Economic crime poses a serious financial and social threat to communities, endangering citizens, governments, and businesses alike. To effectively eliminate this threat, a coordinated and collective response is urgently required.
The global pandemic and rising geopolitical tensions have only heightened the need for urgent action. These crises have not only exposed instances of rogue governance but also revealed how sophisticated criminal networks have exploited emergency responses during COVID-19 for illegal gain.
Despite billions of dollars invested by both the public and private sectors to tackle these crimes, combating financial crime remains one of the most complex challenges in the system today.
To address the scale of illegal financial activity, governments, financial institutions, and private companies must work together. A unified and strategic approach is essential for developing and implementing effective solutions.
Deloitte has responded to this need by launching its Illicit Finance Initiative, which brings together key stakeholders from both public and private sectors to develop strategies for fighting financial crime. As part of this effort, Deloitte created the Forum to Combat Illicit Finance. The forum is designed to gather critical insights and build partnerships with leading industry organizations, aiming to strengthen global resilience and stop the flow of illegal funds.
By collaborating with governments, financial institutions, and businesses, the initiative and the forum provide actionable insights and guidance. This support empowers organizations to navigate the complexity of financial crime and take meaningful steps to protect society.
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