Focus on combatting corruption in the region

Over 1 000 officials from the financial services and related sectors in 46 countries are expected to participate in one of the hemisphere’s largest virtual conferences on corruption, cyber-crimes and compliance this week.

The two-day conference, Caribbean Conference on Corruption, Compliance and Cybercrime (3Cs 2022), hosted by the Barbados-based Caribbean Development Bank (CDB), starts on Wednesday and will also examine sports corruption and governance, as well as the “stunning collapse” of The Bahamas-registered crypto-currency exchange FTX.

With the overarching theme of Good Governance for the Sustainable Development of the Caribbean, the conference will feature some of the world’s experts and thought leaders on solutions to corruption, cyber-crimes and compliance in the Caribbean.

Experts from outside the Caribbean include keynote speaker Professor Nikos Passas, Bryan Smith Chief of Cybercrimes with the United States’ Federal Bureau of Investigation (FBI) and Patrick Killeen, head of the International Anti-Corruption Unit of the FBI. 

Commenting on the important conference, Dr Toussant Boyce, Head of CDB’s Office of Integrity, Compliance and Accountability which is coordinating the event, said: “Corruption, money laundering and cybercrime are urgent challenges for the Caribbean. They can stymie economic growth and sustainable development, if not addressed robustly.

“Unfortunately, the perpetrators of corruption, money laundering and cybercrime continually update and evolve their methods and tactics. Through 3Cs, CDB delivers free, cutting-edge thought leadership and insights on these critical issues so those on the right side of the fight can continue to keep their knowledge cutting-edge.

“Anyone can attend, and everyone should join to learn more about these challenges, how they are connected and solutions to them,” he added.

In a release from the CDB, it was noted that keynote addresses will be given by Professor Trevor Munroe on Good Governance and the Judiciary, United Kingdom Development Director Malcolm Geere on Corruption and Climate Finance, US Sanctions Expert Glen Kelley on Financial Sanctions, Microsoft Director Norm Hodne on How Technology can help the Caribbean Governments and Private Sector to Curb Corruption and a Roundtable on Solutions to De-risking.

A roundtable comprising Directors of Financial Intelligence Units (FIUs) from Jamaica, Barbados, Trinidad and Tobago, Guyana and the Cayman Islands and moderated by Calvin Wilson, former Executive Director of the Caribbean Financial Action Task Force (CFATF), will cover the Critical Work and Role of FIUs in the Evolution of AML/CFT Compliance in the Caribbean. Power Panels will also cover Corruption and its Impact on Youth, Education and Culture.

Two new major panels on current issues have been added. One on Corruption and Sport: Lessons and Solutions for the Caribbean will see world-renowned retired international footballer and senior ESPN analyst Shaka Hislop, and retired West Indies cricketer Ambassador Deryck Murray join sports publicist Carole Beckford, broadcast sports journalist Andre Baptiste, and sports corruption expert Professor Declan Hill. The other will cover The FTX Scandal and its Implications for the Caribbean.

Registration for the conference is through the CDB website. (IMC1)