On 22nd June Aidan Larkin (Co-Founder & CEO) will be speaking at the FinCrime World Forum about the challenges of bringing financial criminals to justice.
Financial Crime is an ever evolving global issue that has become increasingly sophisticated in nature, especially with the rise of cryptocurrency and the COVID-19 pandemic. The lockdown restrictions have been a barrier for financial criminals who rely on easy access to the financial system to move dirty money. Law enforcement agencies have been able to capitalise on this opportunity and seize large amounts of illicit cash that would have otherwise been laundered effectively through the system. However, these recent successes do not detract from the reality that law enforcement is struggling to reduce the scope of financial crime. According to most reliable global estimates, only 1-2% of illicit funds are ever retrieved by the authorities.
The panel of experts will dive into the reasons behind this apparent failure to retrieve the funds and bring these financial criminals to justice. They will be exploring the systemic weaknesses that allow such poor operational outcomes, the potential of new initiatives introduced to address the issue and the new ways in which the private sector can support law enforcement’s campaign against financial criminals.
All around the world countries are facing rising economic and social costs due to money laundering, corruption and other illegal activities. As the financial crime landscape evolves, the growing threat to firms and their customers is undeniable. The FinCrime World Forum brings together industry thought-leaders and visionaries from across the globe to discuss the topical issues facing the financial crime sector, and share their ideas and concerns with each other.
Aidan Larkin (Co-Founder & CEO) comments:
“Despite the constant efforts of the enforcement community, the returns in Asset Recovery cases are only a fraction of what they could be. Worse still there is consistent evidence, all across the world, that in cases where assets actually are seized, the returns are reduced further by avoidable depreciation or excessive costs. Panels like this are vital to debate and explore these issues further and give them the publicity they deserve. The matter is simply too important to ignore”.
The talk will take place on 22nd June at 1:10pm You can register using this link.
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