Makati City (Philippines), 18 March 2022 -Financial investigations play an important role in undermining the ability of criminal networks to secure, transfer and conceal illicit profits. To do so effectively requires law enforcement, prosecution and financial intelligence agencies to cooperate closely, drawing on technical expertise and a broad understanding of the evolving modus operandi of criminal organizations.
To support such efforts, UNODC held two trainings on financial crime investigations on 14-15 and 17-18 March 2022, to strengthen cooperation between and the capacities of investigators and prosecutors. The trainings looked at schemes commonly used to conceal the proceeds of crime, and ways to build a case against bribery and money laundering, applying techniques to a hypothetical scenario. The multi-agency events brought together two unique cohorts from the Office of the Ombudsman, the Department of Justice’s National Prosecution Service, the National Bureau of Investigation, the Anti-Money Laundering Council and the Securities and Exchange Commission’s Enforcement and Investor Protection Division. A brief video showcasing the trainings is available here.
At the events, participants discussed ways to identify bid rigging schemes and operational steps to take when building an investigation plan. Group activities reflected on ways in which assets are moved around the world using offshore financial institutions, corporate vehicles, intermediaries, and laundering techniques. Investigators therefore need to have an understanding of asset tracing and financial data analysis techniques, to secure evidence that is admissible in court.
A short video showing the highlights of the trainings is available here.
These trainings were part of activities funded by the Ministry of Justice of Government of the Republic of Korea. Footage (where available) and written summaries of UNODC events are publicly available via our website.