INTRODUCTION Contributed by: Deepak Vij, ABV Solicitors
In conclusion Financial crime is a global epidemic. It has been and remains a threat to the integrity of the world’s corpo - rate and financial system. The year-on-year growth rate of the losses associated is colossal. The illicit proceeds are globally laundered to fund further crimes including terrorist financing and human trafficking. Financial crime is industrialised and global. Criminals are innovative, adopting and enhancing the effective - ness of their fraudulent schemes via technological advances such as AI to exploit the financial system for their own gain and at a pace at which funds have dis - appeared through faster digitalised payment channels and moved across borders even before detection. These technological advances have reshaped the global financial crime landscape, making financial crime more difficult to combat and more lucrative for the criminal enterprises. It seems that the global consensus to combat financial crime is to: • continue to develop legal frameworks and to try to harmonise with other jurisdictions; • expand enforcement and make international co- operation and collaboration with law enforcement agencies easier; • have mechanisms in place such as DPAs and whis - tle-blowing provisions with incentives to encourage disclosure of corporate wrongdoing;
• make compliance and governance including risk assessment mandatory for corporate, legal and financial institutions to prevent or make it difficult for the criminal enterprises to exploit the financial system; • provide law enforcement agencies globally with the tools and resources to investigate and to detect financial crimes as early as possible to mitigate losses and to also be able to recover the proceeds of crime and use sanctions when necessary; • invest in and utilise technological advances and AI to prevent, detect and mitigate financial crime. This final point, however, presents both opportunities and challenges. While AI promises faster detection and improved risk assessment, it is of concern to all to ensure that its use remains explainable, unbiased and supported by adequate human oversight. The 2026 edition of the Chambers Financial Crime Global Practice Guide has been written to ensure that practitioners are equipped to manage all aspects of financial crime in the jurisdictions in which they oper - ate and are able to advise their clients accordingly. The Chambers Global Financial Crime Guide provides both assistance and insight to those who operate in the corporate sector. It is an informative resource that focuses on and explains the key issues that are faced at all stages of an investigation.
14 CHAMBERS.COM
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