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Financial crime: Why are securities markets vulnerable?

Author

Listed:
  • Ehrenfeld, Jonathan

    (Strategy Director, SWIFT, Belgium)

Abstract

In the last five years, regulators have begun to focus on compliance and money laundering risks specific to securities markets. It is clear to them that the ways in which securities are issued, traded, cleared and settled create a series of opportunities for criminals and that these opportunities make the securities industry vulnerable to financial crime. This paper explains where the vulnerabilities lie in securities markets, explores the regulatory and financial consequences for individual firms of failing to address these vulnerabilities, identifies guides to action and obstacles to effective compliance and discusses how they can be overcome at affordable cost.

Suggested Citation

  • Ehrenfeld, Jonathan, 2021. "Financial crime: Why are securities markets vulnerable?," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 13(4), pages 346-353, August.
    • Handle: RePEc:aza:jsoc00:y:2021:v:13:i:4:p:346-353
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    More about this item

    Keywords

    securities; due diligence; AML; compliance; capital markets; ISSA; FATF;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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