In the shadowy world of international crime, an unlikely hero has emerged: data. Jonny Bell, Senior Director at LexisNexis Risk Solutions, recently shed light on this surprising alliance in the fight against global trafficking on the globally acclaimed “Talking Success” podcast.
The Hidden Link: Wildlife Trafficking and Financial Crime
“Most people are gobsmacked when they hear about our work in wildlife trafficking,” Bell reveals, his voice tinged with passion. It’s not the typical arena for a company known for financial risk solutions, but as Bell explains, the connection is more profound than one might think.
Wildlife trafficking, it turns out, is not just an environmental issue—it’s a financial crime. Pangolins, elephants, and big cats are not just victims of poaching; they’re commodities in a dark economy that spans continents. And where there’s money, there’s a trail.
“Financial institutions could unknowingly be facilitating these crimes,” Bell warns. It’s a sobering thought that your bank could inadvertently be supporting the trade of ivory or exotic pets. But there’s hope. LexisNexis’s data solutions are turning the tables, flagging suspicious entities and helping to dismantle these illicit networks.
From Wildlife to Human Lives: The Broader Impact
As our conversation deepens, the true scope of LexisNexis’s work unfolds. Human trafficking, a heart-wrenching reality of our modern world, is another battleground where data is making a difference.
“Our goal is to make people trafficking a historical issue,” Bell states firmly. It’s an ambitious target, but one that’s being tackled through an innovative convergence of anti-fraud and anti-money laundering efforts.
The AI Revolution in Compliance
In a world where criminals are constantly evolving their tactics, staying ahead requires more than just human vigilance. Enter Artificial Intelligence (AI).
“A few years ago, compliance departments were hesitant about AI,” Bell recalls. “Now, there’s a top-down push to integrate these technologies.” This shift is not just about keeping up with criminals—it’s about efficiency. With over half of compliance budgets spent on people, AI offers a way to streamline processes without compromising effectiveness.
But don’t expect robots to take over completely. “Exceptionally difficult decisions still require human intervention,” Bell assures. It’s a delicate balance of machine efficiency and human expertise.
The Future of Financial Crime Fighting
As our conversation draws to a close, one thing is clear: the fight against financial crime is evolving rapidly. From wildlife trafficking to human exploitation, from traditional banking to AI-driven compliance, the landscape is shifting beneath our feet.
For those intrigued by this glimpse into the future of financial crime prevention, the full conversation with Jonny Bell on the “Talking Success” podcast promises even more revelations. It’s a deep dive into a world where data doesn’t just crunch numbers—it saves lives, both human and animal.
In an era where the news often feels bleak, Bell’s insights offer a ray of hope. It’s a story of innovation, collaboration, and the unexpected ways technology is making our world a little safer, one data point at a time.
Decoding Financial Crime: A Call to Action
Want to dive deeper into the world of financial crime prevention? Here’s your chance to engage with industry leaders and cutting-edge solutions firsthand.
Mark your calendars for the Decoding Financial Crime event taking place in Cape Town on August 29-30. LexisNexis Risk Solutions, at the forefront of this fight, will be there as Gold Sponsors, ready to share their insights and showcase their innovative approaches to combating financial crime.
This is more than just a conference—it’s an opportunity to be part of the solution. Whether you’re a financial professional, a tech enthusiast, or simply someone who cares about making the world a safer place, this event is not to be missed.
Don’t just read about the future of financial crime prevention—experience it. Join us in Cape Town, where you’ll have the chance to meet Jonny Bell and the LexisNexis team, explore cutting-edge technologies, and network with fellow professionals who are passionate about this critical field.
Register now for Decoding Financial Crime and take your first step towards being part of this crucial fight. Together, we can turn the tide against financial crime, protect vulnerable species, and safeguard human lives.
The future of financial crime prevention is here. Will you be part of it?