Cracking Down on Illicit Finance: How Public-Private Partnerships Are Evolving to Combat Emerging Risks
The fight against illicit finance is entering a critical phase as new technologies and alternative payment platforms challenge traditional investigative methods. Kevin Newe, HMRC’s Illicit Finances Threat Lead sheds light on how public-private partnerships, international collaboration, and evolving intelligence capabilities are helping law enforcement stay ahead of sophisticated money laundering methodologies.
- Alternative payment platforms like challenger banks and electronic money institutions are increasingly exploited due to gaps in their risk management and KYC processes.
- Public-private partnerships have matured significantly, shifting from transactional interactions to holistic data-sharing strategies that combat systemic financial crime.
- International collaboration and the use of tech-savvy undercover operatives are vital for addressing the anonymity and scale of tech-enabled money laundering.
- HMRC is leveraging third-party data providers and public engagement to augment its capabilities, balancing privacy concerns with the need to disrupt illicit activity effectively.
You are watching a preview. Sign in to watch the full interview.