Financial Crime, Crypto-currencies, alternative payment systems and trade-based money laundering.

Financial Crime, Crypto-currencies, alternative payment systems and trade-based money laundering.

Nigel Morris-Cotterill first investigated the use of virtual currencies for financial crime in 1996. At the same time, he also examined alternative payment systems and the use of a variety of trade payments mechanisms, both legal and illegal, which would facilitate money laundering and other financial crime.

Today, he watches developments and says "welcome to the world I told you was coming."

So-called "Trade-Based Money Laundering," often known by its acronym "TBML," is nothing new. It's not even clever. But it is quite difficult to identify. Moreover, it's not only about money laundering: so-called TBML is a vehicle that facilitates the movement of finance for any illicit purposes, so as a name it's not a very good one.

Many people are surprised to know that bitcoin is far from the first virtual currency and that the various versions of it are even less original. There were various mechanisms in various stages of development and adoption. Why did they fail? Could they be resurrected in a blockchain-related world?

This seminar does not focus on the technology: indeed, it is argued that it is function not form that Financial Crime Risk Officers and regulators / legislators must focus on if they are to create an effective risk management and awareness system that protects the organisation.

The overlaps between and interlinking of various alternative payment systems and technologies with a range of financial crimes ranging from tax evasion to bribery and corruption, from money laundering to financing crime including terrorism are at the heart of this seminar.

And what of the future? What threats are posed to markets, can the various technologies be used for market manipulation, for large scale fraud?

None of this is about security - that's a subject for experts in that field. It's about how technologies are available to criminals to operate out of sight until it's too late and, often, even then.

- In house
- Professional bodies / regulator-run events
- Commercial entities (seminar organisers)

Language: English.

Location: pretty much anywhere

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