GLOBAL HARMONISATION OF ANTI-FRAUD LAWS WAY OFF – AND ENFORCEMENT IS THE REAL PRIORITY, SAY EXPERTS

NOONE has been hanged for fraud in England since 1811, but not every country is so advanced: today the death penalty is still applied for people convicted of fraud in China, Iran and North Korea among others. And even below the ultimate sanction, deterrents to committing fraud can look frightening in many countries of the world. The US, for instance, provides for a prison sentence of up to 30 years for violations carried out through telephone, Internet, radio or television (‘wire fraud’) if they affect, among other things, a major financial institution. The ...


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