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Interpol launches new centre to fight crime and corruption

Monday 21 March 2022 12:54 CET | News

The International Crime Police Organization (Interpol) has launched a Financial Crime and Anti-Corruption centre (IFCACC) to ensure a coordinated global response against the increase in transnational financial crime.

Following a 2020 survey conducted by Pwc stating that 47% of the responding companies have fallen victim to financial crime in the past 24 months, Interpol’s new centre aims to expand and streamline the world police body’s existing initiatives in handling financial crime and existing AML policies. By adopting a multi-agency approach, the IFCACC will work closely with stakeholders to better fight against financial crimes. 

IFCACC will mainly target fraud and payment crime, money laundering and asset recovery, as well as corruption and will provide investigative, operational, and analytical support.

Fraud has become the common type of criminality in some countries, and the boom of the ecommerce sector as an alternative to in-house shopping throughout the COVID-19 pandemic also allowed for fraudsters and cybercrime to evolve, becoming more sophisticated, causing more damage, and being harder to identity and combat.

Source: Link


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Keywords: AML, fraud management, fraud detection, online fraud, ecommerce, cybercrime, COVID-19
Categories: Fraud & Financial Crime
Companies:
Countries: World
This article is part of category

Fraud & Financial Crime