Conference on Illicit Financial Flows

Bucharest, November 27-28, 2014 – Over 50 law enforcement experts gathered and discussed on the topic of illicit financial flows during a Conference jointly organized by SELEC, in the framework of the Financial and Computer Crime Task Force, and UNODC on 27th – 28th of November 2014 in Bucharest, at SELEC Headquarters.

The meeting was chaired by Mr. Cristian Duta, Director for Operations of SELEC, and Mr. Oliver Gadney, UNODC Global Programme.

The aim of the Conference was to bring together law enforcement representatives of the SELEC Member States  and partners – Georgia, Israel, Saudi Arabia, Spain, USA and UNODC, as well as from Iran and Transcrime – Joint Research Centre on Transnational Crime, to discuss on the current situation in the field of countering money laundering and on assumptions and data to be used in UNODC’s upcoming study on estimating illicit financial flows, under the overall goal to enhance cooperation between countries along the Balkan route of heroin trafficking.

On this occasion, Mr. Duta stated: “It is widely recognized that the illicit financial flows represent the biggest impediment to sustainable development and economic stability and prosperity. According to the UNODC reports, about US$80 billion a year turned out from opium trafficking, while the amount of US$13 billion represents the part from the Balkan route. By extending and intensifying the law enforcement cooperation in the field of smuggling and money laundering and implementing long-term solutions, our success will increase considerably and the organized crime activities related to illicit financial flows will not continue to pose such a large threat to the stability and security of the Balkan region.

The participants recognized the value of the conference organized under SELEC and UNODC auspices in establishing and developing an effective network of experts within SELEC and with neighboring regions, as well as in finding ways to continue supporting the Member States’ law enforcement authorities in their common fight against trans-national organized criminality.