With penalties running into the hundreds of millions of dollars, and ratings companies downgrading financial institutions that are subject to investigation, there are serious consequences at stake. Even more, the feeding frenzy of the media, including tabloids, and the circling of class-action lawyers makes this an issue that is core to the management of financial institutions.
Nigel Morris-Cotterill, Head, The Anti Money Laundering Network (parent of The Financial Crime Forum) has been warning of these risks for more than a decade and a half. "There's nothing new in what they are doing or the basis on which they are doing it," he said. "But financial institutions were not properly advised: indeed, when they did receive advice about these risks, often their lawyers and other consultants denied the risk. Now it is proving to be very real."
The seminar will be held in the following cities on the following dates
Hong Kong 13/14 September, 2012
Singapore 17/18 September, 2012
Dubai 24/25 September 2012
London 27 / 28 September, 2012
Full information including pricing and a booking form is at http://www.financialcrimeforum.com
Notes for Editors:
Nigel Morris-Cotterill is Head, The Anti Money Laundering Network a group of companies that provides consultancy, training and information services for the financial sector.
He is a former solicitor in London and author of "How not to be a money launderer" (1996, reprint 2011) and "Sun Tzu and the Art of Litigation" (2012)