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Search Results for: Estonian

10 results out of 90 results found for 'Estonian'.

ESTONIAN PLASTICS SECTOR INNOVATES AS IT TARGETS OVERSEAS MARKETS



Estonia, long known for developing its high-tech sector, innovation, and environment-friendly businesses, has seen its plastics sector gaining momentum. It has been expanding export sales, not only to neighbouring Nordic and Baltic countries, but as far east as China.

As regards volumes, regarding primary resins and plastics, 11,807.7 tonnes were produced by Estonian manufacturers this January-August (2019), an increase of 132.8% for the same period in the previous year.…

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COMPANIES SHOULD CAREFULLY AND CONTINUOUSLY ASSESS OFFSHORE TAX POLICIES TO PROTECT REPUTATIONS – SAY EXPERTS



COMPANIES using offshore tax jurisdictions need to assess whether their strategies can be branded unethical, as well as illegal, causing them reputational as well as financial damage. They need to assess whether the risk is worth taking. Poorna Rodrigo reports.

 

The series of data dumps, such as the Panama Papers, and the recent Mauritius Leaks have continued to tarnish the reputation of offshore tax havens, but experts stress that properly used, a positive case can be made for offshore tax policies.…

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NEW EU ENERGY COMMISSIONER WILL SEEK TO SWAP PETRO-DOLLARS FOR PETRO-EUROS



THE INCOMING new European Union (EU) energy Commissioner has pledged to increase the role of the Euro in energy markets, instead of the US dollar. Former Estonian minister for economic affairs and infrastructure Kadri Simson, then responsible her country’s energy policy, is expected to assume her new EU role on November 1, when a new European Commission takes office.…

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CHINA’S FINANCE MINISTRY PLOTS LAW PUNISHING LAW BREAKING ACCOUNTANTS



CHINA’S ministry of finance drafted regulations punishing accountants violating national accounting laws. Proposals under public consultation would include blacklisting accountants found guilty of fabricating, hiding or destroying financial reports, books and documents, or telling other accountants to undertake such malpractice. Accountants involved in embezzlement would suffer the same fate.…

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BANKS HAVE TO WORK HARDER TO AVOID SANCTIONS BREACH PUNISHMENTS



BANKS worldwide are having to take increasing care lest they be fined for violating sanctions and not having adequate regulatory compliance regimes in place. With the USA expanding sanctions against Venezuela and Iran, financial institutions need to not only have adequate screening software but anticipate potential new regulations and that regulators will be pouring over past activities.…

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BALTIC STATES AML/CFT OVERHAULS UNDER WAY AFTER BANKING SCANDALS DAMAGE FINANCIAL SECTORS’ REPUTATION



THE BALTIC States, being European Union (EU) member states adjacent to Russia and Belarus have been exploited by Russian criminals as a gateway for their illicit funds into the EU and beyond.

This is despite that as EU member states, Estonia, Latvia and Lithuania must implement EU anti-money laundering and anti-terror finance legislation.…

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DEUTSCHE BANK MISSES CHANCE TO REGAIN PUBLIC TRUST, SAY MEPS



DEUTSCHE Bank’s AMLO has told a European Parliament hearing – to the dismay of MEPs – that the German major had no evidence that it was involved in misconduct surrounding the Danske Bank Estonia money laundering scandal.

Stephan Wilken, head of anti-financial crime and Deutsche Bank’s group anti-money laundering officer, told the EP’s special committee on financial crimes, tax evasion and tax avoidance (TAX3) on Tuesday (Feb 4): “We have not identified any misconduct” in Danske case.…

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DEUTSCHE BANK MISSES CHANCE TO REGAIN PUBLIC TRUST, SAY MEPS



DEUTSCHE Bank’s AMLO has told a European Parliament hearing – to the dismay of MEPs – that the German major had no evidence that it was involved in misconduct surrounding the Danske Bank Estonia money laundering scandal.

Stephan Wilken, head of anti-financial crime and Deutsche Bank’s group anti-money laundering officer, told the EP’s special committee on financial crimes, tax evasion and tax avoidance (TAX3) on Tuesday (Feb 4): “We have not identified any misconduct” in Danske case.…

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IRELAND’S ANTI-MONEY LAUNDERING LAWS AND THEIR IMPLEMENTATION IN SPOTLIGHT OVER RUSSIAN MONEY



It may not have been widely noticed internationally, but Dublin has become a key cog in the Russian economy’s financial system. That exposure – while profitable for the city’s accountants and lawyers – also risks becoming a liability due a lack of transparency over the source and use of funds.…

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RUSSIAN MONEY LAUNDERING CASES HIGHLIGHT URGENT NEED FOR ACTION, SAY EXPERTS



THE EUROPEAN Union (EU) must create a central agency to supervise banks and non-banking institutions to combat rising risks posed by money laundering, a European Parliament hearing that focuses especially on the threat posed by Russian dirty money, has been told.…

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