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CORPORATE CRIME OBSERVATORY
Economic crime in the age of technology (ECAT)
INTERNATIONAL CONFERENCE - JULY 5, 2023
Economic Crime in the Age of Technology (ECAT): Potential Impact and Implications is a hybrid international conference (in-person and online) that is dedicated to exploring the still untapped potential of utilizing technological advancements to counter economic crime. Its objective is to foster a deeper understanding of how emerging technologies, including artificial intelligence, blockchain, and machine learning, can effectively address economic crimes across various sectors. It is organized by Dr. Costantino Grasso - Associate Professor in Law at Manchester Law School, Dr. Donato Vozza - Senior Lecturer in Law at Roehampton University, and Dr. Alessio Faccia - Assistant Professor in Finance at the University of Birmingham Dubai. The international conference was held both in person and online on the 5th of July 2023.
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EVENT AGENDA AND VIDEO RECORDINGS
ECAT provides an interdisciplinary platform where cutting-edge ideas and insights converge. It aims to uncover the impact and potential implications of technology in the fight against economic crime, examining both the advantages and disadvantages of its transformative power. Specifically, the discussions will focus on how AI, blockchain, machine learning, and other emerging technologies can complement traditional investigative techniques. For example, they can enhance the accuracy of financial compliance processes, aid in the identification and prevention of fraudulent activities, and augment existing methods. However, the discussions at ECAT will also be mindful of the potential risks and ethical dilemmas associated with these technological advancements. Privacy concerns, data protection, algorithmic bias, and unintended consequences will be carefully considered and addressed. The overarching goal of ECAT is to serve as a catalyst for collaboration and knowledge sharing, fostering interdisciplinary dialogue, and nurturing partnerships among academia, law enforcement agencies, financial institutions, technology companies, and policymakers. By promoting these collaborations, ECAT aims to create a robust framework for addressing economic crime, leveraging the expertise and resources of various stakeholders to develop effective and ethical solutions.
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PRESENTATIONS - VIDEO RECORDINGS
Session 1 "Technology in Countering Economic Crime: Ethics and Accountability"
Chair: Donato Vozza
Speaker: Costantino Grasso - Ethical Considerations in Utilizing Technology to Combat Economic Crime
Suggested Citation
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BLUEBOOK: Costantino Grasso, ‘Ethical Considerations in Utilizing Technology to Combat Economic Crime’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), DOI 10.5281/zenodo.8121278, www.corporatecrime.co.uk/economic-crime-and-technology
Session 1 "Technology in Countering Economic Crime: Ethics and Accountability"
Chair: Donato Vozza
Speaker: Claudia Sandei - Cyber-attacks and Directors’ Liability
Suggested Citation
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BLUEBOOK: Claudia Sandei, ‘Cyber-attacks and Directors’ Liability’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 1 "Technology in Countering Economic Crime: Ethics and Accountability"
Chair: Donato Vozza
Speaker: Liemertje Sieders - Technology in Human Rights Supply Chain Monitoring: Opportunities and Risks
Suggested Citation
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BLUEBOOK: Liemertje Sieders, ‘Technology in Human Rights Supply Chain Monitoring: Opportunities and Risks’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 1 "Technology in Countering Economic Crime: Ethics and Accountability"
Chair: Donato Vozza
Speaker: David Banisar - Information Technology and Transparency: The User Push for Data
Suggested Citation
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BLUEBOOK: David Banisar, ‘Information Technology and Transparency: The User Push for Data’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 1 "Technology in Countering Economic Crime: Ethics and Accountability"
Chair: Donato Vozza
Speaker: Laxmi Devi -The Driving Force for Technologically Enhanced Interdisciplinary Legal Programs
Suggested Citation
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BLUEBOOK: Laxmi Devi, ‘The Driving Force for Technologically Enhanced Interdisciplinary Legal Programs’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 2 "AML in the Digital Age: Challenges and Prospects"
Chair: Alessio Faccia
Speaker: Federica Nappa - Anti-Money Laundering: New Prospects in the Digital Society
Suggested Citation
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BLUEBOOK: Federica Nappa, ‘Anti-Money Laundering: New Prospects in the Digital Society’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 2 "AML in the Digital Age: Challenges and Prospects"
Chair: Alessio Faccia
Speaker: Adam Abukari - Challenges of Regulatory Playbook for Anti-Money Laundering Software Market in EU
Suggested Citation
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BLUEBOOK: Adam Abukari, ‘Challenges of Regulatory Playbook for Anti-Money Laundering Software Market in EU’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 2 "AML in the Digital Age: Challenges and Prospects"
Chair: Alessio Faccia
Speaker: Ahmed Eltweri - Money Laundering Regulations in Libya: Assessing Effectiveness and Enhancing AML Efforts
Suggested Citation
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BLUEBOOK: Ahmed Eltweri, ‘Money Laundering Regulations in Libya: Assessing Effectiveness and Enhancing AML Efforts’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 2 "AML in the Digital Age: Challenges and Prospects"
Chair: Alessio Faccia
Speaker: Gert Demmink - The Use of Technology Preventing Misuse of Technology in the Age of Proliferation
Suggested Citation
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BLUEBOOK: Gert Demmink, ‘The Use of Technology Preventing Misuse of Technology in the Age of Proliferation’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 3 "Enhancing Investigations: AI, Digital Evidence, Disclosure, and the Metaverse"
Chair: Costantino Grasso
Panelist: Zeinab Abdollahkhani - Intelligent Investigator in Corporations
Suggested Citation
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BLUEBOOK: Zeinab Abdollahkhani, ‘Intelligent Investigator in Corporations’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 3 "Enhancing Investigations: AI, Digital Evidence, Disclosure, and the Metaverse"
Chair: Costantino Grasso
Panelist: Paul Wright - Investigating Digital Evidence: Enhancing Traditional Techniques with an InvestigatorGPT
Suggested Citation
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BLUEBOOK: Paul Wright, ‘Investigating Digital Evidence: Enhancing Traditional Techniques with an InvestigatorGPT’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 3 "Enhancing Investigations: AI, Digital Evidence, Disclosure, and the Metaverse"
Chair: Costantino Grasso
Panelist: Gaetano Senatore - The Guardia di Finanza and the Fight against Economic and Financial Crime
Suggested Citation
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BLUEBOOK: Gaetano Senatore, ‘The Guardia di Finanza and the Fight against Economic and Financial Crime’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 3 "Enhancing Investigations: AI, Digital Evidence, Disclosure, and the Metaverse"
Chair: Costantino Grasso
Panelist: Christopher Sykes - Disclosure and AI
Suggested Citation
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BLUEBOOK: Christopher Sykes, ‘Disclosure and AI’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
Session 3 "Enhancing Investigations: AI, Digital Evidence, Disclosure, and the Metaverse"
Chair: Costantino Grasso
Panelist: Fabio Coppola - Possible Use of the Metaverse in the Prevention of Corporate Crimes
Suggested Citation
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BLUEBOOK: Fabio Coppola, ‘Possible Use of the Metaverse in the Prevention of Corporate Crimes’, International Conference: Economic Crime in the Age of Technology (ECAT), CORPORATE CRIME OBSERVATORY, at ​[00:00] (July 5, 2023), www.corporatecrime.co.uk/economic-crime-and-technology
SPEAKERS' BIOGRAPHIES
Zeinab Abdollahkhani
Zeinab is a Ph.D. candidate in Criminal Law and Criminology at the University of Tehran and a lecturer at Payam Noor University. Zeinab holds a Master’s degree in Criminal Law and Criminology. she has previously worked as a legal advisor at the Social Security Investment Company (SSIC) and is a member of the Central Bar Association in Iran.
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Intelligent Investigator in Corporations
Corporations can be victims of various types of economic crimes. To prevent these crimes, it’s important to analyze red flags within corporations on a daily basis and alert them. An intelligent investigator, based on machine learning, can assist corporations in identifying existing red flags and recognizing new ones through learning.
Adam Abukari
Adam is an Assistant Professor of Law at the Centre for Financial and Corporate Integrity, Coventry University. His research interests include financial crime and artificial intelligence. He currently works on TRACE project to track illicit money flows. Adam holds PhD in law (Kingston University) and LLM (University of Nottingham). He has over a decade of experience in project management, and research.
Challenges of Regulatory Playbook for Anti-Money Laundering Software Market in EU
There has been a significant increase in the market size of AML software in the European Union (EU) since 2022. This presentation explores the key challenges and prospects for effective and efficient regulation of the AML software market to enhance the more significant impact of this market on fighting money laundering in the EU.
David Banisar
David is a Visiting Senior Fellow at the London School of Economics and a Senior International Fellow at the Government Accountability Project in Washington, DC. He was previously the Head of Transparency for ARTICLE 19, a Research Fellow at the Kennedy School of Government at Harvard, and a Visiting Fellow at the University of Leeds School of Law.
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Information Technology and Transparency: The User Push for Data
Over the past two decades, anti-corruption and good government-focused citizen movements have successfully persuaded many governments to disclose to the public data they hold, including related to public procurement and public officials’ assets and conflict of interest disclosure forms, and recently beneficial ownership. The data is increasingly being released in open and reusable formats to allow CSOs and journalists to create their own databases to identify potential corruption and track money flows and facilitate many of the advanced technological tools for anti-corruption. This talk discusses the motivations, successes, and roadblocks for these movements, focusing on beneficial ownership data.
Fabio Coppola
Fabio is a Researcher in AI, Cybersecurity, and Criminal Law at the Law School - University of Salerno. He held positions as visiting scholar and researcher at the Universities of Cambridge, Oxford, and Coventry, and he is currently a Visting Scholar at Manchester Law School. Fabio is the author of numerous publications in scientific journals, both in English and Italian.
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Possible Use of the Metaverse in the Prevention of Corporate Crimes
Starting from the analysis of the compliance era, which encourages companies to actively participate in preventing corporate crimes through compliance programs, I am proposing a potential enhancement in digital compliance by leveraging AI tools, specifically the Metaverse as a 'digital twin' of the real world.
Gert Demmink
Gert is a lawyer, auditor, and advisor to Safe Trade Corridors, a Hague-based firm developing algorithms and automated solutions for dual-use goods screening. He is an advisor to the enforcement function of the Central Bank of the United Arab Emirates and an interim judge in the Amsterdam Court.
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The Use of Technology Preventing Misuse of Technology in the Age of Proliferation
A technology solution, gleaning data from waybills, and bills of lading, comparing with publicly available data in export control lists may help shippers, freight forwarders, logistics service providers, banks and transport insurers quicker identify exports of potential dual-use goods/technology. AI and ML are key to such a solution.
Laxmi Devi
Laxmi is a Lecturer in Law at Multimedia University Malaysia. She graduated with First-Class Honours from the University of Liverpool, where she obtained her LLM. She has also worked as a research assistant for medical law journals in the UK and Malaysia. She has authored and co-authored several papers and contributed to a few book chapters.
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The Driving Force for Technologically Enhanced Interdisciplinary Legal Programs
There have been various paradigm shifts in the realm of economic crimes with the rise of technology. Economic crimes in the digital era are more difficult to detect and prevent. Financial institutions, law enforcement agencies, and even lawyers are in need of technologically inclined graduates with a strong grasp of financial crime, banking, and evasion tactics. As such the need to prevent and detect economic crimes in the age of technology is an excellent driving force to push for technologically inclined interdisciplinary legal programs. There are many benefits to be reaped from such programs for the legal graduate, the legal industry, financial and economic realms, and the legal education system.
Ahmed Eltweri
Ahmed is a Senior Lecturer at Liverpool John Moores University, specializing in auditing and finance. His research interests encompass the technological impact on accounting practices, the implementation of rigorous regulations in accounting and auditing, and their application in developing countries. Engaged in collaborative efforts, he actively contributes to research and knowledge exchange, particularly in the context of Libya.
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Money Laundering Regulations in Libya: Assessing Effectiveness and Enhancing AML Efforts
This concise presentation offers an overview of money laundering regulations in Libya, evaluating their current state and effectiveness in combating money laundering activities. Emphasizing the significance of robust measures, the presentation highlights the need for international cooperation to strengthen anti-money laundering efforts in the country. By addressing key challenges and providing recommendations, it aims to contribute to the improvement of the regulatory framework and enhance the effectiveness of anti-money laundering initiatives in Libya.
Costantino Grasso
Costantino is an Associate Professor in Business and Law at Manchester Law School, Founder and
Editor in Chief of the Corporate Crime Observatory and the Corporate Social Responsibility and Business Ethics Blog. He specializes in corporate and economic crime, corporate governance, corporate social responsibility, and whistleblowing. He serves as an international expert on corruption and good governance for the Council of Europe and has acted as a Principal Investigator for both EU-funded and NATO-funded international research projects.
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Ethical Considerations in Utilizing Technology to Combat Economic Crime
The rapid advancements in technology have paved the way for innovative solutions in combating economic crime. Despite the evident innovative potential of technology in this area, it is nevertheless necessary to analyze the potential risks and ethical dilemmas associated with these technological advancements. This presentation will discuss this issue, focusing on the need to establish not only internal controls but also external and independent monitoring systems on how these new technologies can be integrated for the purpose of countering financial crime, particularly within the corporate environment.
Federica Nappa
Federica is a critical criminologist and cyber security consultant at Capgemini. She graduated with an M.A. at Utrecht University in Global Criminology, after a B.A. in International Affairs with a minor in Communication at John Cabot University. She is a passionate researcher with a special focus on corporate crime, cybercrime, and organized crime.
Anti-Money Laundering: New Prospects in the Digital Society
Money laundering and anti-money laundering (AML) have faced tremendous changes with the advent of
globalization and digital technologies. Through a critical criminology analysis, this research aims at presenting all these innovations and reimagining anti-money laundering through digital technology frameworks. By outlining the shortcomings of current criminological theories and AML regulations, this presentation demonstrates that more dynamic, cross-border, and interdimensional controls of money laundering are possible through the implementation of digital technologies in AML efforts.
Claudia Sandei
Claudia is an Associate Professor of Company Law at the University of Padova and a Professor of EU Financial and Technology Law at the University of Hong Kong. She is also the Director of the Innovation and Technology Law Lab. She is the author of two books on the impact of technology on listed companies and of many articles on the intersection of technology and business, and financial law.
Cyber-attacks and Directors’ Liability
As the risk of a cyberattack grows, it is pivotal to consider whether the directors of a company hit by a ransomware attack, for example, can bear any liability for failing to take steps to limit the risk.
The topic is still in its infancy. However, in addition to some legislative changes (e.g. NIS 2), some recent cases show that, besides potential civil litigation liability exposure, corporate executives may also face potential regulatory liability and even criminal liability exposure for cyber security incidents at their firm.
Gaetano Senatore
Gaetano is a Colonel of Guardia di Finanza with more than 30 years of experience in Economic and Financial Crime, since August 2021, Gaetano has been the Expert for EF Security at the Italian Embassy in London. Graduated in Law, EF Security Science and Political Science, with a Specialized Master in International Tax Law at “Bocconi” University.
The Guardia di Finanza and the Fight against Economic and Financial Crime
Starting with a brief description of the organization and tasks of the Guardia di Finanza, a modern economic and financial police force with nearly 250 years of history, I highlight the main and recent modern technologies used to carry out threat analysis and targeting activities to combat organized crime.
Liemertje Sieders
Liemertje is a New York-qualified attorney with experience working as Litigation Associate as well as a BHR Compliance Specialist with experience in both the energy and technology sectors. She specializes in financial crime, corporate social responsibility, gender equality, and business & human rights.
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Technology in Human Rights Supply Chain Monitoring: Opportunities and Risks
Across the world, with the EU most recently leading these efforts, regulatory trends around corporate obligations to respect human rights in their operations and across their supply chains are shifting from the soft to the hard law space. Simultaneously, recent technological advancements (blockchain, AI and others) are being made which will likely redefine how companies implement these legislative obligations across vast and complex supply chains, and how regulators monitor compliance therewith. Liemertje will explore both the opportunities and risks inherent in these developments.
Christopher Sykes
Chris is a Senior Lecturer and Programme Lead for the LLM Legal Practice at Manchester Law School. He was a criminal defense solicitor, primarily practicing in the area of ‘white collar’ crime. He then worked as a teacher of legal skills and law in Spain, before co-founding Hong Kong-based legal tech business Zegal. He has since worked as a Lecturer at BPP Law School. His main area of interest is legal technology.
Disclosure and AI
Disclosure is fundamental to criminal litigation and has become increasingly complex in recent years due to the size of data that must be reviewed. This presentation will discuss the use of AI in disclosure and the risks/problems in doing so.
Paul Wright
Paul is a Senior Advisor - Forensic Technology and Investigations at Accuracy. Paul is a specialist with 25 years of experience in cybercrime, incident response, and digital forensics. He has a public and private sector track record of successfully delivering on investigative engagements for clients across the globe, which has resulted in him acting as an expert witness in both criminal and civil courtrooms worldwide.
Investigating Digital Evidence: Enhancing Traditional Techniques with an InvestigatorGPT
This presentation will explore the potential of synergy between AI and investigative techniques. It will examine potential training processes, requisite datasets, and fine-tuning goals to see the potential for superior digital evidence analysis and crime detection, along with the potential pitfalls.