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Public Private Partnership

The key to creating an effective national financial crime framework

November 2022

Public Private Partnerships (PPP) - by which we mean a collaboration between financial institutions (FI), law enforcement, policy makers and the regulatory community to share information and intelligence to tackle financial crime – have become an increasingly important component of an effective national financial crime framework.

PPPs have shown that by developing frameworks that better enable more intelligence and insight to flow between parties, it is possible to disrupt malign actors more effectively and better prevent criminal misuse of the financial system. They have begun to change the relationship between stakeholders, building frameworks that encourage and enable parties to share as much as possible, rather than as little as is required.

We have identified a number of factors, set out as four ambition statements, which should be addressed domestically and internationally to ensure PPPs are able to reach their full potential as enablers of effectiveness in the global anti-financial crime regime.

  1. PPPs will not scale up as long as they are voluntary and additive. PPP should be an expectation, not an aspiration
  2. Sharing strategic typologies is good – but it is only a start. PPPs must aspire to operate at policy, strategic and tactical levels
  3. Trying to engage all institutions across all sectors is challenging. A clear focus on deeper engagement with the most material stakeholders would accelerate outcomes
  4. PPP needs to industrialise, moving from analogue to digital to amplify its effectiveness

If financial institutions, law enforcement, policy makers and the regulatory community can work towards making these ambitions a reality, this will help Public Private Partnerships realise their potential in the coming years.

If you would like to discuss any of the topics discussed in this report, please contact Chris Bostock.

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