Search Results for: El Salvador

But even though the Lava Jato task force was officially disbanded in 2021, Pierpaolo Bottini, partner at São Paulo-based Bottini & Tamasauskas Advogados, and a former director of the Economic Criminal Law of the Brazilian Institute of Criminal Sciences, said this abuse of crypto has been highlighted in cases he is defending. …

The European Commission is now assessing a first set of detailed proposed European Union (EU) mandatory sustainability reporting standards, delivered – on time – by the European Financial Reporting Advisory Group (EFRAG) Sustainability Reporting Board (SRB). (1)  

Due diligence assessments and potential amendments will now be undertaken by the EU executive, before its formal adoption of these standards, planned for next June (2023).…

How to launder a sack of ill-gotten cash is a question that does not just stretch the imaginations of law enforcers and AML officers, it can and does prompt useful assessments by professionals in other fields.

The question of how to launder USD1 million in dirty money is, for instance, a popular thread on the international online Q&A service Quora, with 84 answers.…

While forecasts of a global recession are far from conclusive, the World Bank has in its latest international economy assessment released in September (2022) warned that such a downturn is a real possibility for 2023. (1) The reason is potential government spending tightening to deal with inflation rates not witnessed since the 1990s or earlier: “To stem risks from persistently high inflation, and in a context of limited fiscal space, many countries are withdrawing monetary and fiscal support,” noted the bank.…

The political and human rights crisis in Nicaragua is worrying the international textile industry, given the serious chance the United States suspend the privileged access to American markets that Nicaraguan clothing and textile exporters have thus far enjoyed.

Just two months before the upcoming Nicaraguan municipal elections (November 6), more than 195 human rights defenders, journalists, clergy members, and actual or perceived political opponents have been accused and detained for allegedly committing actions against national sovereignty.…

Honduras is strengthening its position as an outsourcing partner for the US clothing industry, with the central American country generating the second highest receipts from sales of textiles and finished garments under free trade agreements to the United States, just behind Mexico.…

The central American and Dominican Republic clothing and textile sectors are lobbying against the United States scrapping the China 301 tariffs on finished apparel imports following a possible entente with Beijing, saying that the duties are helping encourage investments in their countries.…

Bulk cash smuggling remains a favoured way for criminals to move dirty money, despite the increase in electronic means to transfer the proceeds of crime, such as new cryptocurrency services.

In its most recent 2020 National Drug Threat Assessment, the US Drug Enforcement Agency (DEA) said in 2019, there were more than 3,000 bulk currency seizures in the United States, with more than USD368 million taken, 62% up from the USD227 million seized in 2018 (although that followed eight years when the value of bulk cash seizures fell).…

RUSSIA’s invasion of Ukraine will damage European Union (EU)-Russia trade in clothing including knitwear, but Russia will continue to make woolen clothes, say experts. Meanwhile, the war launched by Russian President Vladimir Putin is devastating Ukraine’s knitwear production and retail sector.…

The invasion of Ukraine by Russia risks undermining AML/CFT, said FATF in its post-plenary communiqué issued in March. (1) But how this unprovoked military action will disrupt the policing and detection of dirty money remains to be seen, noted Carol Van Cleef, chair of the blockchain and digital assets practice, at Bradley Arant Boult Cummings, Washington DC.…