Investigation and Prevention of Financial Crime

So long as there are weaknesses that can be exploited for gain, companies, other organizations and private individuals will be taken advantage of. This theoretically-based but hugely practical book focuses on what is generally seen as financial or economic crime. The author categorizes such profit-driven crime according to type, as theft, fraud, manipulation, and corruption. Providing a source of authoritative and detailed information on understanding the methods used in all these types of economic crime and the steps that can be taken to avoid and combat it, 'Policing Financial Crime' addresses important topics including organized crime, money laundering, cybercrime, corruption in law enforcement agencies, and whistle blowing. The author considers how, in some competitive environments, goals can 'legitimise' all kinds of means, and how culture can exert a role in relation to what is seen as acceptable or unacceptable behaviour by individuals. Petter Gottschalk's very special area of interest and expertise, however, is about strategies for the use of intelligence to combat financial crime and the uniqueness of his approach to the subject lies in the way he is able to explain intelligence and intelligence processes in the wider context of knowledge and knowledge management. While data are numbers and letters without meaning, information is data in a context that makes sense. Information combined with interpretation and reflection is knowledge, while knowledge accumulated over time as learning is wisdom. In this hierarchical structure we find intelligence as more than information, while less than knowledge. Intelligence is analyzed information. Intelligence can provide the basis for opening a new criminal case, it can be applied to the investigation of existing criminal cases, it can be used to reallocate police resources based on new crime patterns and actors, and it can be used for preventive measures. Numerous case studies throughout the book illustrate the 'policing' of financial crime from an intelligence, knowledge management and systems perspective. Law enforcers, lawyers, security personnel, consultants and investigators, as well as those in auditing and accountancy and with responsibilities for containing risk in banks, other financial institutions and in businesses generally, will find this an invaluable source of practical guidance. The book will also be of interest to advanced students and researchers in criminology and police science.