The shadow economy in global trade, which falls outside the official supervision of state administrative authorities, does not only involve activities such as undeclared work, but is usually linked to organised crime, including the illegal trade in goods, money laundering and terrorism.

This poses a serious threat to the stability of the global economic system. In particular, infringements of intellectual property rights through the production and distribution of counterfeit goods undermine the foundations of trust in international trade. It is frequently also an important source of financing for organised criminal groups, which build their structures, reinvest their profits and avoid detection by state authorities in the shadow economy. Understanding the links between this informal economy and legitimate business operations is becoming crucial not only for law enforcement authorities, but also for regulators, corporations and international organisations concerned with compliance.

The Shadow Economy conference, organised by ACAMS Poland Chapter, to be held on 6 May in Warsaw will focus on presenting the theory of the shadow economy, including its links to intellectual property crimes and its geopolitical implications. An introduction to this topic, which is still not fully understood, will be given by Todd Clements, Vice President at Citi, member of the Centre on Shadow Economics and expert at the European Union Intellectual Property Office. DZP's Compliance Manager and ACAMS Poland Chapter co-chair Aneta Szmidt will participate in a panel discussion to which the organisers have invited sector representatives.

In addition to our Law Firm, other partners of the event will be MoneyGram, ING and Łazarski University, which will host the conference participants at its premises.

The event will be held in English. More information will be available soon on the organiser’s website.