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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 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/…

Italian Bruna Szego is set to chair the European Union’s (EU) new Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) (1) following a vote by two key European Parliament committees. The vote to back the only woman on the three-person shortlist to head the new Frankfurt-based AMLA, followed a three-hour closed-door hearing in Strasbourg, France with the committees on economic and monetary affairs (ECON) and civil liberties, justice and home affairs (LIBE).…

India’s struggling biofuel industry may finally be picking up as the country’s oil refining major, Reliance Industries Ltd, announcing an Indian Rupees INR650 billion (USD7.72 billion) investment plan to set up 500 compressed biogas (CBG) plants over the next three years in the southern state of Andhra Pradesh.…

The Dutch higher education community has condemned massive cuts to the sector’s budget and caps on international student numbers, after the country’s ruling politicians rejected calls to rethink its controversial structural reforms.

On 27 November (2024), in a vote in the Dutch House of Representatives (Tweede Kamer), the Netherlands’ right wing four-party coalition led by Independent Prime Minister Dick Schoof supported a proposal spearheaded by Dutch Minister of Education, Culture and Science, Eppo Bruins of the New Social Contract party, to cut education funding by approximately EUR2 billion – half of which is earmarked for higher education – despite growing pressure from opposition parties who are threatening to block the plans in the Dutch Senate (Eerste Kamer) (https://www.dutchnews.nl/2024/11/coalition-stands-firm-over-e2bn-education-cuts-despite-warnings/…

The Basel Institute on Governance has welcomed a gradual improvement in AML/CFT technical compliance with FATF recommendations but has warned governments’ progress in improving effectiveness remains sluggish.

Its 13th edition of the Basel AML Index assessed164 countries, with Myanmar, Haiti and the Democratic Republic of the Congo (DRC) receiving the highest AML/CFT risk scores, with San Marino, Iceland and Finland the lowest (1).…

The European auto sector is uneasy about the 35.3% countervailing duties that the European Union (EU) has imposed on China-built BEVs on top of the standard 10% import tariff. While they were imposed in response to what the EU executive, the European Commission, claims are unfair state subsidies throughout Chinese supply chains that undercut the bloc’s own European Automobile Manufacturers’ Association (ACEA) has declined to comment.…

Promoting collaboration between the European Union’s (EU) anti-fraud office OLAF and the European Public Prosecutor’s Office (EPPO) will be a key priority of the new EU budget, anti-fraud and public administration Commissioner once he takes office, probably on December 1.

Poland’s Piotr Serafin, a former cabinet head for past European Council president and now Polish Prime Minister Donald Tusk, performed effectively at his European Parliament confirmation hearing on November 7, and should be confirmed as Commissioner.…

Jordan’s textile and leather industries have made impressive strides over the past six months, driven by a robust increase in exports and greater investment in raw materials, despite ongoing conflicts in neighbouring Lebanon and Israel.

Indeed, Jordan’s combined textile and leather industry achieved remarkable year-on-year growth of 11.8% in the second quarter of 2024, said Ihab Qadri, representative of the leather and textile industry at the Jordan Chamber of Industry (JCI).…