Constantin Stefanou and Helen Xanthaki
Seen as one of the major international instruments in the fight against organised crime, the 1991 Money Laundering Directive 91/308/EEC has been the EU's main weapon in its…
Abstract
Seen as one of the major international instruments in the fight against organised crime, the 1991 Money Laundering Directive 91/308/EEC has been the EU's main weapon in its endeavours to ensure that the liberalisation of the financial markets and the consequent freedom of capital movements ‘… is not used for undesirable purposes, such as money laundering’. However, in view of changes in the 1990s at the national and EU levels and in the international environment, the 1991 directive is no longer considered an effective and adequate legislative instrument in the field of money laundering. The legislative response of the EU to these changes is the Draft Money Laundering Directive which has recently been put forward by the Commission and has been — somewhat unexpectedly — wholeheartedly supported by both the Council and the European Parliament (EP).
Constantin Stefanou and Helen Xanthaki
The Greek regime on money laundering tends to be unknown to most foreign experts. This is partly due to the language barrier and partly due to the admittedly minimal bibliography…
Abstract
The Greek regime on money laundering tends to be unknown to most foreign experts. This is partly due to the language barrier and partly due to the admittedly minimal bibliography on the regulation of money laundering both within the country and outside it. The limited bibliography is emphasised by a total lack of recorded criminal cases for money laundering brought before the Greek courts. The aim of this article is to present and examine Greek legislation and policy on money laundering. The necessity for a dedicated legislative text, hotly disputed by some legal experts in Greece, and the two Greek attempts at compliance with the EU Money Laundering Directive will be examined, as will the political parameters of this issue. Their repercussions on the enforcement of money laundering legislation will be assessed.
The purpose of this paper is to examine the use of EU‐wide databases as a means of combating organised crime.
Abstract
Purpose
The purpose of this paper is to examine the use of EU‐wide databases as a means of combating organised crime.
Design/methodology/approach
The paper looks at three specific examples of proposed databases: networking national criminal records; the creation of a European criminal record; and a database for investigations and prosecutions.
Findings
The paper concludes that, while such databases are feasible and useful tools in combating organised crime, until there is progress in harmonising criminal law and procedure they will be resisted by Member States.
Practical implications
EU‐wide databases are feasible and can assist in combating organised crime.
Originality/value
The paper has value for researchers, practitioners and policymakers.
Details
Keywords
The purpose of this paper is to assess the real reasons behind the widely accepted view that the European Anti‐Fraud Office (OLAF) is not performing to its full potential.
Abstract
Purpose
The purpose of this paper is to assess the real reasons behind the widely accepted view that the European Anti‐Fraud Office (OLAF) is not performing to its full potential.
Design/methodology/approach
The approach takes the form of consideration of the main points of the regulatory framework and analysis of lacunae in the current and proposed framework.
Findings
The paper attributes ineffectiveness, in part, to the conflicting and vague regulatory framework within which OLAF is requested to operate.
Originality/value
The paper provides a list and an analysis of the main lacunae in OLAF's regulatory framework, an operation which has been neglected in the academic literature.