BVI Well-Represented at Symposium on Economic Crime

~~Adz:Left~~ Roadtown, Tortola- A high-level delegation representing various sectors of the Virgin Islands recently attended the 26th International Economic Crime Symposium held at Cambridge University, United Kingdom.

Attorney General Hon. Kathleen Quartey, one of the Virgin Islands delegates, said the symposium is a highly-acclaimed gathering of legal practitioners, judges, bankers, academics, law enforcement and investigative agencies. This year’s theme was “Banking On Trouble” and the global financial crisis proved to be a far-reaching area of discussion.

Attorney General Quartey delivered the keynote address on the opening day of the meeting. Other BVI speakers during the week-long event were Director of Policy, Research and Statistics for the Financial Services Commission Mr. Cherno Jallow, Q.C., Director of Public Prosecution Mr. Terrence Williams, and Advisor to the Financial Investigation Agency (FIA) Mr. Graeme Smith.

“It is vital to the core business of the BVI as a financial services centre that high ranking officials continue to present directly at such international fora the position and direction of the Territory,” Hon. Quartey said. She noted that the various BVI speakers spoke on the regulatory and enforcement regime applicable to the investors in our financial services.

Of special mention were the investigative and prosecutorial success of the recent IPOC International Growth Fund case, the abolition by the International Monetary Fund of the distinction between offshore and onshore financial centres for most purposes and the admission of the Caribbean Financial Action Task Force to associate membership of the Financial Action Task Force this year.

Other Virgin Islands delegates to the symposium were FIA Director Mr. Errol George, Financial Service Commissioners Messrs Martin Fuggle and Colin O’Neal, and FSC official Ms. Simone Martin.

Hon. Quartey said the Eastern Caribbean Supreme Court recognises the importance of the judiciary keeping abreast at all times with developments in areas that could well form the basis of cases that come before our courts, and this year the Chief Justice designated two High Court Judges of the Eastern Caribbean Supreme Court to also attend. They were their ladyships Hon. Justice Indra Hariprashad Charles, and Hon. Justice Janice Creque. 

The recent symposium took place at Jesus College, Cambridge from August 31–September 6. In all, there were more than 800 delegates from around the world. The Attorney General said it speaks volumes that, proportionally, so many speakers were invited from the BVI alone.

The annual Cambridge International Symposium on Economic Crime promotes greater understanding of the real and practical issues involved in preventing and controlling economic crime, corruption and abuse, and thereby facilitating meaningful co-operation. It seeks to involve speakers and panellists with practical knowledge and experience from around the world who cannot only share their expertise, but also act as catalysts in promoting awareness and discussion at all levels within the Symposium. The Symposium is organised by a number of leading academic and research institutions throughout the world including the University of Cambridge and the newly established International Association of Anti-Corruption Authorities, on a non-profit basis, with the active support of many governments and organisations.