FIU Director at London anti-money laundering conference

FIU Director at London anti-money laundering conference
Guyana Chronicle, 10 September 2007

DIRECTOR of the Financial Investigation Unit (FIU) Mr. Paul Geer is in
London for a two-day conference on curbing money laundering, according
to a release from the British High Commission, which is facilitating
his participation.

The conference which starts today under the theme, “Curbing Money
Laundering: International Challenges”, seeks to assess the goals,
strategies and successes of national and international bodies involved
in combating the laundering of money resulting from serious or
organised crime.

The conference aims to have identified what the international community
wants to achieve in terms of anti-money laundering in the coming 5-10
years, how it can achieve this, what global architecture is
appropriate, what is the best role for international institutions,
regional bodies and private sector, how can their efforts be best
pulled together, how can international community get the right balance
in terms of short, medium and long-term initiatives and who leads.

According to the High Commission, the conference brings together
leading thinkers and experienced players to assess today’s approaches
and look ahead to identify how international efforts can be enhanced to
stop the laundering of the proceeds of organised crime and what more
needs to be done in practice and by whom.

The British High Commission said it sees Geer’s participation at the
conference as complementing the efforts by the Government of Guyana to
stamp out organised crime. One plenary session is dedicated to
examining money laundering in low-income countries. Participants will
look at how anti-money laundering strategies support the fight against
organised crime in low-income countries, how appropriate are financial
regulations and how can compliance be ensured and regulations enforced.

There will be presentations from a team of experts including university
professors and Directors of anti-money laundering units around the
world. Participants will engage in plenary and small group discussions
on a range of topics including: using technology to counter money
laundering, getting the intentional policy-framework right and the role
of the private sector-how can a risk-based approach work best.

The conference will also explore what more can be done to counter the
professionals who support the criminals, seizing international assets
gained by criminals from the proceeds of their crime, the use of
internet gambling for money laundering, what is the right level of
awareness of the general public and who is best placed to encourage
them whether be it the state, private sector or media.