Financial crime after the crisis in the UK

Financial crime is a large area of political and social enquiry and includes a variety of illicit conducts that need to be isolated and addressed as discrete offences. Financial operations, however, may cause harm even when they do not possess a criminal nature, as events relating to the 2008 bank crisis have shown. This paper is concerned with both typologies, namely with illicit and licit harmful behaviour adopted by financial actors. In the first section, the paper focuses on the measures proposed or adopted in response to the 2008 crisis in the UK. This is followed by the presentation of a number of recent cases proving that, despite recent regulatory efforts, large loopholes are still present which allow forms of financial crime to thrive