Capacity Development Talk: Mitigating Cross-Border Money Laundering Risks on Financial Stability

Thursday, Oct 24, 2024 | 11:00 AM - 11:25 AM

Location: Cedar Hall HQ1-1-660

 

OVERVIEW

The talk will present how dirty money and financial integrity failures can impact financial stability, drawing on the Nordic Baltic Capacity Development (CD) project. The project illustrates how curbing cross-border illicit proceeds demands a united global effort and innovative analytical approaches that includes the analysis of exposure to cross-border financial flows, further consideration of the impact of financial integrity failures on financial stability and strengthening frameworks for AML/CFT risk-based supervision. The event will showcase collaboration with the Nordic Baltic (and in particular, Sweden) on this topic, with a focus on recent work to better analyze the impact of financial integrity failures on financial stability along with synergies between the Legal Department’s CD and the Fund’s broader surveillance activities (Article IV consultations and Financial Sector Assessment). It will also highlight the availability of the CD tools for the broader membership. 

 

SPEAKERS

 

 

 

 

Erik Blomme

Director of AML Supervision, Financial Supervisory Authority, Sweden

  

 

 

Erik Blomme has a background as a Judge and Public Prosecutor. Experience from working with AML/CFT related matters on a policy and legislative level, as a Legal Advisor with the Swedish Ministry of Finance. Long time member of the Swedish delegation to the FATF.

     

Chady El Khoury

Deputy Division Chief of the Legal Department's Financial Integrity Group, IMF

  

Chady El Khoury is Deputy Division Chief of the Legal Department’s Financial Integrity Group at the IMF. He joined in 2007. His areas of expertise include anti-money laundering and combating the financing of terrorism (AML/CFT), anti-corruption, and broader governance and financial integrity issues. Before joining the IMF in 2007, he worked at the financial intelligence unit (SIC) of the Lebanese Central Bank. Mr. El-Khoury received his legal and finance education in Lebanon and France. 

     

Mindaugas Leika

Senior Financial Expert, Monetary and Capital Markets Department, IMF

  

Mindaugas Leika is a Senior Financial Sector Expert at Financial Sector Assessments and Policies Division and has participated in FSAPs, Article IV visits as well as technical assistance missions to more than 35 countries, including USA, Japan, Euro Area, France, Italy, Finland; taught systemic risk courses at IMF Regional Institutes in Vienna, Kuwait and Singapore. He was a deputy mission chief for the 2023 Sweden FSAP. His expertise spans stress testing, risk modeling, financial stability analysis and macroprudential policy. Previously, his positions included Advisor to The Governor at the Central Bank of Lithuania; Member, Advisory Technical Committee of the European Systemic Risk Board; Head of Financial Stability Division at the Bank of Lithuania and Member of European Central Bank’s Banking Supervision Committee. Mindaugas has an M.Sc. degrees from the Massachusetts Institute of Technology and Vilnius University.

     

Yan Liu

General Counsel and Director of the Legal Department, IMF

  

Yan Liu is General Counsel and Director of the Legal Department of the International Monetary Fund. She advises the IMF’s Executive Board, management, staff, and country membership on all legal aspects of the Fund’s operations, including its lending, surveillance, capacity development, regulatory and advisory functions. Ms. Liu has led the Legal Department’s work on a range of policy, country, and strategic issues, including reforming IMF lending policies; helping strengthen central banking and financial sector legal frameworks in response to technological changes; leading work on cross border payments, AML/CFT, corporate and household insolvency, and debt management; and contributing to the development of international standards for financial regulation.

     

Anna Seim

Deputy Governor, Riksbank, Sweden

  

Anna Seim took up the post of Deputy Governor of the Riksbank on 22 May 2024. Her international assignments include IMF cooperation in general, IMF cooperation between Sweden, the Netherlands, Belgium and Switzerland (G4 Deputies), Nordic-Baltic Monetary and Financial Committee (NBMFC) and the FSB Regional Consultative Group for Europe. Anna Seim has a Ph.D. in Economics from the Institute for International Economic Studies (IIES) and was a Professor of Economics at Stockholm University prior to joining the Riksbank. She has published in a number of leading economic journals