Our Thursday evening Science Group discussion will cover:
Types of financial crime (discussion of each)
Fraud (many sub-types)
Money laundering and those who enable it
Bribery and corruption (offering/receiving bribes
Market abuse eg insider trading
Terrorist financing
Who commits financial crime?
Organised criminals
Corrupt senior officials
Professional enablers (for money laundering)
Terrorist groups
Business leaders
Employees
Firms’ customers/contractors/suppliers
Anyone
Focus on fraud (as this is the financial crime that most affects individuals)
Our speaker: Edna Young
After graduating in Russian at the University of Birmingham (including a year’s British Council scholarship at Kyiv State University), Edna joined the Foreign Office. where she served in Bonn, the British Military Government, Berlin, and at the UK Mission to the UN in New York. In 1984 she organised Mikhail Gorbachev’s first visit to the UK. She later moved to the Treasury, where she set up a division responsible for the UK’s economic and financial relations with the emerging market economies of Central and Eastern Europe. Her final Treasury post was as head of division responsible for policy on financial crime, including leading the UK delegation to the Financial Action Task Force, the international standard-setting body on anti-money laundering and terrorist financing.
Edna then moved into financial services regulation, working first at the Bank of England and then the Financial Services Authority (FSA), and its successor, the Financial Conduct Authority (FCA). For most of this time Edna focused on financial crime issues. For several years she ran the Financial Fraud Information Network (now the Financial Crime Information Network), which was set up in the aftermath of the Bank of Credit and Commerce International scandal to provide a framework for sharing information between UK regulators and law enforcement agencies on actual or suspected serious crime affecting the UK’s markets.
When the FSA set up a new Financial Crime and Intelligence Division, Edna set up its first specialist financial crime supervision team. This gave the FSA the capacity to undertake more and deeper industry-wide reviews of high priority financial crime issues, to provide expertise for the financial crime aspects of the FSA’s risk assessments of regulated firms, and to carry out work on individual financial crime issues in firms. The team produced well regarded published work on data security, firms’ compliance with financial sanctions and on banks’ management of high risk money laundering situations.
Since leaving the FCA in 2018 Edna has been providing consultancy services on financial crime systems and controls in financial services firms. She is also a Trustee Director of the Fraud Advisory Panel, a counter-fraud charity that champions best practice in fraud prevention, detection, investigation and prosecution, and helps organisations to protect themselves against fraud.
Please book by 1pm on the day of the event
Free to all