Event detail

AMCHAM / STEP joint November luncheon event- Financial Intelligence (FININT) data: protecting your company from fraud and complying with the new legal reporting requirements

Event Overview

Cercle Munster (5-7 Rue Münster, 2160 Luxembourg)
Event Type
Member Fee
50.00 €
Non Member Fee
50.00 €
Contact Person



Dear AMCHAM/STEP Members and Friends,

The business environment is really dangerous right now. Criminal activities and terrorist organizations are very aggressively trying to involve themselves with legitimate business activities to steal money and intellectual property. They are more and more sophisticated at money laundering and using new and creative means to finance their activities. In response, governments at all levels are every day imposing new requirements accompanied by harsh penalties and expecting companies to know their customers and take aggressive steps to prevent illegal activities from taking place.

One of the areas of Focus both globally and within the Governments in Europe today is how can financial institutions play a more preventative role in countering Terrorist Threats. The 37 members of the global Financial Action Task Force (FATF) have stated recently that greater domestic co-operation among AML/CTF bodies and other authorities is needed to tackle funding of Foreign Terrorist Fighter's, and domestic terrorist threats whether it be Islamist Extremism or Right Wing Extremism, and Financial Institutions must play a key role.  The European Agenda for Security under the auspices of the EU Commissions Action Plan on Terrorism has recognised that there is greater need for a more co-ordinated response across Europe to detect and disrupt Terrorist Financing, Terrorism and Radicalisation. The action plan requires that we cut off resources, detect and disrupt the financing of the terror networks, reduce the ability to travel, buy weapons, explosives and other materials, and deal with those who plot, plan and prepare attacks and espouse hatred within our communities across Europe and around the world.

But in our current financially constrained environment, how can we rise to meet these challenges?

This can be achieved by the smart use of the intelligence capability of software married to appropriate human intervention to recognize which financial products and systems are vulnerable to abuse by Terrorist groups/individuals. The simultaneous application of both strands, intelligence software and human intervention, can ensure a more effective internal interrogation of the data thereby producing highly useful financial intelligence which can be operationalized to prevent terrorism and criminal activities.

Our speaker Grahame White is a consultant working with the Luxembourg CSSF to raise awareness and to train key members of the Luxembourg financial sector in the skills and competencies to use technology and human intervention to:

1/ Detect the radicalization process as it can be identified in a person’s financial footprint that recognizes transactional activity that indicates an increasing desire to engage in overseas jihad or domestic extremism. 

2/ Create a more effective and intelligence focused environment within financial institutions whereby the technology allied with the appropriate human intervention and resourcing can deter and disrupt the descent into extremism, and provide an effective reporting mechanism for Law Enforcement and other Agencies across Europe and USA, against those engaged in terrorist activity.

3/ Allow for the Financial sector to play a more robust and accountable role to support and protect the wider Global community from Extremism and Terrorism, through the effective use of software and data that can trace and track terrorists through their financial movements.

Learn more about keeping your company and the EU safe in these challenging times! Join us!

Sponsors & Partners

  • Benjamin Law Firm