M. Khoo: A collective effort is needed to handle cyber threats
15:29 - 20 October 2023
Michael Khoo, Co-Director, Task Force KleptoCapture, US Department of Justice presented the Justice Department’s role in combatting corruption and stamping down on cyberattacks during the 9th International Compliance Forum.
Addressing the Limassol event, presented by the Bank of Cyprus, Khoo said that the current landscape was complex, which made it even more important to collectively address threats.
He noted that economic stability requires dynamic businesses, compliance, and common rules. Calling on all stakeholders to consider the common good, Khoo reiterated that the US Department of Justice remains committed to the goal of fighting corruption.
This was followed by the position that the current geopolitical field is also complex and that economic measures were being strengthened to make them more effective.
Khoo referred to the Russian invasion and Organisations that continue to support Moscow. He a;sp referred to the cooperation between the Cypriot judiciary and the American authorities for the arrest of a hacker linked to Russia, and who remains in custody, saying this was an example of cooperation between states.
Khoo went on to say that everyone must maintain the commitment to implement compliance rules, saying that while organisations were called to difficult decisions, leaders could help their clients and customers find the right solutions. Towards this end, developing the right culture within the company was important, Khoo added.
The International Compliance Forum is one of the biggest conferences of IMH, and every year it tackles the most important developments around regulatory compliance issues that concern professionals in the field as well as the largest local and international companies. This year’s edition is taking place on 20 October at the Filoxenia Conference Centre in Nicosia.