Shedding light on dark money: how governments can tackle illicit finance

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December 13, 2022
Global
Finance

Governments around the world are missing out on billions of dollars of revenue that would otherwise be available to fund vital public services. The money is lost through a variety of problems, from corruption and tax evasion to terrorism.

The cash lost leaves a dent in the public finances and – at a time when many governments are facing fiscal constraints following the coronavirus pandemic – tackling the flow of dark money has never been more vital. According to the United Nations Conference on Trade and Development (UNCTAD), money moved illegally from developing countries erodes their already limited financial resources to invest in the public services needed to recover sustainably. In Africa, for example, UNCTAD estimates that some countries with large flows of illicit finance spend on average 25% less on health and 58% less on education compared with countries with lower rates.

And the need for action is not just financial. Tackling the flow of dirty money in an economy also helps to tackle crime, making it tougher for criminals to spend their ill gotten gains.

This webinar will look at what actions governments can take to tackle illicit finance flows. It will cover:

  • How nations can measure the scale of illicit finance in their country – and how they can develop their plans to tackle it
  • How to structure the public sector response to get the most effective action
  • How governments can work together globally to tackle the problem of illicit finance

Public servants can register here for free to attend this webinar

Time

USA/Canada Eastern Time (EST): 09:30 – 10:45
Greenwich Mean Time (GMT): 14:30 – 15:45
Central European Time (CET): 15:30 – 16:45
Eastern European Time (EET): 16:30 – 17:45
Singapore Time (SGT): 22:30 – 23:45
Australian Eastern Standard Time (AEST): 01:30 – 02:45

Panel

Laura Eshelby, Deputy Director for Practice, Standards and Capability, Public Sector Fraud Authority, Cabinet Office, United Kingdom

The Public Sector Fraud Authority works with departments and public bodies to understand and reduce the impact of fraud. A key component of this agenda involves increasing capability in counter fraud by developing the Counter Fraud Profession.  Laura has also worked on a number of other initiatives to introduce policy and change across the public sector, including tackling insider threats.

Most recently Laura has led on the oversight of post event assurance, supporting the aims of understanding and measuring the losses arising during COVID-19. This follows the work to introduce a dedicated intelligence unit and public facing hotline, to better understand the threat for the public sector.
Laura started her career as an Auditor in the Legal Aid Agency, at the Ministry of Justice. She trained as a Financial Investigator, acquiring a vast skill-set in counter fraud and steadily progressing to the role of Head of Fraud, before joining the Cabinet Office in 2014.

Brenda McVeigh, Head of AML/Sanctions, Department of Finance, Ireland

Brenda is the head of the AML/Sanctions Unit in the Department of Finance, Ireland. As such, she has responsibility for the negotiations between EU partners for the new AMLCFT package, which includes proposals for a new AMLCFT rulebook and a new EU AMLCFT authority. Brenda is also head of Ireland’s delegation to the FATF. Brenda has worked across numerous legislative portfolios in the Department of Finance, including in the areas of income tax and financial services. Specifically, she developed Ireland’s framework for identification and management of its dormant assets (bank accounts, insurance and pension policies) and led the Irish delegation, during its presidency, dealing with EU proposals for a Financial Transactions Tax. During this time, Brenda was a director on the board of Ireland’s Housing and Finance Agency. She was also previously CEO of her family company for some years, Chief Operations Officer of Ireland’s Tax Appeals Commission and Secretary to the Board of the Child Abuse Commission.

Daniel Eriksson, Chief Executive Officer (CEO), Transparency International’s Secretariat, Transparency International

Daniel Eriksson is the CEO of Transparency International’s Secretariat in Berlin. He joined in 2019 as Head of Technology. Prior to his appointment in 2021, Eriksson served as an Interim Managing Director of the Transparency International Secretariat. During his professional life, Eriksson has worked in both the private and not-for-profit sectors for entities including the Swedish government, the United Nations, the European Commission, civil society organizations, and more.
His role as a military peacekeeper in the former Yugoslavia inspired him to work in the humanitarian sector. Subsequent work in sustainable development in Africa, Asia and the Middle East redirected his focus towards corruption as an obstacle to human development. He is a passionate anti-corruption advocate and a strong believer of the role of technology in global efforts to end corruption. Eriksson holds a BSc in Information Systems Analysis from Linköping University and a PhD from Coventry University.

Barry MacKillop, Deputy Director, Intelligence, FINTRAC, Canada

Mr. MacKillop is the Deputy Director of Intelligence at the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) responsible for Tactical Financial Intelligence, as well as Targeted Strategic Financial Intelligence.  Mr. MacKillop also has extensive experience in developing and implementing anti-money laundering and anti-terrorist financing Compliance programs and policies.  Prior to this, Mr. MacKillop worked at Public Safety Canada where he held various senior positions over nine years, including: Director General of Law Enforcement, Organized Crime and Border Strategies; Senior Director of National Strategies (Serious and Organized Crime); and Director of Summit Security, Contract Policing and Firearms Policy. 

Mr. MacKillop began his career in the non-profit sector with the Youth Services Bureau of Ottawa and has also held positions in other federal government organizations, including both the Privy Council Office and Treasury Board of Canada Secretariat. Mr. MacKillop holds a Master of Arts Degree in Criminology from the University of Ottawa.

Chris Bostock, Director, Financial Crime team, Deloitte

Chris leads the Deloitte Forum for Tackling Illicit Finance, coordinating the Firm’s thought leadership on key financial crime issues including asset recovery, transparency of beneficial ownership and improving the effectiveness of the financial crime framework through innovations including public private partnership and information sharing utilities. He has published numerous papers including with the Institute of International Finance and as rapporteur for the Global Coalition to Fight Financial Crime. He also works extensively with public sector clients on national AML reform programmes. Chris joined Deloitte after 17 years with the UK National Crime Agency, where he was national Threat Lead for Money Laundering and where he established and led the Joint Money Laundering Intelligence Taskforce.

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Webinar chair: Siobhan Benita, former UK senior civil servant

Siobhan Benita was a senior civil servant with over 15 years’ Whitehall experience. She worked in many of the major delivery departments, including Transport, Environment, Health and Local Government. She also had senior roles at the heart of Government in the Cabinet Office and HM Treasury, including supporting the then Cabinet Secretary, Lord O’Donnell to lead work on Civil Service reform and strategy. Siobhan left the Civil Service to run as an independent candidate in the Mayor of London election. She subsequently joined her alma mater, Warwick University as Chief Strategy Officer of Warwick in London and Co-Director of the Warwick Policy Lab.