NCJ Number
189179
Journal
European Journal on Criminal Policy and Research Volume: 9 Issue: 2 Dated: Summer 2001 Pages: 197-219
Date Published
2001
Length
23 pages
Annotation
This article illustrates a spectrum of financial crime by examples from Greece.
Abstract
The article discusses financial crime ranging from customs violations, European Union fraud, tax evasion, stock market fraud, illegal use of intellectual property, electronic and Internet crime, to environmental pollution, illegal trafficking of personal data, and corruption. The article notes that, while various countries have undertaken campaigns against financial crime, a more rigorous line of attack is required, including lifting those unnecessary, restrictive conditions of economic life which draw citizens to financial crime. However, the article cautions, tackling financial crime within the existing, individual-oriented penal system, a system based on the traditional principles of responsibility and legality, will necessarily create a multitude of problems. In Greece, this system neither recognizes penal responsibility for corporations and other judicial persons nor allows penal prosecution of persons who simply exploit the law's shortcomings and loopholes, as is the case with most economic offenders. Apart from other strategic measures that must be taken at political, economic, and social levels, it is vital for some countries to renovate their existing penal structure towards a more modern, society-oriented model capable of meeting the needs of an integrated European Community. Note, references