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USA FIU FinCEN is to designate transactions involving international convertible virtual currency mixing (CVC mixing) a source of ‘primary money laundering concern’. The move, the first time FinCEN has used its authority under Section 311 of the USA Patriot Act on combatting terrorism and money laundering to target a class of transactions in this way, follows the Hamas attack on Israel on October 7, believed to have been largely funded with crypto.…

Kenya is being opened as a potential outsourcing centre for European Union (EU) knitwear brands by a new EU-Kenya Economic Partnership agreement, now being considered for ratification by the EU Council of Ministers and the European Parliament (1). Once implemented, the deal will remove 12% and 9.6% EU duties charged on many knitted apparel exports from Kenya, potentially boosting a knitted apparel and accessory trade, growing in recent years.…

Risk specialists predict that the current instability in China’s trust sector and China’s slowing economic growth will lead to a massive outflow of capital from China, breaching Chinese money laundering laws. That will include both the export of legally earned money in excess of Chinese capital export caps of USD50,000 per year and illicit movements of criminal proceeds.…

Digital textile printing could grow in Argentina, but successive international and national crises are hindering the trust needed for the industry to invest in this critical technology, especially as the country heads to October presidential elections that may lead to major economic changes.…

The UK Serious Fraud Office (SFO) has shelved investigations into two major mining companies on the eve of a new director’s arrival. Current Assistant Commissioner of the Metropolitan Police Nick Ephgrave takes over at the end of September.

As the term of predecessor Lisa Osofsky expires, the agency (on Aug 23) an announced long running corruption investigations into the Anglo-Australian mining major Rio Tinto Group and Kazakhstan-focused mining Eurasian Natural Resources Corp (ENRC) were being scrapped.…

Time was that whistleblowing laws were a novelty. No longer – they are increasingly commonplace in developed economy jurisdictions and offer a widening range of protections.

Take the USA. A bipartisan bill was proposed in March (2023) by Republican Senator Chuck Grassley and Democratic Senator Elizabeth Warren to strengthen whistleblower protections at the US Securities and Exchange Commission (SEC).…

The European Commission has proposed new legislation offering more flexibility to food technologists creating new foods based on altering the genetic structure of plants. A new suggested EU regulation would create streamlined controls for plants created by ‘new genetic techniques’ or NGTs, that are less rigorous than the existing assessments and restrictions undertaken for genetically modified (GM) foodstuffs.…

The is optimism within the Irish dairy industry that the acute trading challenges caused by Brexit may have abated thanks to the Windsor Framework deal between the European Union (EU) and the UK that amended the Northern Ireland Protocol. Producers and traders hope that the changes will give some certainty to an Irish dairy processing industry that relies on seamless transit across the Northern Ireland-Republic of Ireland border and onto Great Britain.…

International AML/CFT rules and guidance have been designed to help governments crack down on criminals and terrorists, but there are few guiderails to prevent states from abusing these tools to target political opponents. Given the membership of FATF and FATF-style regional bodies, and the Egmont Group of FIUs is practically universal, that means AML/CFT systems are available to authoritarian states.…

Law professors, human rights lawyers and civil society groups have published a petition demanding the release of political prisoners in Tunisia, warning that such democratic regressions harm both the practice and teaching of law to the new generation of students.…