Financial Crime World

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Iceland’s Efforts to Combat Organized Crime and Fostering International Cooperation

Despite concerns over political instability, Iceland’s government coalition emerged victorious in the last elections, with public trust in politicians gradually improving. The government has prioritized digital connectivity and cybersecurity, implementing a unique strategy that incorporates cybersecurity considerations into procurement and supply chains.

Iceland ranks among the best-performing countries in the world regarding corruption, but challenges related to government transparency and accountability persist. Low transparency in decision-making and frequent conflicts of interest have been identified, contributing to the country’s decreasing anti-corruption performance.

However, Iceland actively participates in international cooperation efforts to combat organized crime, being party to various law enforcement organizations and networks. The country has ratified and implemented several international conventions and protocols, facilitating joint investigations and controlled deliveries.

Criminal Justice and Security

Iceland’s justice system is highly regarded for its ethical standards, with judicial authorities often cooperating in international cases involving organized crime. While there are no specific judiciary units dedicated to organized crime, the judicial system is generally considered independent, with a low risk of internal corruption.

  • The penitentiary system places a strong emphasis on rehabilitation, including prisoner education to prevent recidivism.
  • However, budget constraints have posed challenges, leading to the closure of a prison and insufficient funding for psychological services and social workers.
  • Iceland’s police force is well-equipped and professional, supported by specific law enforcement policies and ongoing training improvements.

Economic Environment

Iceland’s economic and regulatory environment is considered in line with European and Scandinavian standards, with the police and independent judicial system regarded as effective. The country’s low crime rate enables legitimate businesses to operate without significant threats.

  • Certain sectors may be more vulnerable than others to infiltration by organized crime for money laundering or human smuggling and trafficking (such as the construction and restaurant sectors).
  • However, there is no evidence indicating that any particular economic sector is controlled by organized crime or facilitates illicit activities.

Civil Society and Social Protection

The Icelandic government has made efforts to support victims of human trafficking and drug addiction through collaborations with NGOs and CSOs. Funding has been allocated for constructing shelters and developing a central database to accurately reflect the extent of trafficking in Iceland.

  • Victims have access to free legal, medical, psychological, and financial assistance, regardless of whether they elect to stay in a shelter or cooperate with authorities.
  • Iceland is renowned for its successful approach to preventing substance abuse and maintaining a low crime rate.

Non-State Actors

Non-state actors play a key role in combating organized crime in Iceland, particularly human trafficking and the protection of foreign workers. Icelandic labour and trade unions, along with NGOs, actively contribute to efforts against organized crime, collaborating with law enforcement agencies and other stakeholders.

Media Freedom

Iceland has a favourable environment that respects and protects media freedom. There have been no reported attacks on journalists, media houses or activists.

  • The government has adopted initiatives to promote media independence and transparency, despite some challenges persisting due to the economic impact of the COVID-19 pandemic and the influence of the fishing industry on the media.
  • Journalists covering a fisheries scandal faced investigations by Icelandic law enforcement agencies, raising concerns about press freedom. Despite these challenges, the media in Iceland remains diverse and plays a crucial role in holding the government accountable.