The conference looked over two days at practical approaches to identifying and tackling the potential pitfalls faced by those using financial instruments within international banking and financial services. Delegates listened to experts from around the world on methods to tackle fraud, and were particularly interested in hearing about the latest fraud trends and developments, and how to tackle financial crime, money laundering and counter terrorism financing issues.
Many Ponzi schemes have been coming to light recently, perhaps because of the financial downturn having prompted investors to try to get their investments back, thereby undermining the entire basis for the scheme. Courts have also been dealing with many claims globally, as victims have sought to recoup their losses from those with the deepest pockets. Claims have been brought against investors who have managed to get their money out, lawyers, accountants and financial institutions who have provided banking facilities for the scheme to name but a few.
Fraud, financial crime and the recovery of assets on behalf of victims is an important practice area for Morton Fraser. We have a specialist team which works for government bodies, financial institutions, companies and individuals. I am also the Scottish member of the International Chamber of Commerce's Fraudnet, which brings together leading experts in fraud and asset recovery from almost seventy jurisdictions around the world, enabling an expert team to be pulled together at short notice to take action immediately to freeze and then recovery assets, maximising a client's chances of making a successful recovery.
If you would like more information, please feel free to contact me on the details below.