This conference highlighted the important role that financial institutions have in prosecuting money laundering crimes. Money laundering takes place through the financial system. Therefore financial institutions are best placed to quickly detect money laundering crimes as and when they are happening.
Recently there has been considerable expansion in global liquidity but this should not dilute the vigil of policy makers in regard to volatility in capital flows. Very often, it is difficult to assess, ex ante, whether capital flows are temporary or permanent. It is prudent for policy makers to assume that they are reversible till they are proven to be enduring.