RUSI set to launch Centre for Financial Crime and Security Studies

The Royal United Services Institute (RUSI) has announced the creation of a new Centre for Financial Crime and Security Studies. The Centre will focus on the fields of financial crime, threat finance and financial intelligence.

Organised crime costs the United Kingdom no less than £24 billion per annum. Along with the impact of financial crime on the UK from both domestic and international sources, tackling threat finance is also a key security priority of the UK and international community (as illustrated by the efforts being undertaken to undermine the financial capabilities of ISIS).

In all of this work, partnership engagement between the public and private sectors can significantly enhance efforts in this field.

Commenting on the announcement, Professor Michael Clarke (RUSI’s director general) said: “The Centre is another example of RUSI being at the cutting edge of research on security issues. We add analytical value to policy studies. This new Centre will be a critical link between finance and Government and I welcome Tom Keatinge to the Institute. His experience will further strengthen our expertise on terrorism, organised crime and cyber security.”

Keatinge, who will head up the new Centre for Financial Crime and Security Studies, is a former managing director in the Financial Institutions Group and head of European public sector client coverage at JP Morgan.

Professor Michael Clarke: director general at RUSI

Understanding of criminal threats

Donald Toon, director of the Economic Crime Command at the National Crime Agency, said: “Strong academic research can add substantially to our understanding of criminal threats and help shape an effective response from law enforcement, regulators and the private sector alike. I very much welcome this initiative from RUSI which promises to provide a focal point for research into the problems around financial crime.”

John Cusack, global head of financial crime compliance at Standard Chartered, added: “I’m delighted that RUSI has decided to establish a new Centre for Financial Crime and Security Studies. The Centre is set to provide valuable contributions and be seen as a credible partner for all in the private or public sectors who wish to advance the debate and contribute to improving the effectiveness and efficiency around financial crime solving.”

Matthew Allen, director of financial crime at the British Bankers’ Association (BBA), commented: “A key part of identifying and stopping crime networks centres on understanding how they operate. This new Centre will provide the sort of vital insight that can help target responses and close in on the criminals. The BBA looks forward to working closely with RUSI on this initiative in order to help protect customers and ensure a safe financial system.”

Much-needed research focus

Based at RUSI, the Centre will comprise a dedicated team recruited from across finance, law enforcement and academia. The formal launch takes place at an event in the New Year.

The Centre will be based within the National Security and Resilience Studies Group at RUSI.

“The Centre will bring much-needed research focus and capacity to support the work of Her Majesty’s Government, other international Governmental partners and the private sector in addressing the challenges posed by financial crime and illicit finance in all of its forms,” explained Tom Keatinge.

*RUSI is an independent Think Tank for defence and security. A unique institution founded in 1831 by the Duke of Wellington, the organisation embodies nearly two centuries of forward-thinking, free discussion and careful reflection on defence and security matters

RUSI launches Strategic Hub for organised crime research in the UK and overseas

The Royal United Services Institute (RUSI) has announced the launch of a new Strategic Hub designed to explore and tackle serious and organised crime by way of high level research. The new hub will develop a world class research agenda that meets the needs of both policy makers and practitioners in the field.

The Strategic Hub for Organised Crime Research has been initiated in association with the Home Office, the National Crime Agency, the Foreign and Commonwealth Office and the Partnership for Crime, Conflict and Security within Research Councils UK.

The harmful impacts of organised crime in the UK are becoming more visible, from new areas such as cyber crime, trafficking in cultural objects and match fixing through to traditional activities like drug trafficking.

The cost of organised crime in the UK is estimated to be at least £24 billion, with a significant impact on communities, families and individuals. Further afield, organised crime undermines development assistance and contributes to instability.

In response, the Home Office has developed the Serious and Organised Crime Strategy and established the National Crime Agency. The strategy takes an holistic approach to organised crime, seeking to Pursue, Prevent, Protect and Prepare.

RUSI has launched a Strategic Hub for Organised Crime Research in association with the Home Office, the National Crime Agency, the Foreign and Commonwealth Office and the Partnership for Crime, Conflict and Security within Research Councils UK

Addressing gaps in understanding

Despite the Government’s renewed focus on combating organised crime, there are still gaps in the understanding of the scale and nature of organised crime in the UK and overseas, the effectiveness of strategies to disrupt it and pathways into and out of organised criminality. These gaps undermine attempts to address organised crime on a global basis.

The new Strategic Hub will fill this knowledge gap. Bringing together academic researchers and policy makers, the hub will create greater connectivity between policy concerns and rigorous enquiry.

Initially, the Strategic Hub will work with partners and the academic community to assess what strategies are effective at disrupting organised crime, what criminal markets look like and where the vulnerabilities lie in the system. The Hub also aims to develop new methodologies to examine these and related issues.

Priorities will be examined by policy makers, academics and researchers during a conference to be held at RUSI on 8 December 2014.