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A strengthening domestic cheese market is expanding capacity for Czechia dairy manufacturers, who may use this additional production to boost export sales. Czechia may be a small European country but it is a significant cheese exporter, with more than half its cheese production sold abroad, according to Jiří Kopáček, of the Czech-Moravian Dairy Association (ČMSM).…

Romania uncovered EUR419 million’s worth of fraud associated with European Union (EU) spending programmes in 2023, detailed reports issued by the European Commission have revealed. The major spike in swindles, far above levels reported by other EU member states, were inflated especially by two sets of swindles associated with the EU Cohesion Fund, the bloc’s main regional development scheme, each accounting for around EUR168 million (2).…

European Union (EU) member states have been adapting to the new legal guidance on access to their national registers of ultimate beneficial owners (UBOs) following the November 2022 ruling (1) at the European Court of Justice (ECJ) and a new EU directive published June 19 (2024).…

While beer consumption in Slovakia is not as high as neighbouring Czechia (which has the world’s highest per-capita beer drinking), it is still the 13th highest worldwide at 79.9 litres per person annually (2022 figures) (1).

So, it is no surprise that Crown Holdings, one of the world’s largest producers of metal packaging, continues to invest in its beverage can plant in Kechnec, eastern Slovakia.…

The European Union (EU) Council of Ministers has given its final approval to an EU directive insisting that EU member states criminalise and impose dissuasive punishments on the deliberate evasion of sanctions (1).

This law has been drafted amidst rising concern that Russia and Russians are effectively bypassing the slew of sanctions ordered following their country’s ongoing full-scale invasion of Ukraine (2).…

Accountants and their clients within the European Union (EU) have had to avoid trading with an increasing number of sanctioned individuals and companies, especially in Russia, following its invasion of Ukraine. Now, with sanctions evasion being criminalised across the EU under a new proposed law, the risk of exposure to sanctions for EU companies and their accountants and auditors has risen further – both when dealing with actors subverting these measures and when undermining sanctions themselves, of course.…

The effectiveness of cross-border collaboration between national and international law enforcement agencies has been demonstrated by recent raids and arrests in the European Union (EU). The European Public Prosecutor’s Office (EPPO) in February (2024) and Swedish police worked with EU judicial agency Eurojust in February (2024) to breach a large-scale cross-border carousel VAT fraud.…

The USA’s Securities & Exchange Commission (SEC) has released its long-awaited rule on enhancing and standardising climate-related disclosures by companies listed in the USA and those undergoing public offerings. The rule largely follows single materiality principles of measuring the impact of climate change on reporters, with filers having to report climate-related risks reasonably likely to have a material impact on business strategy, model, operations and finances.…

The doomsayers who in 2022 predicted the collapse of cryptocurrency as a major payment instrument have been proved wrong, meaning that AML regulators and obliged entities will need to focus hard to fight the abuse of these digital payment systems by criminals.…

The food industry is one of the most important and fastest growing branches of the Polish economy. With 60% of its land arable, Poland is the sixth largest agri-producer in the European Union (EU), according to the US Department of Agriculture (USDA).…