Financial Crime World

Financial Crime Investigation Techniques Take Center Stage at ICC FraudNet Conference on Scrub Island

The 20th anniversary meeting and conference of ICC FraudNet was held recently on Scrub Island, bringing together over 100 attendees from 71 countries to discuss financial crime investigation techniques and best practices.

Keynote Address by Deputy Premier and Minister for Financial Services

Deputy Premier and Minister for Financial Services, Labour, and Trade Honourable Lorna G. Smith delivered the keynote address at the conference. She emphasized the government’s pledge to fight financial crime in all its forms, particularly during times of geopolitical instability that exacerbate such risks.

Government’s Commitment to Combating Financial Crime

The Virgin Islands Government reaffirmed its commitment to combating financial crime through a robust regulatory regime and adherence to the rule of law. Honourable Smith praised ICC FraudNet for holding its 20th anniversary conference on Scrub Island, highlighting the shared responsibility to ensure that financial crime is investigated and prosecuted, and that assets lost or stolen are identified and recovered through the courts.

Industry Partnerships and Collaboration

The Minister commended industry members and the private sector for their role in upholding high standards. The government’s commitment to its robust regulatory regime and adherence to the rule of law will undoubtedly provide a solid foundation for addressing financial crime challenges head-on.

ICC FraudNet Conference Highlights

  • Over 100 attendees from 71 countries attended the conference
  • Top asset recovery lawyers and representatives from strategic partner organizations were in attendance
  • The conference has been held bi-annually every six months since its inception, with 39 meetings and conferences held in over 30 different countries

Conclusion

The Virgin Islands Government’s strong stance on combating financial crime is a welcome development for the region. As Honourable Smith noted, “There is no doubt that we face challenges from those with criminal intent who seek to misuse our services.” The government’s commitment to robust regulatory measures and its adherence to the rule of law will undoubtedly provide a solid foundation for addressing these challenges head-on.