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Globalization and the Challenge of Regulating Transnational Financial Crimes

  • Nlerum S. Okogbule
Chapter
Part of the International Library of Ethics, Law, and the New Medicine book series (LIME, volume 68)

Abstract

The chapter examines the challenges posed to the regulation of transnational financial crimes by the processes of globalization. Acknowledging that globalization has promoted greater integration of states into the international economy through interconnection of markets, financial services and capital, it argues that the products of technological advancements, such as computer and the Internet, have been increasingly used and exploited by criminals in the perpetration of transnational financial crimes. It demonstrates that the existing national and international legal instruments and mechanisms have been unable to sufficiently grapple with the problems of transnational financial crimes and suggests that more emphasis be placed on enhanced preventive measures, such as increased electronic surveillance, modernization of applicable legal rules along these lines, international co-operation and the cultivation of a global ethical consensus on the subject.

Keywords

Money Laundering Financial Transaction Criminal Matter Security Vulnerability Transnational Organize Crime 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer International Publishing Switzerland 2016

Authors and Affiliations

  1. 1.Rivers State University of Science and TechnologyPort HarcourtNigeria

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