The Enforcement of the Rule of Law in the Financial Sector: The Strategic Synergies among Judicial Authority and Financial Supervisory Authorities

Carlo Alberto Giusti


A recent research work conducted in the Bank of Italy analyzed the relationship between the slowdown in economic activity in Italy in the years of the crisis - from 2008 to 2011 – e the intensification of criminal incidents. The results show that the economic crisis had a impact only on certain types of criminal activities, ie on property and financial offenses especially on those who do not require particular criminal abilities, such as theft. In line with the recent European directives, economic crimes must be combated by pursuing both the objective of law enforcement and that of economic development. A balanced strategy of prevention and suppression must be found upon rules that lay down clearly formulated obligations; that avoid intrusive instruments and rigid procedures; that do not overburden honest businesses; that institute mechanism of enforcement and sanctions that are swift, effective and proportionate to the seriousness of the infractions; that provide incentives for intermediaries to collaborate with the structures that fight money laundering; and, in conclusion, that strengthen domestic and International cooperation among authorities.

Relevant Publications in Journal of Research in International Business and Management