Georgian Ministry of Finance and British University of Portsmouth Join Forces to Fight Economic Crimes

The recent signing of a Memorandum of Understanding (MoU) between the Investigation Service of the Ministry of Finance of Georgia and the British University of Portsmouth marks the beginning of a promising collaboration. Vakhtang Paresishvili, the Deputy Head of Investigation Service, and Sarah Duckering, the Director of Research and Innovation Services of the University, came together to formalize this agreement.

During the signing ceremony, both parties emphasised the significance of sharing best practices in the research and investigation of economic and relevant crimes. The focus was placed on exploring future projects aimed at understanding the functioning, prevention, investigation and detention of such crimes. Moreover, discussions about the provision of distance and on-campus learning courses for the Investigation Service staff were held, signalling the commitment of both parties to strengthening the skills and knowledge of Georgia’s finance personnel. Additionally, plans to establish joint specialised research and education centres were addressed, signifying a commitment to long-term cooperation.

The Ministry of Finance underscored its commitment to advancing the qualifications of its investigators and staff by highlighting plans to work closely with the Centre for Cybercrime and Economic Crime at the University of Portsmouth. This would involve providing specific training courses and access to valuable expertise, while also focusing on enhancing research, teaching and innovation in these critical areas.

The signing of this MoU holds great promise for both the parties involved. By joining forces, the Georgian Ministry of Finance and the University of Portsmouth aim to fortify their fight against economic crimes and promote the development of a highly skilled workforce capable of tackling such challenges.

This collaboration sets the stage for mutual learning and growth, with the potential to yield impactful outcomes for both Georgia and the United Kingdom. As the parties gear up to embark on this collaborative journey, it is evident that the synergy between the two entities will undoubtedly lead to a positive and enduring impact on the field of financial crime detection and prevention.

The Ministry of Finance’s partnership with the University of Portsmouth is an encouraging step that is poised to strengthen Georgia’s position in combating financial malpractices, and add value to the global efforts aimed at ensuring economic stability and security.