PhD Study : Financial Crimes and the British Banking Sector: Mapping and Comparing Illicit Bank Repertoires

Summary

Summary

Since WWII, the UK finance sector has accumulated significant power and influence in Westminster, the City of London and British Overseas Territories. This influence has been leveraged to forge what has been described as a financial ‘spiders web’. The City of London and British Overseas Territories, in particular, have become prime conduits for international illicit financial flows. Within this ‘spider’s web’, British banks are a critical spoke. However, there has been no systematic criminological study conducted on the institutional methods, structures, cultures, and motivations, that underpin financial crimes in the British banking sector. This signals the significant methodological challenges associated with research on highly secretive institutions implicated in corporate criminality.

This doctoral project will help pioneer a new open source data-set, the British Financial Crimes Database, that addresses this challenge. Using a range of open-source investigative techniques (training will be provided), the doctoral researcher will collate in a single database, court judgements, deferred prosecution agreements, international arbitration decisions, asset forfeiture records, commissions of inquiry/regulator/parliamentary reports, etc., globally, which document UK Bank involvement in financial crimes.

Technical support for the database will be provided by an industry partner. By collating and connecting together records produced by organisations with subpoena and prosecutorial powers, a more panoramic view can be obtained into secretive corporate practices. Drawing on this database, the exemplary sampling method will be used to conduct a case study on British banks in three areas; money laundering, bribery and fraud/manipulation (three cases in total, one in each area).

This sampling method involves selecting cases that are representative of a wider population. What makes a case exemplary, is access to sufficient sources to richly populate the case, which may not be possible for the wider population. The database will determine which representative cases are potentially exemplary, based upon the availability of documentary sources, which will be supplemented by semi-structured interviews. Pattern matching techniques will be used to understand the method, mechanisms, and enabling environments, that banks exploit to commit financial crimes. Crucially this study will look to plot cross-case patterns, in addition to noting distinctions specific to the crime type.

This research will make an original and significant contribution to the literature on corporate crime, financial crime, and corruption, by producing a systematic data-set on the criminogenic role played by British banks. It will also develop original findings on open source investigative methods, developing granular understandings of the open sources available on British banks, and their respective strengths, weaknesses and limitations.

This research will be supervised by Professor Lasslett who is one of the leading global authorities on grand corruption and financial crimes, with support from two economists, Dr Duffy and Dr Bunyan. They will ensure the successful applicant is supported to understand critical technical dimensions of the UK finance sector.

Applicants

Applications from candidates with a background in either criminology, finance, economics, or cognate areas is welcomed. The proposal should demonstrate that the applicant has an understanding of the role which British banks play in international financial crime and corruption. The proposal should focus on how the three case studies might be methodologically developed and implemented, and how any ethical challenges might be dealt with. Ulster University will be provide extensive training in open source intelligence gathering, and investigative research methods.

Prospective candidates are strongly advised to contact Professor Lasslett before submitting their application.

Essential criteria

Applicants should hold, or expect to obtain, a First or Upper Second Class Honours Degree in a subject relevant to the proposed area of study.

We may also consider applications from those who hold equivalent qualifications, for example, a Lower Second Class Honours Degree plus a Master’s Degree with Distinction.

In exceptional circumstances, the University may consider a portfolio of evidence from applicants who have appropriate professional experience which is equivalent to the learning outcomes of an Honours degree in lieu of academic qualifications.

• Research proposal of 2000 words detailing aims, objectives, milestones and methodology of the project

Desirable Criteria

If the University receives a large number of applicants for the project, the following desirable criteria may be applied to shortlist applicants for interview.

• A comprehensive and articulate personal statement

Funding and eligibility

The University offers the following levels of support:

Vice Chancellors Research Studentship (VCRS)

The following scholarship options are available to applicants worldwide:

• Full Award: (full-time tuition fees + £19,000 (tbc))
• Part Award: (full-time tuition fees + £9,500)
• Fees Only Award: (full-time tuition fees)

These scholarships will cover full-time PhD tuition fees for three years (subject to satisfactory academic performance) and will provide a £900 per annum research training support grant (RTSG) to help support the PhD researcher.

Applicants who already hold a doctoral degree or who have been registered on a programme of research leading to the award of a doctoral degree on a full-time basis for more than one year (or part-time equivalent) are NOT eligible to apply for an award.

Please note: you will automatically be entered into the competition for the Full Award, unless you state otherwise in your application.

Department for the Economy (DFE)

The scholarship will cover tuition fees at the Home rate and a maintenance allowance of £19,000 (tbc) per annum for three years (subject to satisfactory academic performance).

This scholarship also comes with £900 per annum for three years as a research training support grant (RTSG) allocation to help support the PhD researcher.

• Candidates with pre-settled or settled status under the EU Settlement Scheme, who also satisfy a three year residency requirement in the UK prior to the start of the course for which a Studentship is held MAY receive a Studentship covering fees and maintenance.
• Republic of Ireland (ROI) nationals who satisfy three years’ residency in the UK prior to the start of the course MAY receive a Studentship covering fees and maintenance (ROI nationals don’t need to have pre-settled or settled status under the EU Settlement Scheme to qualify).
• Other non-ROI EU applicants are ‘International’ are not eligible for this source of funding.
• Applicants who already hold a doctoral degree or who have been registered on a programme of research leading to the award of a doctoral degree on a full-time basis for more than one year (or part-time equivalent) are NOT eligible to apply for an award.

Due consideration should be given to financing your studies. Further information on cost of living