Miami – The former federal prosecutor who led the case against the huge Swiss bank, UBS, for conspiring to hide secret multimillion dollar bank accounts of US citizens from the IRS and other US authorities, will discuss how senseless government silos and turf battles, preventing interagency cooperation can prevent government eyes 
from detecting crimes recovering assets.
Jeffrey Neiman, who spent a long, illustrious career as a Department of Justice* prosecutor in Washington and as an Assistant US Attorney* in South Florida, will be a principal speaker at the Annual Conference of the International Association for Asset Recovery* (IAAR) in Las Vegas, November 17-18, at Planet Hollywood.
A panel of experts will explore how an ineffective, compartmentalized approach to financial crime that has become the norm for the US government agencies effectively left millions on the table in the high-profile cases and how this approach can be remedied.
The groundbreaking session will illustrate how the enormous tax frauds at UBS and other banks could have yielded even more prosecutions – and could in the future – if agencies and compliance professionals are better able to remove the silos that separate their disparate teams.
“The traditional approach to economic crimes and their inseparable cousins, money laundering and asset recovery*, is siloed, stale, ineffective and entrenched for decades,” said IAAR President Charles A. Intriago, who founded the Association of Certified Anti-Money Laundering Specialists (ACAMS) in 2001, the worldwide certification gold standard in that field.
“It’s time to stop the waste from a siloed approach to economic crime and the lack of cooperation between public and private sectors, especially when they both seek the same ends. To paraphrase Ronald Reagan, "Economic crime fighters of the world, ‘Tear down these silos!’”
"Financial crimes are increasingly more complex to unravel. Whether you’re an investigator, compliance officer or attorney*, it’s essential to build a solid team that works together to understand the crime. Only perpetrators of financial crime benefit from turf battles. Technology makes it easier than ever for a team to work together to achieve its goals," said Neiman.
In the United States and most countries, financial institutions, government agencies, and businesses attack financial crime through silos. The enormous cost is reflected in reduced effectiveness and productivity because of this splintered approach. The winner is the financial criminal. In cases of massive tax evasion, fraud, foreign corruption and others, billions of dollars often stay in criminal coffers because of the siloed approach to economic crime.
The experts at the conference will dissect how this approach to economic crime works and how the silos can be torn down to achieve a more coordinated, effective, economical and efficient approach to this criminal plague that permeates the world.
Financial institutions, lawyers and government agencies will get top guidance
The conference panelists will identify best practices that financial institutions, commercial businesses, government agencies, regulators and enforcement agencies should implement to improve their success against economic crime, including FCPA, national and international sanctions, regulatory compliance and other areas that are presently fractured and diffused.
The Emergence of ‘Convergence’ and ‘FRAML’
Frustration with the inefficiencies and ineffectiveness of a splintered approach to economic crimes and their offshoots, like sanctions and compliance, has given rise to an emerging concept known as “convergence.” Many questions arise:
The panelists will also dissect the three common factors that all economic crimes have to underscore the importance of "convergence":
Neiman and three other experts will join on a special panel at the IAAR Las Vegas conference to show how best to "tear down these silos" to achieve greater success against economic crimes. The panel will be moderated by Intriago, a world thought leader on financial crime who founded IAAR and ACAMS.
About IAAR and the IAAR Annual Conference
IAAR is the international member organization for private sector and government professionals who work to recover assets derived from illegal activity or withheld from their rightful owners.
IAAR provides to members news, specialized information, best practices, access to worldwide experts, and practice resources in the evolving field of asset recovery*. The primary aim of IAAR is to equip its members to succeed at tracing and recovering assets, build better cases and advance their careers. Under the guidance of an Advisory Board of experts in global asset recovery*, IAAR serves its members with top-quality educational and career development programs, information exchanges and first-rate networking.
The IAAR Annual Conference features 23 expert speakers sharing best practices to take back assets from fraudsters and other economic criminals. Private and public sector professionals, including lawyers, investigators, forensic accountants and technology experts, will speak on 17 sessions in two days. In addition, the conference provides numerous networking opportunities so that the attendees can expand their networks and share challenges and best practices with colleagues from many places.
(Accredited members of the media may obtain access to the news portion of iaaronline.org, and credentials to cover the IAAR 3rd Annual Conference, on November 17-18, at the Planet Hollywood Resort in Las Vegas, by contacting David Quinones, Executive Director, at 786-517-2704 or dquinones@iaaronline.org.)
International Association for Asset Recovery*
444 Brickell Ave., Suite 250
Miami, FL 33131 USA
iaaronline.org
