The Caribbean has seen an uptick in financial crimes, including fraud schemes, in recent years. Financial fraud has a widespread footprint across the region, involving hundreds of millions if not billions of dollars in illicit proceeds each year, impacting the economic security of countries and the region as a whole, and generating a certain level of associated violence.

Leading the session is Channing Mavrellis with Global Financial Integrity (GFI) who will discuss a recent GFI report that examines the prevalence and dynamics of this financial crime. The report (link here) focuses on the different frauds and scams that impact the Caribbean region, primarily advance fee frauds along with pyramid and Ponzi schemes. It analyzes the actors and facilitators involved, the methods of contact used by perpetrators, and the channels utilized to move the associated proceeds.