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 International Cocoa Organisation (ICCO) has predicted that the chocolate industry will continue to face cocoa supply deficits, with its latest quarterly assessment predicting that for 2022/3, there will be 99,000 tonnes more grindings than cocoa production. As a result, global stocks will fall to 1.744 million tonnes, amidst declines in output from key production hubs Ghana and Côte d’Ivoire.…

The European Union (EU) knitwear sector is preparing to follow new detailed ‘best available techniques’ (BAT) on reducing industrial emissions as the EU considers revised legislation that might tell national regulators to take a hard line on their implementation. The European Commission has proposed a new EU industrial emissions directive that – as drafted – would tell industrial regulators to set limits on BAT-associated emissions levels “at the strictest achievable level for the specific installation” (1).…

As Pope Francis continues his moves to reform the financial controls of the Vatican City State and The Holy See (VCS/HS), including its AML/CFT systems, the uneven progress within this tiny state with a global reach to fighting corruption and money laundering is illustrated by an ongoing major financial crime trial.…

The European Union (EU) is edging towards a digital Euro, one of several jurisdictions worldwide developing a central bank digital currency (CBDC), but what anti-money laundering controls would need to be built into the system and how can this be balanced with data protection and privacy considerations?…

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.…