Stephen Platt & Associates LLP is delighted to announce the publication by Stephen Platt of a new book entitled Criminal Capital.
The book is the first of its kind to examine the (often unwitting) role played by the financial services industry in facilitating crime and laundering criminal property by analysing the vulnerability of banks, brokerages, trust companies and investment funds to criminal abuse.
Criminal Capital examines the causal factors that link harmful behaviours in finance including mis-selling, rate fixing, sanctions evasion money laundering and the facilitation of terrorism, drugs, human trafficking, corruption, piracy and tax evasion. It also considers why such behaviours correlate with the excessive risk taking that toppled the global economy in 2008.
Covering the role of both on and offshore finance centres, the book also considers the limitations of the money laundering model relied upon by many regulators and finance industry practitioners to identify abusive customer relationships. The book proposes a new model of money laundering prevention and makes suggestions for the improvement of financial regulation.
Welcoming publication, Stephen Platt commented 'This book is the product of two decades of experience on my part of investigating situations where financial crime prevention efforts have failed - often through no fault of instiutions and people concerned. With criminals deploying increasingly sophisticated techniques to abuse financial services for their own ends, it is harder than ever for firms and regulators to keep up. I hope that this book will help regulators and licensees to better understand the sources of their vulnerability to criminal abuse, and that it will feed into the debate about how we produce regulation which is more effective, rather than merely more extensive.'
Criminal Capital is published by Palgrave Macmillan and is available to purchase here.