Search Results for: Portugal

With the fall out from the Covid-19 pandemic set to prompt an increase in already staggeringly high levels of digital identity fraud, financial institutions and businesses should develop more sophisticated tools to tackle the issue, researchers have warned. The fact the disease has hit when open banking applications are proliferating means fraudsters have more portals to target “particularly through identity fraud” attacks, suggests a July (2020) report from financial platform Finextra in collaboration with software providers Feedzai, headquartered in Portugal (https://www.finextra.com/finextra-downloads/research/documents/148/how-to-prevent-payments-fraud-amid-global-disruption.pdf).…

A MAJOR expansion in collecting sales information within the digital economy across the European Union (EU) and beyond has been proposed by the European Commission, to crack down on widescale tax evasion.

The EU executive has proposed reforms to an EU directive on administrative cooperation between tax authorities (see https://ec.europa.eu/taxation_customs/sites/taxation/files/2020_tax_package_dac7_en.pdf)…

Forensic linguistics is a new field, aiding detection of lies and deception within verbal and written statements, but it is developing, and artificial intelligence/machine learning offers new opportunities for this technique to become increasingly useful.

That is the view of Professor Jack Grieve, Professorial Fellow in Corpus Linguistics, University of Birmingham, UK, who sees a “great opportunity” in such work, although significant research is needed before such studies can yield useful work.…

SLOWLY, but surely, the UK’s associated offshore financial centres are moving towards opening public beneficial ownership registers, probably by 2023. But much detailed work will be undertaken first, to ensure they work efficiently. Keith Nuthall reports.

The dominos are falling.…

Carbon emissions within the European Union were falling fast last year (2019) even before the Covid-19 crisis halted much of the EU economy and slashed CO2 releases, according to new figures from EU statistical agency Eurostat. It argues that tightening regulatory controls were the key reason for a 4.3% year-on-year EU-wide fall in CO2 emissions from fossil fuel combustion (including oil and oil products, coal, peat and natural gas).…

The European Commission has launched a series of infringement procedures for shortcomings in national legislation implementing the European Union’s (EU) fourth and fifth anti-money laundering directives (4AMLD and 5AMLD), including one against Britain, even though it left the bloc on January 31 (but remains subject to EU law during a transitional period to December 31. …

In a case that could open the floodgates to multimillion dollar cross border lawsuits against auto makers involved in Europe’s 2015 ‘Dieselgate’ scandal, a senior European Union (EU) judge has advised that car buyers should be able to sue Germany-based Volkswagen from a court in neighboring Austria.…

Only five European Union (EU) member states out of the current 27 have fully and properly complied with a requirement to set up public ultimate beneficial ownership (UBO) registers by January 10 (2020) under the fifth anti-money laundering directive (5AMLD), according to research by campaign group Global Witness.…

While new financial technologies and associated developments in machine learning and artificial intelligence offer AML/CFT solutions, anti-money laundering specialists are concerned about new risks being posed by new business and industrial innovations.

Banks are starting to adopt AI-based machine learning, but terrorists and criminals can use technology too: “It is really an AI arms race in financial crime”, said Kamer Yüksel, chief data scientist for Munich-based artificial intelligence start-up hawk:AI’s and author of more than 35 publications on AI.…

DIGITAL textile printers continue to seek for technological ways by which they can leverage the innate advantages their equipment has over conventional printing, and one is exploring the use of nanoparticles in finishing chemicals – delivering innovation that can sharpen the existing competitive advantage in design and sustainability enjoyed by digital printers.…