Archive
International News Services archives articles supplied to clients one year or more after initial publication. These articles are protected by a password and not made available to readers without permission from clients. They are used as a background resource by agency journalists. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.
WORLD’S GROWING NUMBER OF FREE TRADE ZONES ABUSED BY MONEY LAUNDERERS
With the world’s illicit economy making up between 7% and 15% of global GDP according to the International Coalition Against Illicit Economies (ICAIE) (1), a national security NGO based in Washington DC, the need for robust law enforcement, including AML controls is clear.…
HIGHER EDUCATION SHOULD EMBRACE NEW AI TECH, INNOVATION CONFERENCE TOLD
Higher education should embrace rather than shun artificial intelligence and related modern technologies, such as the increasingly ubiquitous AI apps ChatGPT and GPT-4, this year’s ASU+GSV Summit, staged in San Diego, heard yesterday. (Monday, April 17).
Assessing the fast-changing technological landscape and its impact on higher education, Dan Schwartz, dean of the Stanford Graduate School of Education, in the USA, commented: “We need to be able to navigate the future and future is changing.”…
ISSB PUSHES FOR ITS STANDARDS TO BE SUSTAINABILITY REPORTING GLOBAL BASELINE
Speaking at the event on Friday (Feb 17), Mark Carney, UN special envoy for climate action and finance, and former central bank governor for the UK and Canada, said of the baseline: “It’s critical. You need compatible information.”
Mr Carney stressed ongoing discussions between the ISSB and major jurisdictions, such as the EU (European Union), the USA and Japan, about the need for regulatory harmony.…
HUNGRY SUB-SAHARAN STUDENTS IN TUNISIA DENIED ACCESS TO MONEY BY BANKS AND POST OFFICES
Students from sub-Saharan African countries in Tunisia say that they are being discriminated against in the country’s banks and post offices, preventing them from receiving international money transfers to pay for essentials, including food.
They and executives of the Association for African Students and Stagiaires in Tunisia (AESAT – Association des Étudiants et Stagiaires Africains en Tunisie) told UWN that many banks and branches of La Poste Tunisienne are refusing to hand over the money sent by their parents and blocking them from opening personal bank accounts if they lack a full residency permit – a ‘carte de séjour définitif’.…
PROS AND CONS OF HAVING BLOCKCHAIN IN THE TEXTILE SUPPLY CHAIN
Can blockchain technologies help the textile industry resolve past transparency weaknesses in the supply chain, as well as inefficient inventory management, by facilitating fundamental changes to existing supply-chains and processes. Blockchain technologies’ decentralised storage of immutable records of physical asset transactions within digital ledgers, say some experts, can help transform the textile industry throughout the supply chain, from source (raw material point of origin) to shopfloor (brands and retailers).…
PUBLIC SPENDING ON AML GROWS, BUT IS IT SPENT WISELY?
The fact that AML/CFT is expensive is widely appreciated by governments and international organisations, but they still support policies and programmes that cost a considerable proportion of the USD274.1 billion that LexisNexis Risk Solutions says is lavished on financial crime compliance (1).…
JAVICE CHARGED OVER USD175 MILLION FRANK FAKE CLIENT FRAUD
Charlie Javice, the founder of shuttered New York-based student loan assistance company Frank, is facing both civil and criminal charges in parallel cases brought by the United States Securities & Exchange Commission (SEC) and Department of Justice (DoJ) over fake customer numbers.…
U.S. AUTOMAKERS COULD MISS OUT ON EU’S 2035 ZEV ONLY MARKET
US automakers finally have more certainty about the technical rules within the European Union (EU) designed to ensure its 27 member states only allow sales of zero emission vehicles (ZEV) from 2035, but – say American auto industry experts, Chinese competition could be strong.…
AUTOMATED LABELLING PRODUCTION TECHNOLOGY ESSENTIAL, SAY EU AND US EXPERTS
LABEL-MAKING automation is increasingly important to the global packaging industry. Indeed, the Wisconsin, USA-based global identification and compliance solution specialists Brady Corporation calls automated labelling a “must-have” – saying that the question is not if a company will automate its labelling process, but when (1).…
EUROPEAN PARLIAMENT WANTS 5% BO OWNERSHIP THRESHOLD IN NEW EU AML REGIME
Detailed negotiations over the final texts of the planned comprehensive reforms to the European Union (EU) AML/CFT regime are about to begin, with the European Parliament setting out what changes it wants flowing from this legislative package. That includes that football (soccer) clubs, agents and federations be subject to AML obligations; that additional checks for politically-exposed persons (PEPs) by extended to heads of regional and local authorities, and PEP siblings; that extended due diligence is always undertaken for high net worth individuals (their minimum wealth is not defined in the amendments); that the threshold for beneficial owner declarations be lowered to individuals holding 5% or more of voting equity; that BO rules should insist that the beneficial owners of real estate held by offshore corporates be disclosed; and cash transactions over EUR5,000 should be banned – up from the current EUR10,000.…