Page 48 - Cyber Defense eMagazine - October 2017

The role of legal regulations in effective proceeding of a financial

crime

By Milica D. Djekic

The financial crime is any sort of economic resources misusing in order to obtain the
private gain. It may include a corruption and bribery, fraud, tax envision, money
laundering and much more – or, in other words, any kind of crime dealing with the
finances. It’s not easy at all to investigate those sorts of the criminalities, because it
could take a lot of time and effort before you prove anyone’s guiltiness in front of the
law. As we all got dependable on cyber technologies – the similar situation is with the
criminal environment that would frequently rely on computers, internet and mobile
devices. In many cases, before anyone commits the financial crime, he or she would
use the emerging technologies to gather the necessary findings, plan the actions or
share some information with the rest of the criminal group. So, it’s getting obvious that a
plenty of the job would get done in a cyberspace and the skillful investigators would find
some sort of the clues and evidence there.

The old-fashioned methods such are the usages of marked banknotes in order to prove
the crime may appear as outdated. The reason for that is the majority of the good
evidence and findings could get obtained through the cyberspace and using the insight
into bank’s transactions occurring in the cyberspace as well. So, the question here is if
we could get the evidence in the cyberspace simply doing a surveillance of the situation
– why we could not apply that sort of findings in our process of proving the crime. The
answer to this question is quite simple and it would manly indicate that our legal
regulations would not recognize those sorts of clues as the valid evidence being
sufficient to prove someone’s guiltiness on the court. Well, this answer would open up
many new questions and right here, we could start the entire discussion trying to point
out that the current technological progress could undoubtedly make a huge change
within the legal surrounding. The purpose of this article would be to provide a deeper
insight into how significant the
changes within the legal regulation
could be in more effective
proceeding of the financial crime
cases.

The main point with this effort would
be that the legal environment as well
as the entire society should follow
the technological changes and
progress being present with our
current times. The technology would
definitely make our lives and
businesses being more convenient,
productive and effective. On the other hand, the entire criminal surrounding would also
cope with the cyber technologies, so if you want to discover any sort of the crime – you

48 Cyber Defense eMagazine – October 2017 Edition
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