Search Results for: Caribbean

The doomsayers who in 2022 predicted the collapse of cryptocurrency as a major payment instrument have been proved wrong, meaning that AML regulators and obliged entities will need to focus hard to fight the abuse of these digital payment systems by criminals.…

The seizure of criminal proceeds has been a policy priority of the current Singaporean presidency of FATF (the Financial Action Task Force) (1). But while it and jurisdictions such as the European Union (EU) are developing reforms to boost asset recovery, more change is needed for this tactic to become a truly effective weapon against organised crime.…

AML experts are increasingly concerned that jurisdictions worldwide are still failing to act against key enablers of money laundering, such as lawyers, trust and company service providers (TCSPs), accountants, estate agents, casinos and luxury goods traders, who ask no questions or ignore money laundering (ML).…

Practical programmes and strategies that enable universities and colleges to drive forward sustainable practices and knowledge to fight and manage climate change are increasingly needed, a UNESCO-sponsored workshop heard this week in Dubai.

Staged on Wednesday (December 6) as the United Arab Emirates hosts the COP28 conference of the United Nations Framework Convention on Climate Change (UNFCCC) this month, HE experts stressed such work needs to extend to less economically developed countries.…

Brazil generated 92.8% of its electricity from low or zero carbon sources during the first nine months of 2023, producing more clean power by proportion of overall output among all G20 countries in 2022, with a share of 89.1%, according to data released by London, UK-based global energy thinktank Ember (1).…

As US brands look for new ways to communicate quality and integrate sustainability into their business, their attention is increasingly shifting to digitally printed fabric signage. Part of this growth is fuelled by iconic global brands such as Apple (1) and Nike (2) opting for digitally printed backlit soft signage.…

The Cayman Islands is on the cusp of being removed from the FATF (Financial Action Task Force) grey list, where it has languished since January 2021, after it completed 63 reforms required by the global AML body. A final inspection by FATF officials was staged this month (September) (1), with the British overseas territory looking to be removed by the next FATF plenary in October (2023).…

St Kitts & Nevis, the western hemisphere’s smallest sovereign state (by population), has significant work ahead to meet international AML/CFT standards, despite significant reforms being passed in 2020 and 2021. The twin-island state, with just over 47,000 people, is, noted a Caribbean Financial Action Task Force (CFATF) mutual evaluation report issued January 2022, a “small international financial centre which consists of commercial banking, international banking, domestic insurance, international insurance, securities, money service businesses and credit unions”.…

Antigua & Barbuda has been making steady progress building its AML/CFT system, although mutual evaluation reports and third-party assessments suggest the twin island nation needs to continue forging fresh protections. It has, however, not released conviction and prosecution data since 2016 – making its AML/CFT effectiveness tough to assess.…

The Turks & Caicos Islands (TCI) has been improving its AML record, even as its courts have taken eight years to hear financial crime cases against former political leaders, including past Premier Michael Misick. He is charged with money laundering, conspiracy to receive bribes, and conspiracy to defraud the government, related to his 2006-9 tenure.…