Search Results for: Venezuela
10 results out of 168 results found for 'Venezuela'.
GLENCORE TO PAY ALMOST USD1.2 BILLION TO SETTLE BROBERY AND MARKET MANIPULATION CHARGES
Switzerland-based multinational mining and energy group Glencore will pay almost USD1.2 billion in fines and penalties to the US, UK and Brazil for corrupt and dishonest trading, including bribing African officials and illicitly manipulating oil market prices.
With prosecutorial investigations continuing in the Netherlands and Switzerland, Glencore said yesterday (Tuesday 24/5) that it would set aside USD1.5 billion to settle all cases relating to this malpractice.…
FORMER UNDERCOVER DEA INVESTIGATOR SAYS CULTURE SHIFTS ARE NEEDED TO PROMOTE LONG-TERM PROBES ON ML PROS
A former DEA agent who laundered money undercover to attack the Medellín and Cali cartels has called for a root-and-branch reform of AML, so that its vast resources target the most suspicious transactions and the professional launderers who facilitate them. Speaking to MLB, Robert Mazur, who offered ML services to drug kingpins such as Pablo Escobar in the 1980s and 1990s to undermine their criminal networks, said that many laundering techniques used then are still in use today.…
FINANCIAL CRIME IS MAJOR RISK FOR TEXTILE AND CLOTHING SECTOR – GAINING INSIGHT CAN HEAD OFF MAJOR LOSSES
INTRODUCTION
Financial crime is a minefield for the international textile and clothing industry. With extended international supply chains extending into jurisdictions where the rule of law and a reliable independent judiciary may have a weak hold, if they exist at all, textile and clothing brands and manufacturers must take care.…
ANNUAL EU CRIME REPORTS SHOW EUROPEAN INSTITUTIONS STILL FAILING TO CRUSH ENDEMIC FRAUD
THE EUROPEAN Union (EU) continues to struggle to clamp down on fraud within its revenue collection and spending programmes – making progress, but with major scams still emerging within the EU’s complex international decision-making systems.
In its latest annual ‘fight against fraud’ report (1) (2), covering 2019, the European Commission reports that 939 discovered irregularities were reported as fraudulent (8% of the number), involving EUR461.4 million in lost money (28% of that affected by irregularities).…
DARK WEB BECOMES MORE ACCESSIBLE, BUT ITS CRIME RISKS TO MAJOR BUSINESS ARE NOT GOING AWAY
ACCESSING the dark web once demanded some computing expertise. But dark web search engines and browsers continue being developed, guiding potential users to this encrypted corner of the web where commercial criminals ply their wares and illicit businesses avoid taxes. How should legitimate companies react?…
UNMASKING THE DARK WEB – EASY TO ACCESS; TOUGH TO NEGOTIATE RISK; AND A HONEY PIT FOR FRAUD INVESTIGATORS
WANT to check the dark web for illicit services? Search engines accessible from the public web offer links to the dark web. One example is Finland-based Ahmia (https://ahmia.fi/), which yields interesting results from searches such as https://ahmia.fi/search/?q=hacking. A more recent variant that has attracted attention from the IT security press is Kilos – http://dnmugu4755642434.onion…
NICARAGUA BOOSTS T-SHIRT SALES TO THE EU, BUCKING A DECLINE IN OVERALL APPAREL EXPORTS
Nicaragua, a leading apparel producer in Central America, has been suffering a decline in revenue on exports to the European Union (EU) this year, expect for one category that is bucking the trend: T-shirts.
According to the EU statistical office Eurostat, total revenue from the country’s apparel and footwear exports to the region dropped 6.8% to EUR178.2 million in the first half of 2019 from EUR191.2 million in the same period in 2018.…
AROUND 56 MILLION PAID BRIBES FOR PUBLIC SERVICES IN LATIN AMERICA
More than one in five or around 56 million people who accessed public services in Latin America and the Caribbean last year paid a bribe, according to the latest 18-country survey from Transparency International. The police notched up the highest bribery rate (24%), followed by other public services such as utilities (19%). …
HIGH DEMAND FOR TRAINED AML PROFESSIONALS IS KEEPING PAY LEVELS HEALTHY
WITH anti-money laundering and combating the financing of terrorism (AML/CFT) controls becoming ever more comprehensive, strategic and widespread, the demand for trained AML/CFT professionals is growing. Salaries are increasing, as a result. This good compensation reflects the fact that AML work is becoming increasingly demanding because of regulatory requirements, said Michael Harris, director, financial crime compliance, at LexisNexis Risk Solutions.…
LATIN AMERICA’S PERSONAL CARE PRODUCT MARKETS REMAIN IN THE DOLDRUMS AS ECONOMIES PERFORM POORLY
IT has been another subdued year for the beauty and personal care product market in Latin America, as the region’s economy underperforms yet again after six years of deceleration (and in some countries outright recession), keeping a lid on sales growth. …