Global Coalition to Fight Financial Crime formalizes Secretariat and relaunch
On June 2nd 2020, the “Global Coalition to Fight Financial Crime” GCFFC, a group aimed at promoting more effective public and private sector collaboration and engaging policy makers in addressing the financial crime challenge, announced its formalized Secretariat and relaunch. The Coalition, to which MENA FCCG is a member, is expected to make significant change in facilitating cross-border dialogue and engagement with policy makers.
By way of background, Europol, the World Economic Forum and Refinitiv formed the Coalition back in 2018. However, due to its growing membership, the three founding members have decided to announce its newly formed Secretariat and formal launch today, (attached please find press release). Other members of the Coalition include the Atlantic Council, the European Banking Federation, Europol, the Future of Financial Intelligence Sharing program, Global Financial Integrity, the Institute of International Finance, the Royal United Services Institute, and the World Economic Forum.
The main objectives of the Coalition are to:
- Raise global awareness of financial crime as a critical challenge with grave financial and human consequences
- Promote more effective information sharing between public and private entities
- Propose mechanisms to identify emerging threats and best practice approaches to more robust controls against money laundering
- Identify pressure points in the current anti-money laundering/counter-terrorist framework and propose solutions to these
Click link to view press release
For further information, please refer to the Coalition’s website at the following link: https://www.gcffc.org/