Search Results for: Canada

FATF says FIUs must be a national centre for the receipt and analysis of suspicious transaction reports (STRs) and other information linked to ML, associated predicate offences and terrorist/proliferation financing, and disseminate that analysis. FIUs should be able to obtain additional information from obliged entities, and access relevant financial, administrative and law enforcement data.…

The USA-based National Institute of Standards and Technology (NIST) last November (2024) released a report saying it would formally advise against the use (‘deprecate’) of certain existing digital signature algorithms from 2030 – ECDSA, EdDSA and the RSA (1). It will do the same for certain key-establishment schemes – Finite Field DH and MQV; Elliptic Curve DH and MQC; and RSA.…

Financial institutions, social media platforms and regulators are meeting to boost data sharing and collaboration to counter the international surge in fraud. Paul Cochrane reports on the Global Anti-Scam Summit (GASS) Americas 2024.

Fraud is on an upward trajectory, with an estimated USD1.03 trillion lost globally to swindles over the past year, according to the 2024 Global State of Scams report by the Global Anti-Scam Alliance and anti-fraud tech company Feedzai (1).…

The Peruvian alpaca textile and clothing sector is trying to increase formal exports to the United States, despite some trading problems undermining its position. 
Peru’s minister of foreign trade and tourism, Úrsula Desilú León Chempén promoted these sales at garment fairs Sourcing at Magic New York and Coterie New York, in September (2024), stressing Peruvian fabric’s “wide range of materials that are of excellent quality, high durability, and sustainable”, promising to “continue strengthening” the industry (https://efecomunica.efe.com/en/peruvian-textile-companies-look-to-increase-exports-to-us-market/…

The international can making and filling industry is assessing the impact of a second Donald Trump presidency in the USA, given he has threatened to impose universal tariffs on all imports.

Trump has floated imposing 10%-20% tariffs on all US imports, including trades with countries having free trade agreements with America.…

The Canadian and Mexican auto sectors are assessing a second Donald Trump presidency in the USA, given his threat to impose universal tariffs on all imports and to review the US-Mexico-Canada Agreement (USMCA).

Trump has floated imposing 10%-20% tariffs on all US imports, including trades with countries having free trade agreements with America.…

While the increasingly complex financial world’s fintech and cryptocurrency networks may boost liquidity and financial efficiency, it also complicates screening transactions for crime links. That includes the growing number of sanctions created by Russia’s ongoing invasion of Ukraine and Iranian support for terror groups.…

The International Sustainability Standards Board (ISSB) is considering a report highlighting difficulties in implementing its first two standards, with board members to consider whether they need amending. The paper focuses especially on problems linked to IFRS S2 on climate-related disclosures, such as concluding paragraphs being “unclear and [that] appear contradictory” to requirements in IFRS S2 regarding disclosure of “scope 3 category 15 GHG emissions”, for example.…

While the reluctance of many companies to report fraud to law enforcement is well documented, it would be a useful deterrence if those cases that made it to court generated tough enough penalties to scare some scammers from scamming.

Alas, this is not often or even usually the case.…

Whether the billions of taxpayer dollars pledged for Canada EV supply chain by the Canadian, Ontario and Québec governments were value for money and should be maintained will be a key question in the country’ upcoming election cycle.

The federal Liberal government is teetering, with minority support within the Canadian parliament no longer buttressed by an agreement with the left-wing New Democratic Party (NDP).…