GCFFC members Refinitiv and RUSI participated in a webinar hosted by Chatham House.
Che Sidanius, Global Head of Regulation & Industry Affairs, Refinitiv
Patricia Sullivan, Global Co-Head, Financial Crime Compliance, Standard Chartered
Dame Sara Thornton, Independent Anti-Slavery Commissioner, UK
Chair: Tom Keatinge, Director, Centre for Financial Crime and Security Studies, RUSI
Illicit finance not only threatens financial stability and inclusion but also provides support for terrorism and is a primary incentive for human trafficking, the illegal wildlife trade and narcotics smuggling. Frequently, actors are able to capitalize on loopholes and inefficiencies resulting from the lack of a coordinated response to financial crime and an underpowered global system for tracking illicit financial flows. The COVID-19 crisis has exacerbated this problem by putting pressure on global supply chains, labour forces, restricting movement of people and limiting the use of banking products and services.
Against this backdrop, the panellists explore solutions and frameworks to coordinate a successful fight against financial crime. What should be the role of public-private partnerships in combatting financial crime? What do such partnerships need from each side to be efficient and effective? How can the private sector’s internal effectiveness impact ‘real-world’ victims? And in light of the evolving global health emergency, how can those fighting financial crime shift their focus to high-risk matters and ensure the work they do is of use to others?