Fighting financial crime: failure is not an option

Abstract

Purpose

The purpose of this study is to provide an overview of some of the deficiencies in the criminal justice system in Jamaica, particularly relating to financial crime. The author also examines possible alternatives in the approach that may be taken in tackling financial crime.

Design/methodology/approach

The methodology used was a review of data on financial crime in Jamaica as well as recent significant cases. An analysis of key pieces of legislation was also undertaken. In some instances, a comparative approach was invoked, with special reference to the UK and US laws.

Findings

Some essential findings include the positive impact that may be gained from restorative justice principles, the effective enforcement of asset recovery provisions and stricter regulation of the financial services industry.

Originality/value

There is no similar comprehensive examination of these issues concerning Jamaica.

Citation

Ali, S. (2020), "Fighting financial crime: failure is not an option", Journal of Financial Crime, Vol. 27 No. 1, pp. 1-23. https://doi.org/10.1108/JFC-04-2019-0050