International Financial Crime Forum, Malta

Malta is set to host a second Financial Crime Forum in February, and this time the event will be more relevant than ever.

In the current economic climate, financial fraud presents a heightened risk for operators and investors alike. It has never been more important for businesses and financial institutions to identify and understand the risks they face, and to know what they can do to mitigate them and prevent losses.

Building on the success of its first Malta Financial Crime Forum in November 2009, this latest event organised by ICC Commercial Crime Services, the anti-crime arm of the International Chamber of Commerce, in conjunction with the Malta Financial Service Authority and Malta Financial Intelligence and Analysis Unit, aims to provide some of the answers.

Over two days – February 3 and 4, 2011 – the forum will bring a number of well-respected international and domestic speakers to the Hilton Hotel at St Julians to discuss the most relevant topics related to modern financial fraud and its prevention. It promises to be both a highly informative event and an unparalleled opportunity to network with some of the best minds on the subject.

The keynote address will be given by Prof. Barry Rider from the University of Cambridge, whose own International Symposium on Economic Crime recently celebrated its 28th year. Prof. Rider is considered one of the world’s leading exponents on financial crime and he will be discussing its impact and relevance in times of financial crisis.

Putting the issues into a more meaningful regional context will be Bruno Cova, who investigated Italy’s Parmalat fraud. He will speak about the risks that banks and financial institutions currently face, while Karen O’Neill from the ICC Financial Investigation Bureau will bring delegates up-to-speed with the latest high yield investment scams and other investor-related frauds, including the fraudsters’ bid to profit from the current gold frenzy. Later, case studies will aim to explain the Ponzi fraud phenomenon and other frauds.

Having set the scene and highlighted the most current fraud techniques, the second day of the forum will look at some of the most pressing fraud issues, particularly with reference to how fraudsters hide their proceeds and how to go about getting them back. The asset recovery section will be presented by leading members of ICC FraudNet, the international network of lawyers formed in 2004 that specialise in this complicated area.

The discussion then turns to issues of prevention, detection and due diligence, including spotting financial fraud’s “red flags”, the practical issues surrounding suspicious transaction reporting and finally, some words of wisdom on how to avoid becoming a victim.

The forum promises to be direct and informative and aimed at leaving a lasting impact on fraud risk strategies of participating businesses. Rarely have so many finance fraud experts come together at the same time. It’s something that no one involved with banks, financial and other regulated institutions can afford to miss.

Further information and bookings via the ICC-CCS website www.icc-ccs.org, or contact ICC-CCS on +44 207 423 6960, or email fib@icc-ccs.org.