Dr. Georgios Demetriades participated at the University of Cambridge’s 34th International Symposium on Economic Crime

Dr. Georgios Demetriades, Lecturer in Law at the Neapolis University, had a significant contribution at this year’s International Symposium on Economic Crime, organised by the University of Cambridge, the Institute of Advanced Legal Studies, the National Crime Agency, CODOEC, the City of London Police and the Serious Fraud Office (SFO), participating in a session related to “Due diligence and access to information – the ways and means!”

The Cambridge Symposium has 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 co-operation.

The Symposium took place at Jesus College, University of Cambridge, which ran from September 4-11, 2016.  More than 1,000 delegates attended, including Attorney Generals, international ministers, MPs, judges, lawyers and academics from across the world.  The overall theme of the event was “Economic Crime – where does the buck stop? Who is responsible – facilitators, controllers and or their advisers?”

There is a misleading view that financial institutions are spending enormous amounts on setting the necessary procedures for combating economic crime. However, instead of spending probably it could be better described as a form of investment.

Measures taken to facilitate proper due diligence must be well designed in order to fulfil several objectives, including preventing risk situations from arising, meeting both legal and regulatory obligations and at the same time not minimising the capacity of the institution to gain significant business or keeping their clients happy.