Financial Crime Risks, Globalisation and the Professions
02 Nov 2011
Certain professions may be unwitting tools of organised crime by assisting in the commission of crimes such as fraud, corruption and money laundering.
These claims based on work carried out by the Financial Action Task Force will be examined this week at a conference presented by the University of Sydney Business School at a time when there are high expectations that the Australian Government will implement Tranche 2 of the Anti-Money Laundering Reform Package to subject lawyers and accountants to a new regulatory regime.
The aim of these reforms is to extend regulatory obligations to specified transactions conducted by a range of businesses and professions, including dealers in precious metals and stones, lawyers, accountants, real estate agents and trust and company service providers.
The Financial Crime Risks, Globalisation and the Professions conference will further explore the new global international Anti Money Laundering standards and presents a timely and exciting opportunity to explore the relationship between financial crime risks, the drivers of globalisation and the professions.
Conference organiser Associate Professor, David Chaikin, said: "The Global Financial crisis raised important questions regarding the role of multinational financial institutions and their professional advisers in facilitating financial instability, economic crimes and abuse.
"This conference brings together major players from across the industry to look at industry as a whole and how we can work together for the greater good."
Speakers from the AFP, AUSTRAC and the Asia/Pacific Group on Money Laundering will present at the conference, as well as academic experts from leading universities, international regulators, top practitioners from the accounting and legal professions, and officials from the Institute of Chartered Accountants in Australia and the Legal Services Commission of NSW.
The conference will be held on Wednesday 2nd November 2011 at the Hilton Hotel, Sydney.