Follow the Money to Curb Forest Crimes

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Presentation by Julie Walters,
Australian,
Institute of Criminology,
Follow the Money to Curb Forest Crimes,
The 14th International Anti-Corruption Conference, Thursday, 11 November 2010, Queen Sirikit National Convention Center, Bangkok, Thailand

Published in: Education, Technology, Business
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Follow the Money to Curb Forest Crimes

  1. 1. Follow the Money to Curb Forest Crimes Julie Walters Australian Institute of Criminology www.14iacc.org www.iacconference.org www.twitter.com/14iacc
  2. 2. <ul><li>Commercial banks have a role in stemming targeted crimes. </li></ul><ul><li>€ $£€ </li></ul><ul><li>That role is not optional. </li></ul><ul><li>€ $£€ </li></ul><ul><li>It is legally mandated. </li></ul>
  3. 3. <ul><li>A South East Asian case study: </li></ul><ul><li>Indonesian AML/CTF </li></ul><ul><li>Commercial banks are involved by: </li></ul><ul><li>Criminal provisions </li></ul><ul><li>Asset freezing </li></ul><ul><li>Preventative regulation </li></ul>
  4. 5. <ul><li>Key requirements that can curb forestry corruption are: </li></ul><ul><li>Customer identification </li></ul><ul><li>Enhanced due diligence for higher risks </li></ul><ul><li>Politically exposed persons </li></ul><ul><li>Ongoing transaction monitoring </li></ul><ul><li>Financial intelligence reporting </li></ul>
  5. 6. <ul><li>Improving performance and aiding compliance: </li></ul><ul><li>Examples of higher risk customers and transactions, such as contact with high risk industries and unexplained wealth </li></ul><ul><li>Red flag transactions in the forestry sector </li></ul><ul><li>Pre-identified domestic PEPs list </li></ul><ul><li>Education and feedback to banks </li></ul>

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