Global Coalition to Fight Financial Crime

Announcing the GCFFC Financial Crime Fighter of the Year – 2024 The Global Coalition to Fight Financial Crime is proud to honor the remarkable Gretta Fenner as the 2024 Financial Crime Fighter of the Year. Gretta, who served as Managing Director of the Basel Institute on Governance, was a tireless anti-corruption advocate for over two decades. Her work bridged borders and sectors, fostering partnerships that spanned the globe, and her kindness, empathy, and selflessness left an indelible mark on everyone she worked with. Her efforts were not only about what she did but also how she did it—with unwavering grace and determination. This award is a tribute to her extraordinary contributions and the legacy she leaves behind. A heartfelt tribute from her colleagues at the Basel Institute on Governance underscores her profound impact: "Gretta was a true global ambassador for the fight against financial crime. She passionately believed that to make real progress, we must join together in coalitions that cross borders, sectors, and perspectives. This award is one more reminder of the inspiration she instilled in her peers." We also extend our congratulations to the runners-up and nominees for their incredible leadership and commitment: T Raja Kumar – Former FATF President Alan Ketley – Executive Secretary, The Wolfsberg Group Mechelle B.J. Moore – CEO, Asia Global Alms Inc Raluca Pruna – Head of Financial Crime Unit, DG FISMA, EC Jürgen Stock – Former Secretary General, Interpol Olga de Truchis 🇨🇵🇺🇦 – Soc Gen Group Compliance Coordinator on Crypto & Blockchain As Chair of the GCFFC, John Cusack, eloquently put it: "The shock of Gretta’s passing will sit alongside the admiration, respect, and continued support for her cause. There was no one stronger or who did more than Gretta. This award recognizes her tireless efforts and her unwavering commitment to the fight against corruption." Let us honor Gretta’s legacy by continuing her fight. Full press release linked in the comments below. Che Sidanius Michal Gromek Lana Brandorne

FATF Consultation on RBA: - The GCFFC have submitted a response to the FATF consultation on proposed revisions to R.1/INR.1/INR.10/INR.15 which in particular focusses on the Risk Based Approach. The submitted paper is also available on the GCFFC website - see comments for link. As the paper states - “Whilst we support the changes proposed, we believe that these changes alone are unlikely to have a material effect. In particular we believe that significant improvements to the FATF Standards governing country National Risk Assessments are a necessary precondition to improving the risk based approach”. We double down on this precondition and explain how the current risk based approach is not working effectively and has consequences for financial inclusion. We make specific proposals and drafting editing suggestions which we feel would prove invaluable and should be taken into account in the 5th round of country evaluations. Thanks to the many expert contributions to this submission including from: Alison Clew (USA), Angela Harbour (UK), Andrew Chow (Singapore), Denisse Rudich (UK), Dr Sorcha MacLeod (Denmark), Greta Barkauskienė (Lithuania), Jean-Michel Rousseau (Switzerland), John Cusack (UK), Julia Chin 陈碧茹 (Singapore), Karen Nitschke (Australia), Kateryna Boguslavska (Switzerland), Matthew Long (Luxembourg), Michael Levi (UK), Michal Gromek (Poland), Nicolas Choules-Burbidge (Canada), Phale M. (UK), Ursula M'Crystal (Singapore), Xolisile Khanyile (South Africa). , , , Che Sidanius

🌍 Join the Conversation: Webinar on Fighting Financial Crime & Protecting Data Privacy Through Responsible Data Sharing 🌍 We’re excited to invite you to an engaging webinar that will unpack the key findings and actionable recommendations from the recent paper "Fighting Financial Crime & Protecting Data Privacy Through Responsible Data Sharing: A Path Forward." This session features insights from: Vivienne Artz OBE FCSI (Hon) CMgr CCMI AIGP Dr. Michelle Frasher, PhD, CAMS John Cusack, Chair of GCFFC 💡 Topics Covered: - Exploring the intersection of financial crime compliance (FCC) and data protection & privacy (DPP). - Practical strategies for balancing effective financial crime prevention with protecting individual privacy. - Steps to foster international collaboration and enhance regulatory frameworks. This is a unique opportunity to learn from experts and contribute to advancing responsible data-sharing practices. 📅 Date: December 9, 2024 🕒 Time: 3:00 PM GMT 📍 Location: Online 🔗 Register to secure your spot and be part of this important discussion. #FinancialCrime #DataPrivacy #Webinar #Collaboration #GCFFC Che Sidanius Michal Gromek Lana Brandorne

Robust governance frameworks and reliable institutions create an environment of certainty and resilience, enabling societies and businesses to prosper. Conversely, corrupt practices pose significant risks to these objectives. In response, in collaboration with Transparency International, the World Economic Forum has developed Business Integrity: A Toolkit for Medium-Sized Enterprises. Small- and medium-sized enterprises (SMEs) represent over 90% of businesses worldwide and play a critical role in global employment and GDP; they are particularly vulnerable to corruption. This toolkit provides essential resources and strategies to cultivate a culture of integrity within these enterprises, including risk assessments, anti-corruption policies and frameworks for managing conflicts of interest. By adopting these tools, organizations can safeguard their reputations, boost competitiveness and enhance their resilience. Thanks to Seán Doyle and Nivedita Sen for sharing the report with us. Link in comments. John Cusack Che Sidanius Michal Gromek Lana Brandorne

Today the GCFFC is publishing a paper on How to Improve Supervisory Effectiveness with 10 Key Enablers & 40 Key Takeaways, produced by former senior regulators as a consultation paper & will engage with all those that wish to contribute to finalise this work. The experts state: “Expectations for supervision should remain realistic & no one expects “Super Vision”, but superior levels of effectiveness, insights & actions can be achieved using the key enablers & key takeaways promoted by the Experts”. Chair of the Experts Working Group Jamal El-Hindi states: “Our working group had frank discussions & we hope that the paper will lead to more of the same. The critical ability of supervisory communities to work with other components of AML regimes for the purpose of developing more effective supervisory efforts requires developing & sustaining more trust & understanding among all such components. We hope that this paper & further iterations can serve as a guide to those supervisors seeking to adapt their current methods for the sake of greater effectiveness." Vice Chair Bryan Stirewalt states: “As can be seen from FATF Mutual Evaluations, effective supervision is an illusive & moving target. This paper does not contain any silver bullets but does contain several lessons learned from experienced supervisors. We hope this paper will encourage creative thinking & provide support to supervisors around the globe in performing their critical functions of preventing financial crime, protecting consumers and society, & promoting financial stability.” Vice Chair Mariano Federici states that: “We hope this paper will serve as a practical resource for regulators seeking to advance AML/CFT supervisory effectiveness. By outlining best practices from lessons learned & focusing on realistic, risk-based approaches, it aims to support supervisors in building robust, adaptable frameworks that meet evolving standards & challenges. Through a shared commitment to continuous improvement, regulators can drive impactful change, reinforcing the resilience of financial systems worldwide”. Marcus Pleyer, Former FATF President 2020 - 2022 states: “Effective supervision is key in preventing ML/TF. Therefore, I very much welcome the GCFFC’s consultation draft with 10 key enablers & 40 key takeaways compiled by former senior regulators to help improve supervisory effectiveness. I am excited about the consultation process that will for sure finally provide a product that can serve as a useful guidance for present and future supervisors.” Thanks to Jamal El-Hindi, Mariano Federici & Bryan Stirewalt with support & contributions from experts including Hans-Peter Bauer, Maud Bökkerink, Nicolas Choules-Burbidge, Sharon C. Alison Clew, Himamauli Das, Sylvie Matherat, Hiroshi Ozaki, David Parody, Gabriel Romo, Maija Treija & Daniel Zuberbühler & supported by Lotte Ludekens & Karel de Zoete. More coming soon including a dedicated webinar from the Experts. Che Sidanius Michal Gromek

Data Privacy and Fighting Financial Crime: A new Data Protection Experts Working Group commissioned by the GCFFC have today published a Paper “Fighting Financial Crime & Protecting Data Privacy Through Responsible Data Sharing: A Path Forward”. The paper sets out a multi-disciplinary explanation of the intersection between fighting financial crime (“FFC”) and data protection and privacy (“DPP”) along with 4 important recommendations for the adoption of international regulations, standards and measures to fight financial crime while still providing protection for individual’s data privacy. Achieving a balance between FFC and DPP is not a zero sum game, with only winners and losers. Where differences arise as they will, resolution will only come from a better understanding of why and how activities are undertaken, and why and how these can be carried out consistent with the aims of FFC as well as safeguarding rights for DPP.  GCFFC wish to thank Co Chairs Vivienne Artz OBE FCSI (Hon) CMgr CCMI AIGP and Dr. Michelle Frasher, PhD, CAMS and all the DPEWG members Ronen Cohen Gem Conn Sadie Falconer-Bowen Daniel Forbes Georgina Kon Janet Lane Beatrice Marinoiu Sujit Raman LSEG Risk Intelligence TRM Labs Duality Technologies Dow Jones Risk & Compliance AlixPartners LexisNexis Risk Solutions Linklaters John Cusack Michal Gromek Che Sidanius

We’re proud to announce that content from our submission on the use of cryptocurrencies for mercenary financing has been included in the report of the UN Working Group on mercenaries thematic report 'Trends and challenges in the financing of mercenaries and related actors' (A/79/305). This important report will be presented to the UN General Assembly in November. Our key recommendations have been adopted, including a call for the Financial Action Task Force (FATF) to update its guidance to address mercenaries, mercenary-related actors, and private military and security companies. This is a tangible impact in the fight against financial crime and human rights violations. Our efforts are advancing the global conversation around hashtag #AML, crypto, and mercenary financing, and we are grateful to all those who contributed to this breakthrough that will continue to be lead by members of the Digital Asset Task Force - head up by Michal Gromek Step by step, we are making progress towards a safer, more secure future. #FinancialCrime #Crypto #HumanRights #AML #FATF #GCFFC Hedi Navazan Michal Gromek John Cusack Che Sidanius Dr Sorcha MacLeod Olga de Truchis 🇨🇵🇺🇦 Greta Barkauskienė Jovana Jezdimirovic Ranito Violaine Clerc Denisse Rudich Annette Ryan Michelle Small Daniel Thelesklaf Eleonora L Cammarano Anali Arambula Crystal Intelligence Global Ledger Egmont Group of Financial Intelligence Units

As we wrap up the Global Coalition to Fight Financial Crime Annual Summit in Stockholm, we want to extend our sincere thanks to everyone who joined us over the past two days for insightful discussions and impactful collaboration. Over the last two days, we tackled critical topics such as building effective systems, improving information sharing, and exploring the latest technological innovations in the fight against financial crime. We also addressed the complex balance between data privacy and combating financial crime, while diving deep into strategies for enhancing supervisory effectiveness. The event’s closing session gave us an inspiring vision for the future of financial crime prevention. Your participation and engagement have been invaluable in driving this mission forward! Thank you to all the speakers who shared their invaluable insights and expertise: Alexandra Malangone, Annette Ryan, Che Sidanius, Dr. Christof Stolla, Daniel Thelesklaf, David Lewis FRGS, Debra Au, Dr Sorcha MacLeod, Eduardo Pecoraro, Hanna Khrystianovych, Hans-Peter Bauer, Ian Tennant, Ilze Znotina, Jaap van der Molen, Jamal El-Hindi, Jean-Michel Rousseau, John Cusack, John Scanlon AO, Jonathan Groom MBA, Kai Pang Lau, Laura Hutton, Marcus Pleyer, Markus E. Schulz, May AlKhalifa, Michael Matossian, Michal Gromek, Mohamed Shalo, EMBA, Neil Giles, Nicholas Lewis, Nick Maxwell, Nishanth Nottath, Rani Hong, Ruth Dearnley OBE, Sarah Runge, Seán Doyle, Sheyla Saadat, Simon Miller, Tom Scampion, Victor Matafonov, Vivienne Artz OBE FCSI (Hon) CMgr CCMI AIGP, Xolisile Khanyile. Special thanks to the team who made this happen: Ursula M'Crystal, Grace Marshall, Love Dager and everyone involved! Accelerating collaboration is essential to tackling the evolving threats of financial crime, and the connections made during this summit will significantly strengthen our collective efforts. We have agreed on key follow-ups and actions, which we will share soon. We look forward to continuing this journey together and reuniting at next year’s summit! We are proud to work with our member organizations: ABN AMRO Bank N.V., Absa Group, ANZ, Atlantic Council, Basel Institute on Governance, Crime Stoppers International, Crystal Blockchain, EACT - European Association of Corporate Treasurers, Global Initiative to End Wildlife Crime, FinTech FinCrime Exchange, GASA, Global Financial Integrity, Global Ledger, ING, INTERPOL, LoveSaid, LSEG Risk Intelligence, MENA Financial Crime Compliance Group (MENA FCCG), NatWest, Nordea, Open Ownership, Rani´s Voice, Freedom Seal, Standard Bank, The Mekong Club, Traffik Analysis Hub, TRM Labs, Western Union, Westpac, World Economic Forum

Today, we heard insightful discussions on some of the most pressing challenges in combating financial crime, including scams and fraud, human and wildlife trafficking, trade-based financial crime, and the misuse of virtual assets by mercenaries and private militaries. 🌍💬 These issues pose significant threats globally, and it's clear that coordinated, cross-sector collaboration is crucial to address them effectively. Public, private, and third sector organizations must come together to share insights, strategies, and expertise in order to make a real impact. 💼🤝 Tomorrow, we will shift our focus to solutions—exploring practical, actionable ways to strengthen our collective fight against financial crime. It’s time to turn discussions into action. 🔑 #UniteAgainstFinancialCrime #Collaboration #GCFFC #AnnualSummit John Cusack, May AlKhalifa, Mohamed Al Khalifa, Hans-Peter Bauer, Marcus Pleyer, Ilze Znotina, Ian Tennant, Debra Au, Sheylaa Saadat, @Simon Miller, Dr. Christof Stolla, @Kai Pang Lau, Seán Doyle, John Scanlon AO, Xolisile Khanyile, @Lisa Hartevelt, Ruth Dearnley OBE, Neil Giles, Rani Hong, @Alexandra Malangone, Daniel Thelesklaf, Michael Matossian, Victor Matafonov, Nishanth Nottath, Michal Gromek, Hanna Khrystianovych, Dr Sorcha MacLeod, Jean-Michel Rousseau, Louise Russell-Prywata, Che Sidanius David Lewis FRGS

The first-ever global two-day summit uniting the public, private, and third sectors has officially begun in Stockholm, Sweden 🇸🇪. Hosted by the Global Coalition to Fight Financial Crime, this event brings together nearly 150 participants from across the globe to accelerate collaboration in fighting financial crime. We have a full roster of expert panels and workshops. On Day 1, discussions cover financial crime as a security threat, fraud and scams, trade-based financial crime (TBFC), human and wildlife trafficking. Day 2 delves into building effective systems, information sharing, balancing privacy with fighting crime, improving supervisory effectiveness, and exploring the role of technology and innovation in combating financial crime. We are honored to welcome participants from INTERPOL, Financial Action Task Force (FATF), Egmont Group of Financial Intelligence Units, DCAF - Geneva Centre for Security Sector Governance, OSCE, UNODC, Financial Intelligence Unit (FIU) Jersey, Arab Bank, Basel Institute on Governance, World Economic Forum, Global Initiative to End Wildlife Crime, LSEG Risk Intelligence, Kids in Need of Defense (KIND), and many more industry leaders. Stockholm is set to host some of the world’s leading financial crime fighters as we work together to shape the future of financial crime prevention. John Cusack Che Sidanius Ursula M'Crystal Michal Gromek Grace Marshall Lana Brandorne Ilze Znotina Vijay Eswaran Patricia Sullivan Ibtissem Lassoued Michael Matossian Debra Au Jodie Arthur Robin Lee 李显龙 Xolisile Khanyile Sir Rob Wainwright Markus E. Schulz Viveka Rydell-Anderson JD, MSc Dr. Michelle Frasher, PhD, CAMS, David Wilson Andrew Chow Sathish Kumar Ranganathan Anrike Visser John Scanlon AOa #FightFinancialCrime #AcceleratingCollaboration #AnnualSummit #PublicPrivatePartnership #Innovation #GlobalCoalition