It is a pleasure to be here this morning to deliver the inaugural address at the National Conference on “Financial Frauds-Risk & Prevention.” 2. We all know that fraud, and more so, the financial frauds have been in existence for a very long time.
The financial crisis, which began in 2007 and escalated into a worldwide financial and macroeconomic crisis in the autumn of 2008, has in many ways been a game changer. Not least in terms of the way in which central banks operate. Old paradigms and truths have fallen, and new, in many cases untested, monetary-policy measures have been introduced.