The Economic Crime Forum: The FATF's lists from the perspective of listed jurisdictions

What does it mean for jurisdictions when they are listed by the FATF?

This Forum is fully remote. 30 March, 2023 - 18:00 GMT

TIME ZONE:GMT 18:00

Event Info.

The Financial Action Task Force has long operated a system of sanctions against jurisdictions which do not meet its demands, even though, often, those demands are also not met by some of its larger members.

Who's on the grey list at present?
Albania, Barbados, Burkina Faso, Cayman Islands, Democratic Republic of the Congo, Gibraltar, Haiti, Jamaica, Jordan, Mali, Mozambique, Nigeria, Panama, Philippines, Senegal, South Africa, South Sudan, Syria, Tanzania, Türkiye, Uganda, United Arab Emirates, Yemen.

Mostly, but not always, those on the list are jurisdictions with small or troubled economies. Sometimes it appears as if listing is politically motivated.

What happens to the general economy and to businesses when a jurisdiction is placed on the list?

How do a jurisdiction's relationships with its near neighbours fare?

What is the effect on public companies when their jurisdiction is listed ?

What is the effect on a country's financial intelligence unit and those that report to it and how what does a central bank do when a jurisdiction is listed with a view to getting off the list as soon as possible?

Tickets

GBP20.00 including UK VAT where applicable.

Programme

30 March 18:00 GMT

GMT
17:45 Platform opens for login
18:00 Welcome and introduction
18:30 Speaker 1 Calvin E J Wilson, Immediate Past Executive Director of the Caribbean Financial Action Task Force
The effects of a negative listing on the financial sector and the economy.
19:30 Sponsor's presentation (Sponsor 1)
20:00 Speaker 2 Antonia Esser,
The immediate concerns for payments when a country is placed on an FATF or similar list and planning for removal, with particular reference to international remittances and micro-payments.
21:00 Sponsor's presentation (Sponsor 2)
21:30 Speaker 3 John Walker: if countries do as the FATF, etc. demand, does it actually work?
22:30 Wrap up and Thanks
22:45 Platform closes.

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Welcome

The Financial Action Task Force is often described as "the standard settings body" for combatting money laundering. It has been described as "the military wing of the OECD" because of its methods of compelling co-operation with, in particular, the fiscal objectives of the OECD. Moreover, its "standards" are termed "recommendations" but non-compliance, for some countries, has had devastating effect. Yet, large members of the group offer the same, or very similar services to those jurisdictions that are targeted and often have a significant shortfall as against compliance, but the FATF does nothing.

The reason is simple: those with such failings are those that make policy. They are not going to take action to restrict their own national, commercial, interest.

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Speakers

Mr Calvin E. J. Wilson

Mr Wilson is the Immediate Past Executive Director of the Caribbean FATF, working, during the terms of four FATF Executive Secretaries, and at sixty one FATF Plenary and Working Group meetings. He fully understands and has extensive knowledge and experience in the strategic AML/CFT imperatives of the FATF, EU, and other organisations, which allow discernment of trends in the global agenda and facilitates the provision of cogent, effective and confidential strategic and crisis management advice at the highest political and private sector levels internationally. He has 25 years experience in explaining the effect of negative listings on developing countries.

LinkedIn: https://www.linkedin.com/in/calvinejwilson

We are discussing speaking engagements with the following:

Miss Antonia Esser

Miss Esser is a senior engagement manager with Cenfri, one of South Africa's leading not-for-profit economic impact agencies. Her main area of research is in payments. She focuses on instant and inclusive retail payment systems, remittances regulation and infrastructure, national and regional payment systems setup and regulation, central bank digital currencies, as well as regulation for innovation. She is particularly interested in financial and digital inclusion challenges in remittances and in exploring related avenues for improvement. As part of this initiative, Cenfri is providing customer due diligence and KYC
process technical assistance to 13 remittance service providers across seven countries in sub-Saharan Africa.

Mr John Walker

If there is any such thing as a legend in relation to financial crime, John Walker is it. And yet, you've probably never heard of him because he is, genuinely, a back room boy that everyone from the IMF to national governments has called on for more than 20 years when they want the numbers about financial crime. He is an expert's expert who can speak to the rest of us and we'll understand. One of the big questions is whether the FATF's Recommendations are working and whether making jurisdictions comply actually reduces financial crime.

Who should attend.

Financial Crime Risk and Compliance Officers
Law enforcement
Legislators, policy makers and regulators
C-Suite officers in commerce, trade and industry
Risk managers
Insurance underwriters

Computer scientists
Data analysts
On-line marketing practitioners
Customer engagement specialists

CPD/CPE/Certificate Credits

Attending The Financial Crime Forum lets you earn Portable CPD* credits which, where recognised, may be used for your professional CPD. Note: even when Portable CPD* is not formally accepted, it may be accepted under the general "reading" or "attending lectures" classes that many professional bodies provide.

This event provides five hours credits.

*Portable CPD is a trademark of Vortex Centrum Limited.