ICALS 2024

"Financial Crime in the Digital Era"

Speaker 1

Conference Backgrounds

In the midst of increasingly complex global dynamics, integration between scientific disciplines is becoming more and more important increasingly important. This International Conference aims to unite ideas and practices from three main area: accounting, law, and sociology. With combining these perspective, we can generate insights that more in depth about the complex interaction between social, economic, and systems law in the era of globalization.    
For example, from a global perspective, financial crime is a complex challenge because cross national borders and often involve international networks. A number of relevant aspects in understanding financial crime from a global perspective include: Financial crime often involves cross-border transactions and the movement of assets through the system global finance. Therefore, international corporation between countries in sharing information, investigating cases, and prosecuting perpetrators has never been more important. Intiativies such as exchange of financial information, coorporation between enforcement agencies laws, and harmonization of international regulation help increase effectiveness in fighting financial crime at the global level.
Global financial intitutions such as banks, capital markets and other financial intitutions have key role in preventing and detecting financial crime. They must comply with anti-money laundering (AML) and anti-Fraud standards, and implementn strict reporting procedures for suspicious activity. Involmentn financial instituations in monitoring cross-border transaction is very important for stop flow of illegal funds.
Technological devolopments have brought new challengs as well as opportunities in combat financial crime globally. On the one hand, technology provides the ability to detect suspicious transaction patterns through data analysis and artificial intelligence. On the other hand, financial crimes are also increasingly adopted technology to commit criminal acts, such as data theft or use cryptocurrency for money laundering. Therefore, technological innovation and cyber security is key in efforts to prevent and detect financial crime. 
International organization such as the United Nations (UN), Organization for Economic Cooperation and Development (OECD), Financial Action Group (FATF), and Interpol has an important role in promoting international cooperation and developing global standards in preventing financial crime. They provide guidance, conduct evaluations, and provide a platform for exchange of information between countries.
By understanding the complexity and global dimensions of financial crime, the community international organizations can work together to develop more effective strategies in prevention, detection and treatment. This requires cooperation close border crossing, use of sophisticated technology, and law enforcement strong at the global level.
Financial crime is often not limited by national borders. The perpetrators can easily exploiting vulnerabilities in the global financial system to commit crimes in various countries. This complicates law enforcement because it requires close cooperation between countries in research, evidence collection, and prosecution. The transnationalism of financial crime also presents challenges in the harmonization of laws and regulations between countries.
In many countries, corruption is an important factor that facilitates financial crime. Use of public office to obtain personal gain, abuse public funds, and manipulation in the licensing process are examples of such actions corruption that affects global economic and financial stability. The causes can vary, starting from lack of transparency, weakness supervision system, to a lack of leadership accountability.
The global financial sector, especially international banks, is often the focal point for laundering criminal proceeds. AML (Anti-Money Laundering) and KYC (Know Your Customer) have been introduced to strengthen prevention. However, criminals continue to try exploiting loopholes in the system to launder criminal proceeds.
From accounting point of view, financial crime includes various acts that violate accounting principles and ethical financial management standards. For example including manipulation of financial reports to cover up illegal activities, embezzlement company assets, or the use of questionable accounting practices to improving the company’s financial performance dishonestly. The importance of perspective accounting is to ensure that the financial information presented by an entity is trustworthy, relevant, and transparent. This involves development strong internal control system, careful auditing and financial reporting accurate.
In a legal context, financial crime is a violation of regulations and laws governing financial and business activities. It covers a wide range illegal acts such as fraud, corruption, money laundering, insider trading, violations of intellectual property rights, and violations of market regulations finance. The legal system must be able to enforce rules and provide sanctions appropriate measures against perpetrators of financial crimes to prevent similar acts in future. Additionally, it is important to keep laws and regulations up to date to remain relevant to economic and technological develpoments.
From a sociological point of view, financial crime is understood as a product of factors social, economic and political in society. This can include inequality economy, social pressure to achieve financial success, a culture of corruption internalized, and lack of access to justice. The people who experience it high economic inequality or have a culture that is tolerant of unethical behavior tends to have higher rates of financial crime. Therefore, a sociological approach in preventing financial crime involves efforts to address the social and economic root causes of such behavior through education, community empowerment, and broader policy changes. 

Conference Objectives

1) Creating a forum to share knowledge, experience and the latest innovations in a accounting, law, and sociology.

2) Encourage cross-disciplinary collaboration to overcome challenges complex in business practices, legal regulations, and social dynamics.

3) Building a strong professional network between academics, practitioners, and others stakeholders in these three areas.