More attention on financial aspects of crime
The institutions of justice find it difficult to address corruption
in the context of purely commercial and private sector transactions,
said EU Consultant Prof. Barry Rider.
He was delivering a lecture on Accountability and Responsibility
promoting integrity in the Financial Sector at the Central Bank
Auditorium on Tuesday.
He said perhaps this is not surprising given the dominance of the
notion of unfairness’ as justifying intervention and uncertainty to
utilize this concept as a source of obligation in general, legal and
business dealings. It is only when dedication to promoting good
stewardship combines with the concern to promote fairness that seem
willing and able to intervene.
Prof Rider said that the concept of corruption is protein and has
meant different things at different times in different societies.
While most people have an understanding of what is corrupt, rather as
the “inner voice” as St Paul would have it, when it comes to
articulating and controlling such conduct through the law and
institutions of the traditional justice system, real problems of
definition, scope and proportionality arise.
He said that during the past twenty years one of the principal
strategies in fighting serious crime, particularly criminal activity
that is motivated by economic gain has been to attack, through a number
of legal devices, the proceeds of crime.
At the same time, more attention has been given, for a variety of
reasons, to the financial aspects of crime and in particular the
development of financial intelligence.