Financial crime: Why are securities markets vulnerable?

Jonathan Ehrenfeld
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Jonathan Ehrenfeld: Strategy Director, SWIFT, Belgium

Journal of Securities Operations & Custody, 2021, vol. 13, issue 4, 346-353

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.

Keywords: securities; due diligence; AML; compliance; capital markets; ISSA; FATF (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2021:v:13:i:4:p:346-353

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