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GLOBAL COALITION TO FIGHT
FINANCIAL CRIME

ABOUT US

Founded in 2018 by Europol, the World Economic Forum and Refinitiv, the Coalition brings to together different key players in the fight against financial crime and seeks to achieve its overarching purpose of mitigating financial crime by identifying key weaknesses in the current system, advocating for tangible reforms at political and policy level, and make the global anti-money laundering framework more effective.

The main objectives of the Coalition are to:

  • Raise global awareness of financial crime as a critical challenge with grave financial and human consequences
  • Promote more effective information sharing between public and private entities
  • Propose mechanisms to identify emerging threats and best practice approaches to more robust controls against money laundering
  • Identify pressure points in the current anti-money laundering/counter-terrorist framework and propose solutions to these

Representing different parts of the anti-financial crime ecosystem, the Coalition has the expertise to blend best-in-class approaches to financial crime management, risk intelligence, law enforcement capabilities, public-private information sharing and thought leadership on financial crime prevention.

About the chair

John Cusack Picture

John Cusack is the first Chair of the Coalition, having been elected by Members in October 2020. He was previously Global MLRO at UBS and Standard Chartered Bank and two-time Co-Chair of the Wolfsberg Group. He is an adviser to a number of financial institutions and RegTech providers, and engages with NGOs combatting wildlife and human trafficking. Mr Cusack is the author of Red Alert, the Global Threat Assessment 2019 and Sub Saharan Africa Threat Assessment 2020, as well as a regular publisher of papers including on topics such as fighting corruption, human trafficking, wildlife trafficking and ISIS.

Our members

“Financial crime is one of the defining challenges of our time and has a corrosive effect on society. 
The Atlantic Council is pleased to collaborate with the Global Coalition better understand financial crime’s severe consequences, promote more efficient information sharing, and develop tools to combat illicit financial flows. Working together, we believe we can build a more equitable and transparent financial future.”

“Global challenges require global responses and heavily rely on the cultivation of effective partnerships. Membership of the GCFFC speaks to the very heart of Crime Stoppers International mission and purpose, which is to empower individuals to take action and anonymously share information about crime and criminal activity. When it comes to financial crime, this translates to citizens and communities tackling known money laundering, terrorist financing, fraud, tax evasion, embezzlement, forgery, counterfeiting or identity theft.”

“Corporate treasurers are high risk individuals for becoming victims of financial crime due to their level of access and control over company finances and operations. Raising awareness and encouraging a public-private development of best-practices will enhance the ability of companies to shore up their defences against financial crime – in all of its facets. We are proud to be a member of such a broad coalition to advance dialogue and develop best practices to limit the ability of actors to undermine the security and integrity of our financial system and the wider economy.”

 

“To be effective the fight against money laundering cannot remain solely in the hands of the public authorities or solely in the hands of the industry. Working hand and hand with thought leaders of the public and private sectors within the Global Coalition, the European Banking Federation aims to be at the forefront of the fight against financial crime.”

“The Global Coalition brings together expert perspectives from across the anti-financial crime ecosystem. As the EU’s law enforcement agency, Europol works for a safer Europe for the benefit of all EU citizens. Financial and economic crime are among the most serious crime threats facing the EU, and the Global Coalition has an important role in raising awareness of those threats and strategies to combat them.”

“The global scope of financial crime and the shared threats faced by all financial institutions underscores the need for a global network of organisations united in the fight against financial crime. The FinTech FinCrime Exchange is proud to join the Coalition and represent the voices and efforts of a global community of anti-financial crime professionals, who are leading the fight at the most innovative technology companies.”

“The Coalition brings a broad group from research, financial services, law enforcement and civil society together to highlight key issues that are impeding the effectiveness of the fight against financial crime. The Future of Financial Intelligence Sharing (FFIS) research programme is proud to be a member and to support the Coalition on topics related to information-sharing and data protection.”

The Freedom Seal is proud to be a member of this broad group of organisations representing different aspects of the fight against financial crime. The Freedom Seal contributes to this fight by promoting transparency and corporate responsibility to eliminate forced labour from global supply chains.

“GFI is delighted to join this group of expert organizations to battle financial crime by promoting transparency, accountability and good governance. The Coalition will be an important catalyst for new thinking on this important topic.”

“Financial crime is a contributor to societal ill and a threat to both financial stability and financial inclusion. As such, its mitigation and prevention must be prioritized. The Institute of International Finance (IIF) supports the Coalition in its efforts to bolster public/private sector cooperation and ensure the AML/CFT regulatory framework and financial crime risk management toolkit are enhanced to enable stakeholders to achieve more effective outcomes.”

“Today’s crimes are increasingly international and complex. It is crucial that there is coordination among all the different players in maintaining a global security architecture. Joining the Global Coalition to Fight Financial Crime provides a unique opportunity for experts from public and private entities to work together against financial crime.”

“The need for public private collaboration is a more heightened imperative today as criminals increasingly exploit the very means of globalization in their interest to evade even the best of controls. MENA FCCG believes the Global Coalition for Fighting Financial Crime will drive significant progress towards achieving our collective goal through effective and constructive cooperation.”

“Anonymous companies feature in the majority of corruption and criminal scandals: they are the vehicle of choice for hiding illicit activities and money. Open Ownership’s mission is to make beneficial ownership transparency a reality, by working with the Coalition and its members to fight financial crime and make beneficial ownership disclosures a routine practice for governments and companies.”

“The Coalition brings together a diverse group of thought leaders to raise awareness of the human as well as economic impact of financial crime. Through its inclusion in the Coalition, Rani’s Voice gives a voice to the millions enslaved throughout the world, drawing attention to their suffering, and highlighting the importance of finding new ways to secure their freedom.”

“The Coalition is a unique and first-of-its kind consortium of organisations with deep practical expertise representing the law enforcement community, global banks, well-recognized think-tanks, risk-intelligence firms and NGOs to make the fight against financial crime more effective. As a risk-intelligence data company, Refinitiv shares its best practices in deploying technology and innovation to fight financial crime and shares its thought-leadership on emerging risks such as Green Crime and Human Trafficking.”

“The Global Coalition brings together thought leaders from all over the world to share their perspectives and best practices for tackling economic crime, RUSI is proud to be a member of this forward-leaning group of experts.”

Western Union enables financial flows for consumers and businesses across 20,000+ pairs of countries in more than 200 countries and territories. Moving money and payments with scale is a competitive advantage but doing so securely while complying with multiple regulations is a moral imperative.  As members of the Coalition, we are enthusiastic about discovering and sharing insights to fight crime and keep our collective systems safe to meet the end goal of keeping financial flows moving.

“It is crucial that public and private sector leaders effectively combat financial crime so as to safeguard trust in the financial system. The World Economic Forum is glad to support the Coalition and its efforts to raise awareness and foster collaboration among key stakeholders to mitigate the damaging economic and societal implications of financial crime.”

For more information please contact our secretariat.