Leading detective to join fraud conference

April 21 2019
Paul Sheridan, Irish Independent

A leading New York detective is coming to Dublin to take part in a fraud conference next month.

Dermot Shea, Chief of Detectives with the NYPD, will speak at the International Fraud Prevention Conference at the RDS on May 17.

Chief Shea, whose parents are Irish, is in charge of the NYPD's 6,000-strong Detective Bureau which investigates all major crimes in the city, including Wall Street investigations. His officers are also in charge of the sexual assault investigation into former movie producer Harvey Weinstein.

Conference organiser James Treacy said: "Dermot Shea is one of the most high-profile police officers on the globe. He will give his insights into investigating money laundering, corruption and fraud."

The conference, being opened by Justice Minister Charlie Flanagan, will focus on money laundering, insurance fraud and cyber crime.

oChief Shea will be joined by a list of expert speakers including former High Court President Nicholas Kearns, Barry Galvin, founder of the CAB, and international money laundering expert Deirdre Carwood, of Deloitte.

Interpol estimates the value of fraud for the year up to May 2018 was €3.7 trillion. Globally, the banks are losing $100bn a year as a result of fraud and fines for not adhering to anti-fraud and money laundering legislation.

Separately, $2 trillion is laundered each year by terrorist and criminal organisations with the estimate that just 1pc of this is intercepted by law enforcement.

So-called Romance fraud, where people using dating sites are hacked is, according to a recent CNN report, costing at least $143m a year.

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