Conference

Illicit Financial Flows

Mapping networks, analyzing tools, disrupting flows

Chatham House, London

Overview

The financing of terrorism, tax evasion, laundering the proceeds of organized crime and corruption, amongst other criminal activities, all contribute to the vast amounts of illicit money and capital being moved through the international banking and trade system every year. With approximately $1 trillion flowing out of developing economies alone, these flows not only help to fund illegal activities and criminal organizations but also hinder much-needed economic growth and help to perpetuate conflicts around the world.

Which channels are being utilized to move this capital, and how can they be disrupted? What role should public and private actors play in preventing illicit financial flows, and what strategies have proved most effective?

This conference will deliver expert insights from senior policy-makers and key stakeholders, with an assessment of the evolution of illicit finance worldwide, an examination of the specific methods and networks utilized, and an evaluation of the effectiveness of potential solutions.

Key questions to be addressed include:

  • What exactly are illicit financial flows? What should the term encompass?
  • How can authorities and businesses accurately map money laundering networks globally? Where exactly is illicit finance coming from, and where is it going?
  • What are the specific tools that facilitate illicit flows? How effective are different regulatory and industry measures in combating them? How can enforcement be strengthened?
  • What are the roles of different public and private actors in this space and what are their current responsibilities? How should roles and responsibilities be attributed?
  • How can governments and businesses work together to achieve greater transparency in the international financial system? How critical is information sharing?
  • To what extents are illicit financial flows tackled ‘after the fact’? Should attention be shifted towards tackling the sources, rather than the flows?

The Chatham House Rule 
To enable as open a debate as possible, this conference will be held under the Chatham House Rule.

Twitter
#CHIllicitFinance 

Pricing and booking information 

Ways to book:

  1. Online: Click here to complete the online registration form
  2. Phone: Call Dora Rencoret on +44 (0)20 7314 2785
  3. Email / Post: Download a PDF registration form, complete and return to Clare Smyllie via email or post: Chatham House, 10 St. James’s Square, London, SW1Y 4LE
 

RATE (+VAT)
 

  
Partners and major corporate members 
All organizations£595
Standard corporate members 
Commercial organizations£1,180
Government departments£700
NGOs and academics£460
Non-members 
Commercial organizations£1,295
Government departments£750
NGOs and academics£510

Your delegate pass includes:

  • Conference attendance
  • Documentation
  • Lunch and refreshments

Travel and accommodation are not included. View a list of recommended hotels here.

Monday 15 May
0920

Overview | Illicit Financial Flows Today
09:20 – 11:15

From the funding of terrorist organizations to the revelations in the Panama Papers, events of recent months have propelled awareness of illicit finance and the networks through which it flows to the forefront of public consciousness. Which examples have been most significant and why? What will be the long-term significance of greater understanding of illicit flows? What does it reveal about the challenges in combating them?

Welcome and chair’s opening remarks 
Tom Keatinge, Director Centre for Financial Crime and Security Studies, RUSI

Speakers
David Lewis, Executive Secretary, Financial Action Task Force
Donald Toon, Director, Prosperity, National Crime Agency
Daniel Moger, Director, Office of Global Affairs, US Department of the Treasury
Jacqueline Molnar, Chief Compliance Officer, Western Union
Jennifer Shasky Calvery, Global Head Financial Crime Threat Mitigation, HSBC

Questions and discussion

11:15 – 11:45 Refreshments

Session One | Mapping Networks
11:45 – 13:15

This session will focus on mapping illicit finance networks globally, assessing the need for greater transparency and identifying strategies to aid disruption.

  • Where are flows coming from globally, and where are they going? What are the implications of this for developing and developed states in terms of their responsibilities for combating illicit flows?
  • What are the consequences of illicit capital flight for developing countries? How effective have international responses, including those from OECD member states, been to this outflow, and how can these be improved?
  • What portion of illicit financial flows is linked to corruption? How can a better understanding of this help to shape more effective prevention strategies? Is there a need for expansion beyond typical anti-money laundering (AML) measures?
  • What is the risk that prevention measures within financial systems may unintentionally deepen financial exclusion, particularly in developing economies? How can this risk be ameliorated?
  • What are the links between organized crime and terrorist financing and does there need to be a more holistic approach and systemic analysis when mapping global illicit finance networks?
  • To what extent is asset recovery a priority over crime prevention, and what challenges does this present?
  • Is the capacity of the private sector to combat illicit financial flows adequate or underutilized? What avenues exist for deeper public–private cooperation?

Chair 
Liat Shetret, Senior Advisor Financial Integrity and MENA Programs, Global Center on Cooperative Security 

Speakers
Frank Baker, British Ambassador to Iraq 
Adeyemi Dipeolu, Special Adviser to the President on Economic Matters, Office of the Vice President, Nigeria 
Emile Van Der Does De Willebois, Global Lead for Financial Market Integrity, The World Bank 
Lord Daniel Brennan QC, Senior Associate, Matrix Chambers 
Robert Barrington, Executive Director, Transparency International UK

Questions and discussion

13:15 – 14:15 Lunch

Session Two | The Banking System and Financial Institutions
14:15 – 15:40

This session will explore the role and responsibilities of banking and financial institutions in curbing the flow of illicit finance, the implications of recent legislation, the need for information sharing and further avenues for cooperation.

  • What are the roles and responsibilities of banking and financial institutions in preventing illicit financial flows? In contrast to law enforcement and policy-making bodies, what obligations should be met by the international financial system and what are the current barriers to meeting these obligations?
  • To what extent is greater information sharing the main priority towards increasing transparency, disrupting flows and unlocking great co-operation? How do information gathering processes need to be improved and how can public and private actors work together to achieve this?
  • How do methods for countering illicit finance influence the ability to conduct finance regionally? How do due diligence and on-boarding costs, for example, affect economic activity in the developing world?
  • What banking measures and practices, such as ‘Know Your Customer’ and ‘Customer Due Diligence’ have seen the greatest successes in preventing illicit financial flows and monitoring suspicious activity? Have there been trade-offs, for example in de-risking behaviours?
  • How will evolving policy developments, such as the UK’s Criminal Finance Bill, affect the obligations of financial institutions? How can institutions and Financial Intelligence Units work together to strengthen enforcement and foster a compliance culture?

Chair
Garry Clement, EVP and Executive Director, Association of Certified Financial Crime Specialists 

Speakers
Duncan DeVille, Global Head of Financial Crimes Compliance, Western Union 
Chris Stott, Senior Associate, Clifford Chance
Jorg Schaper, Global Head of Proposition, KYC & Future Screening Platform, Thomson Reuters 
Allan Clare, Head of UK Financial Crime Compliance, HSBC UK
Anastasia Nesvetailova, Director, City Political Economy Research Centre, City University of London

Questions and discussion

15:40 – 16:10 Refreshments

Session Three | Illicit Trade
16:10 – 17:45

This session will examine forms of illegal trade and challenges for identifying illicit trading practices to improve global disruption strategies, as well as regulatory developments and their effectiveness.

  • What are the most significant forms of illegal trade, such as wildlife, minerals, cigarettes and people trafficking? What are the ‘new blood diamonds’, and how can their movement be disrupted?
  • What responsibilities and duty of care do corporations have in this space? What are the implications of recent legislation, such as the Modern Slavery Act?
  • What proportion of illicit financial flows is comprised of trade misinvoicing and mispricing? Why is this so difficult to detect with traditional methods such as electronic screening, and what other methods have seen greater success?
  • What specific strategies and financial vehicles have recently been employed to avoid trade sanctions? How can these be disrupted?
  • What is the role of free-trade zones in facilitating illegal trade? Can the first be fostered without aiding the latter?

Chair
Alex Thier, Executive Director, Overseas Development Institute 

Keynote speaker
Rob Wainwright, Director, Europol (on the record)

Questions and discussion

Raymond Baker, President, Global Financial Integrity
Phil Mason, Head Anti-Corruption Policy, Department for International Development
Maya Forstater, Visiting Fellow, Center for Global Development
Jonathan Benton, European Director, The Sentry 

Questions and discussion

1745 End of conference and reception hosted by Chatham House

© The Royal Institute of International Affairs 2017

Speakers

Frank Baker to speak at the Chatham House Illicit Financial Flows 2017 conference

Frank Baker

British Ambassador to Iraq

Raymond W. Baker to speak at the Chatham House Illicit Financial Flows 2017 conference

Raymond W. Baker

President, Global Financial Integrity

Robert Barrington to speak at Chatham House Responsible Business 2016 conference

Robert Barrington

Executive Director, Transparency International UK

Jonathan Benton to speak at the Chatham House Illicit Financial Flows 2017 conference

Jonathan Benton

European Director, The Sentry

Lord Daniel Brennan QC to speak at the Chatham House Illicit Financial Flows 2017 conference

Lord Daniel Brennan QC

Senior Associate, Matrix Chambers

 Allan Clare to speak at the Chatham House Illicit Financial Flows 2017 conference

Allan Clare

Head of UK Financial Crime Compliance, HSBC

Garry Clement to speak at the Chatham House Illicit Financial Flows conference

Garry Clement

EVP and Executive Director, Association of Certified Financial Crime Specialists

Duncan DeVille to speak at the Chatham House Illicit Financial Flows 2017 conference

Duncan DeVille

Global Head of Financial Crimes Compliance and US BSA Officer, Western Union

Dr Adeyemi Dipeolu to speak at Chatham House Illicit Financial Flows 2017 conference

Dr Adeyemi Dipeolu

Special Adviser to the President on Economic Matters, Office of the Vice President, Nigeria

Maya Forstater to speak at the Chatham House Illicit Financial Flows 2017 conference

Maya Forstater

Visiting Fellow, Center for Global Development

Tom Keatinge to speak at the Chatham House Illicit Financial Flows 2017 conference

Tom Keatinge

Director, Centre for Financial Crime and Security Studies, RUSI

David Lewis to speak at the Chatham House Illicit Financial Flows 2017 conference

David Lewis

Executive Secretary, Financial Action Task Force

Phil Mason to speak at the Chatham House Illicit Financial Flows 2017 conference

Phil Mason

Head, Anti-Corruption Policy, Department for International Development

Daniel Moger

Director, Office of Global Affairs, US Department of the Treasury

Jacqueline Molnar to speak at Chatham House Countering Terrorist Financing 2016 conference

Jacqueline Molnar

Chief Compliance Officer, Western Union

Anastasia Nesvetailova to speak at the Chatham House Illicit Financial Flows 2017 conference

Anastasia Nesvetailova

Director, City Political Economy Research Centre, City University of London

Jorg Schaper to speak at the Chatham House Illicit Financial Flows 2017 conference

Jorg Schaper

Global Head of Proposition: KYC & Future Screening Platform, Thomson Reuters

Jennifer Shasky Calvery to speak at the Chatham House Countering Terrorist Financing 2016 conference

Jennifer Shasky Calvery

Global Head Financial Crime Threat Mitigation, HSBC

Liat Shetret to speak at the Chatham House Illicit Financial Flows 2017 conference

Liat Shetret

Senior Advisor Financial Integrity and MENA Programs, Global Center on Cooperative Security

Chris Stott

Senior Associate, Clifford Chance

Alex Thier to speak at the Chatham House Illicit Financial Flows 2017 conference

Alex Thier

Executive Director, Overseas Development Institute

Donald Toon to speak at the Chatham House Illicit Financial Flows 2017 conference

Donald Toon

Director, Prosperity, National Crime Agency

Emile Van Der Does De Willebois to speak at the Chatham House Illicit Financial Flows 2017 conference

Emile Van Der Does De Willebois

Global Lead for Financial Market Integrity, Finance & Markets, The World Bank

Rob Wainwright to speak at Chatham House Countering Terrorist Financing 2016 conference

Rob Wainwright

Director, Europol

Speaker Interviews

Ahead of the event, we asked some members of the speaker panel to share their insights on illicit financial flows.  

Read the interviews below for a preview of the conference agenda.

Raymond W. Baker

President, Global Financial Integrity

Raymond W. Baker to speak at the Chatham House Illicit Financial Flows 2017 conference

See interview here

Tom Keatinge

Director, Centre for Financial Crime and Security Studies, RUSI

Tom Keatinge to speak at the Chatham House Illicit Financial Flows 2017 conference

See interview here

Sponsors 

HSBC to sponsor the Chatham House Illicit Financial Flows 2017 conference

Thomson Reuters to sponsor the Chatham House Illicit Financial Flows 2017 conference

Western Union to sponsor Chatham House Illicit Financial Flows 2017 conference

If you are interested in becoming a sponsor for this event please contact Ben Cumming on +44 (0) 20 7957 5729.     

Venue

Chatham House
10 St James's Square
London
SW1Y 4LE
UK
[email protected]

Telephone: +44 (0)20 7314 2785
Fax: +44 (0)20 7957 5710

If you wish to book the venue for your own event please phone +44 (0)20 7314 2764

Directions
The nearest tube station is Piccadilly Circus which is on the Piccadilly and the Bakerloo Underground lines. From Piccadilly follow Regent Street southwards towards Pall Mall and take the first road on the right called Jermyn Street. Duke of York Street is the second road on the left and leads to St James's Square. Chatham House is immediately on your right.

Map

Accommodation
Although we cannot book accommodation for delegates, we have arranged a reduced rate at some nearby hotels, where you can book your own accommodation. Please inform the hotel that you will be attending a conference at Chatham House (The Royal Institute of International Affairs) to qualify for the Institute's reduced rate.

Please note all rates are subject to availability.

Flemings Mayfair
13 Half Moon Street
Mayfair
London - W1J 7BH

Tel: + 44 (0)20 7499 2964
Fax: + 44 (0)20 7499 1817
[email protected]

Classic Double without breakfast: £195 +VAT

The Cavendish London
81 Jermyn Street
London - SW1U 6JF

Tel: + 44 (0)20 7930 2111
Fax: + 44 (0)20 7839 2125
[email protected]

Classic Room without breakfast: £205 +VAT

Book The Cavendish online

The Stafford London 
St James's Place
London - SW1A 1NJ

Tel: 020 7493 0111
Fax: 020 7493 7121
[email protected]

Classic Queen without breakfast: £247 +VAT
Quote Chatham House

 

Media partners

The Association of Certified Financial Crime Specialists to speak at the Chatham House Illicit Financial Flows 2017 conference

Compliance Monitor to partner with Chatham House on the Illicit Financial Flows 2017 conference

Global Financial Integrity to partner with Chatham House on the Illicit Financial Flows conference

PaymentsCompliance to partner with Chatham House on the Illicit Financial Flows 2017 conference

If you are interested in becoming a media partner for this event please contact Amy Smith on +44 (0)20 7957 5755.

Press registration

This conference will be held under the Chatham House Rule. Information for journalists.

Press can request a press pass.

Contact us 

For enquiries relating to the conference agenda or sponsorship please call Ben Cumming on 
+44 (0)20 7957 5729

For registration enquiries please call Dora Rencoret on +44 (0)20 7314 2785

For general enquiries please email [email protected]