LAW 2599 : Criminal Law : Concept of Working with Better Regulation

The topic is about Financial Crimes: The Investigation Process, and am not seeking the perfect answer, rather am looking for a short paragraph of the right answer and reference to source and articles (peer review) / Key author of such topic. Which shall help me more.
1. What is better regulation?
2. What is the relationship between regulation and criminal justices?
3. What is best practice of investigation process?
4. What is ‘complexity’ of financial crimes?

Answer:

Investing Financial Crimes

United Kingdom

In UK, there is a process of investigating the financial crimes. It differs from country to country. The investigation process involves a better regulation in United Kingdom. The concept of working with better regulation involves making sure that there is engagement of transparency throughout the process, the evidence provided must inform about the process of law-making and the policy and lastly, to ensure that the stakeholders and citizens are engaged in the entire process. The purpose of better regulation is to improve the quality of the EU policy and the law making to ensure that the legislation serves the people in a better way with its effects. However, for making an application for the financial investigation procedure engages the employee embezzlement, corruption and other economic crimes against the entities. The first or the basic approach to the financial investigation is the Association of Certified Fraud Examiners. It has been developed for performing the fraud examination. It is beneficial when the forensic accountant has been retained to carry out an investigation within the entity. This model should be altered for applying it to other kinds of financial investigations. In the process of investigation, the steps include planning the assignment, carrying out the background investigations, examining the significant documents, taking interviews of the witnesses, examining the facts and prepare the report based on the information. Every source of information should be kept recorded for further use. The financial statements must be reviewed based on the vertical analysis and horizontal analysis. The bank statements plays a major role as well. The process of investigation will be done based on the jurisdiction of the law of United Kingdom.

USA

The best practice of the investigation process is to follow the basic steps for a solution. There is a process of investigating financial crimes when the normal procedure is followed. However, it can be stated that regulation and criminal justices share a relationship. The power to make laws is therefore shared between the Commonwealth Parliament and the each State Parliament. In USA, it has been observed that the investigating procedure of financial crimes is complex and hence involves the plenty of law enforcement agencies. Thus, in relation to the process of criminal justice, all the defendants are said to be presumed innocent until proven guilty in a criminal court. Hence, the process of investigation includes hundreds of victims. In the process, the agent is usually made the principle contact. If the scenario states that the case is accepted federally for prosecution, each attorney’s office of the United States should have a victim witness program for serving it as the liaison throughout the process for answering the questions in assisting the concerned victims. When the case is indicted, an individual will have the right to information regarding the continuation status of a case. Right to information consists of providing a victim impact statement and requesting restitution when the information is about the release process of the defendant from prison.

International

I The financial crime regulations and the law enforcement initiatives helps in adding to the costs of the financial institutions by driving a need for the technology enabled controls and compliance processes. The process of investigation is fertile ground for the process of automation as it associates with a number of rule based and time-consuming tasks that does not require the human oversight. For making the investigations more efficient the duty of the financial institutions should pursue a range of automation strategies involving the analysis, data acquisition, investigator nudging and automated system health checks among others. In the process of investigation, the basic step involves using open source information. There have been plenty of examples from practice when the evidence of corruption was found through the analysis of the information available. The major source of finding the information is through internet and mass media. The information that is used with the help of electronic means must be kept recorded. Thereafter, there should be a background check of the public officials. In the procedure of investigation, proactive undercover techniques must be used. Cooperation should be present with the witnesses for an outcome of a comprehensive approach. The investigation team while dealing with the cries should make use of independent specialists and experts. However, a forensic accounting is used for investigating the corruption. It can be concluded stating that dealing with the financial crimes internationally, the basic structure of the investigation process is more or less similar.

References:

Blakemore, Brian. Policing cyber hate, cyber threats and cyber terrorism. Routledge, 2016.

Greene, Karen Shalev, and Llian Alys. "Introduction." Missing Persons. Routledge, 2016. 21-26.

Platt, Stephen. Criminal capital: How the finance industry facilitates crime. Springer, 2015.

Ronczkowski, Michael R. Terrorism and organized hate crime: Intelligence gathering, analysis and investigations. CRC press, 2017.

Singh, Dalvinder. Banking regulation of UK and US financial markets. Routledge, 2016.

Wall, David S. "The Internet as a conduit for criminal activity." (2015).