SEC chief to address Cambridge symposium

The Chairman of the Securities and Exchange Commission (SEC) Udayasri Kariyawasam has been invited to deliver a keynote address on September 2 at the Twenty Seventh international symposium on 'Economic Crime' to be held from August 30 - September 6, organised by the Jesus College of the University of Cambridge in the United Kingdom.

The annual Cambridge symposium has over the years established itself as a unique vehicle for promoting at a truly international level, greater understanding of the real and practical issues involved in preventing and controlling economic crime, corruption and abuse, and thereby facilitating meaningful cooperation. It has addressed various topical issues relating to the stability and integrity of the economic system in the past and this year the main focus of the symposium would be on the vulnerability of banking and financial institutions to threats from within their operations and structures. Hence, this year's symposium is titled "The Enemy Within - internal threats to the stability and integrity of financial institutions" with particular attention given to the risk of penetration by organised crime and subversive elements and the impact of corruption. It will also focus on the risks, legal and otherwise, banks and other intermediaries face in attempting to comply with specific laws and in particular those concerned with interdicting the proceeds of crime and corruption and identifying terrorist funds. And unlike in the previous years, emphasis will be placed on the strategy of disruption and alternate enforcement procedures including traditional law enforcement.

Kariyawasam in his keynote address will discuss important and practical issues in protecting financial institutions from the threat of corruption. The session will be devoted to the discussion of the risk of criminal organisations corrupting those in financial institutions either to facilitate crime or the laundering of the proceeds of crime.