Financial crime is arguably the buzzword of the 21st Century, and recent surveys point to worrying trends that this is unlikely to change. Take PWC’s 2016 Economic Crime Survey, in which one third of survey respondents identified themselves to be victims of economic crime. The survey also identifies cybercrime to be a steadily growing concern, accounting for an increasingly larger portion of financial crime instances on a global scale.
Regulatory bodies are in place worldwide to counteract financial crime activities, but issues surrounding international accountability and contradictory legislations have created an entangled web in which criminal activities can, and do, slip through the cracks.
We live in the age of information dissemination – a decade on from the foundation of WikiLeaks, we are now processing a new surge of materials with the Panama Papers, and the revelations they expose about money laundering, tax evasion, loopholes and the implications for the global economy.
Simply put – in today’s world, big data is big business. Crime has not ceased to exist, but it has moved further underground and requires more vigilance and cooperation than ever before. The need for litigators, law enforcement, regulators, compliance professionals, consultants and solutions providers will only continue to grow.
The Innoxcell blog aims to serve as a platform for the discussion of these pressing issues and concerns. We will be commissioning and producing regularly updated content on white collar crime, share interviews with speakers from our upcoming events and conferences, post timely news content and regulatory updates, and host content from guest bloggers – leading experts in their respective fields providing insight and analysis into key areas of focus.
Let us stray from British Conservative MP Michael Gove’s warnings, and put our faith wholeheartedly in the experts – we welcome their input with open arms, and we hope you do, too.
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