The Pandora Papers in Context: The Emerging Role of Data in the Fight Against Offshore Financial Crime
About The EventAs the Pandora Papers have shown, access to information on the true owners of companies is essential to the fight against financial crime. This is particularly true for companies registered in offshore and other secrecy jurisdictions, which have long been used to avoid government/compliance-related scrutiny. In recent years, as both the worldwide culture of compliance and digital communications technology have evolved, we have seen shifts in the legal/regulatory/compliance landscape that impact how we approach financial crime investigation, prevention, and risk mitigation involving offshore and secrecy jurisdictions. Notable shifts include 1) enhanced public and media awareness, 2) increasing pressure by law enforcement and regulators on financial institutions, 3) increasingly sophisticated illicit schemes engaged by in increasingly sophisticated bad actors, and 4) an exponential increase in the volume of newly available and accessible data. These shifts present both challenges and opportunities as compliance professionals to look to respond to—and get ahead of—offshore risks like those highlighted in the Pandora Papers. Join us for a timely and practical discussion of understanding and combating financial crime typologies involving public data on offshore companies. We will cover:
- The evolving landscape around offshore information availability and its implications;
- What public data does exist on offshore companies and how to use it;
- How financial institutions can think about and respond to leaks like the Pandora Papers;
- A case study.