Challenges in the Field of Economic and Financial Crime in Europe and the US

In the past few years, criminal justice systems have faced important global challenges in the field of economic and financial crime.

Moreover, continuous technological evolutions and socio-economic developments make the distinction between socially desirable and undesirable behaviour more problematic. Besides, economic and financial misconduct is notoriously difficult to detect and investigate. In light of these challenges, legislators and law enforcers have been searching for adequate responses to combat economic and financial crime by adapting existing policies, norms and practices and by creating new enforcement mechanisms.

The purpose of this volume is to analyse those challenges in the field of economic and financial crime from different perspectives, and to examine which particular solutions criminal justice systems across Europe give to those challenges. The volume has four chapters. The first chapter focuses on a number of key questions with respect to substantive criminal law, whereas the second chapter will address issues affecting the administration of justice and criminal procedure.

1. Current Challenges in Economic and Financial Criminal Law in Europe and the US

Katalin Ligeti and Vanessa Franssen

Part I: Challenges with Respect to Substantive Criminal Law

2. Prosecutors and Judges as Corporate Monitors? The US Experience

Bruce Zagaris

3. The Necessity of Compliance Programmes Under German Law-'Burden' or 'Blessing'?

Alexander Cappel

Part II: Challenges with Respect to the Administration of Justice and Criminal Procedure

4. Detecting Economic and Financial Crime: A Special Toolkit of Investigation Techniques in Luxembourg

Jeannot Nies

5. The Role of Whistleblowing and Leniency in Detecting and Preventing Economic and Financial Crime: A Game of Give and Take?

Christopher Harding

6. Negotiated Justice-Balancing Efficiency and Procedural Safeguards

Sabine Gless and Nadine Zurkinden

Part III: Challenges with Respect to Multi-agency Cooperation and Multi-disciplinary Investigations

7. Cooperation Between Administrative Authorities in Transnational Multi-agency Investigations in the EU:

Still a Long Road Ahead to Mutual Recognition?

Lothar Kuhl

8. Jurisdictional Issues in Transnational Multi-agency and Multi-disciplinary Investigations of Economic and Financial Crimes

John Vervaele

9. Transnational Multi-disciplinary Investigations and the Quest for Compatible Procedural Safeguards

Michiel Luchtman

10. The Consecutive Application of Different Types of Sanctions and the Principle of Ne Bis in Idem: The EU and the US on Different Tracks?

Martin Böse

Part IV: Challenges with Respect to Shared or Integrated Enforcement Models

11. Challenges in the Field of Economic and Financial Crime from a European Perspective

Jeroen Blomsma

12. Enforcing Prudential Banking Regulations in the Eurozone: A Reading from the Viewpoint of Criminal Law

Silvia Allegrezza and Ioannis Rodopoulos

13. Strategy of Integrated Enforcement: The UK Competition and Markets Authority

Stephen Blake