This event explores Singapore's experience of detecting and preventing crime-related risks in free-trade zones.
Free-trade zones (FTZs) make a vital contribution to the economic prosperity of many countries, but are fraught with risks of crime. Ensuring high governance standards and preventing crime in FTZs is therefore an essential – but often overlooked – subject.
Since April 2019, the Royal United Services Institute (RUSI), the UK’s oldest defence and security think tank, and Professor Henry Gao of Singapore Management University have been working on a project that explores best practices in preventing crime in FTZs, with a particular focus on Singapore, Morocco, Panama and the UAE.
The project has demonstrated that, despite global advances such as the publication of the OECD Code of Conduct for Clean FTZs, private-sector businesses often find it difficult to distinguish between compliant (clean) and non-compliant (risky) FTZs.
To remedy this gap, RUSI has developed a freely-available online risk assessment tool that helps banks, insurance companies, shipping lines and freight forwarders assess their exposure to the risk of facilitating crime as a result of operating in an FTZ.
This event features a presentation of the tool, as well as a discussion among experts on the challenges and best practices involved in assessing the risks of illicit trade and financial crime in FTZs.
Watch the recording
Chair: Associate Professor Henry Gao, SMU
- Anton Moiseienko, RUSI
- Jeremy Rabani, Philip Morris International
- Tony Kerr, K&L Gates Straits Law LLC
- Wong Chian Voen, K&L Gates Straits Law LLC
The development of RUSI’s risk assessment tool has been funded by PMI Impact, an anti-illicit trade funding initiative of Philip Morris International.