NCJ Number
183844
Journal
Journal of Financial Crime Volume: 7 Issue: 4 Dated: April 2000 Pages: 324-329
Editor(s)
Barry A. K. Rider
Date Published
2000
Length
6 pages
Annotation
The crime of grand corruption is discussed in terms of the seniority of the public officials involved, the size of the wealth that is acquired, and the acquisition of wealth by illegitimate means.
Abstract
There are two broad types of corrupt activity: bribery and theft. Several international initiatives have been implemented to combat corruption, such as those developed by the Organization for European Cooperation and Development (OECD), the European Union, the Council of Europe, the United Nations, the World Bank, and the International Chamber of Commerce. Officials in the United Kingdom (UK) believe the OECD Convention dealing with corruption is the most important initiative. The OECD Convention addresses extra-territorial jurisdiction issues and steps a country should take to prosecute criminal conduct committed abroad by its citizens. The Criminal Justice Act of 1988 stipulates that criminal conduct abroad can be prosecuted in the same way had it occurred in the United Kingdom. The role of banks and other intermediaries in the UK in handling the proceeds of corruption and the criminal liability of financial institutions are considered. 16 references