Bank official as a subject of criminal offenses: international legal experience

The challenges of internal (operational) threats of committing criminal offenses in banking institutions are considered. A review of the regulatory documents of the European Union, Great Britain and the United States of America on the regulation of this sphere of legal relations is made. The complexity of the problem of committing offenses by bank officials and its interrelation with the stability and reputation of financial institutions and the financial system as a whole is indicated. It is found that today researchers note a growing wave of financial crimes committed by bank officials. Every year, as a result of the illegal actions of these individuals, banks suffer billions in losses. At the same time, these actions cause not only financial, but also reputational damage to banks. Such cases reveal deep-seated problems that have formed in the banking sector, in particular, regarding the culture of compliance and ethical behavior. It is emphasized that the participation of bank officials in financial offenses indicates the presence of gaps in the systems designed to prevent such activities. When committing criminal offenses, bank officials usually use their own privileged access to the specific opportunities provided by their respective positions to obtain personal gain, ranging from embezzlement, insider trading and money laundering to organizing complex fraudulent schemes, for example, with temporary accounts, or theft of personal data. In the aforementioned illegal acts, bank officials often use confidential data and access to the internal accounting system to misappropriate assets or conceal losses, which creates a significant internal threat to the stable operation of the banking institution. The issues of the criminological nature and characteristics of such crimes, sanctions and law enforcement in leading countries of the world are separately highlighted. It is concluded that national legislation of EU countries may differ significantly: some countries focus on corporate liability, others combine it with individual liability, with specific features and special regulation of sanctions against senior managers or related persons.