wealth The Cambridge Symposium on economic crime, now in its 36th successive year, has established itself as perhaps the leading international non-governmental forum for the analysis and discussion of issues related, in the broadest sense, to the prevention, interdiction and management of economically motivated crime and misconduct. It was originally conceived as a vehicle for bringing together those with an interest in the protection of their economies and economic actors from the threats of economic crime. Countries whether developed, developing or in transition all experience the consequences of economically motivated misconduct, albeit manifesting in rather different ways. While business vehicles have always been susceptible to misuse in the furtherance of fraud and other forms of misconduct, with the emphasis that is now placed on attacking the value incentive of acquisitive crime, through laws seeking to deprive criminals of their ill-gotten advantages, the risk to the financial and business sectors - in being inveigled willingly or otherwise into the reach of the criminal law, is so much greater. Indeed, as traditional law enforcement agencies and prosecutors have come to terms with the profound difficulties confronting them in securing convictions and have increasingly explored other avenues - such as intelligence led disruption and the utilisation of weapons across the legal and regulatory spectra, the risks for those who manage and invest in business become all the more acute and unpredictable. Indeed, purely in terms of legal consequence the threat of swinging financial penalties imposed on a financial intermediary for a failure of compliance, are likely to be far more real in most societies than bringing as Lord Justice Roskill once put it, the perpetrators of serious fraud expeditiously and effectively to book! In the result - in the world of today, whether we volunteer, we are all in some measure bound into the fight against economically relevant misconduct. Indeed, we all have a stake in the outcome. Consequently, in recent years, the symposium has attracted participation from not only those involved in more traditional law enforcement, but politicians, judges, diplomats, regulators, officials in intelligence and security organisations, academics and those involved in business, particularly compliance, and those who advise them. The annual symposium has traditionally been hosted by Jesus College within the University of Cambridge, but is supported by a large number of academic, research and professional organisations throughout the world. It also enjoys the support of a number of key UK agencies such as the Serious Fraud Office, Crown Prosecution Service, National Crime Agency, Metropolitan Police and City of London Police. The blend of institutions and bodies that come together in this manner is unique and provides a platform that is sufficiently multi-disciplinary to properly address - at many levels the risks that face our economies and in particular financial institutions. While the symposium attracted this year almost 2,000 participants from over 100 countries as it is organised on a non-profit making basis with only a proportion of paying delegates it is dependent on the generosity of sponsors. Indeed, notwithstanding the high level of interest in the financial institutions and within the compliance industry, it is surprising how unwilling these institutions are in practice to cover even the direct costs of those they send to Cambridge. This year, as in previous years - not withstanding all the well know banks and other financial institutions vying to present and exhibit their expertise, there were more registered paying delegates from Fiji than from the whole of the UK financial sector! It is difficult to reconcile this in the minds of many with the rhetoric from JFC 26,1

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most