Search Results for: International law
10 results out of 10438 results found for 'International law'.

INDIAN CAPITAL EXPANDS INTERNATIONAL AIRPORT AS AIR TRAFFIC GROWS FAST
Situated at five-kilometre road distance from the main international Terminal 3, it will have 22 air bridges and 82 aircraft stands spread over 629,285 sqm with the building itself covering 192,985 sqm. This is part of a wider IGAI airport expansion project costing USD1.3 billion, which includes a new 4.4 km long fourth runway, 2.2 km long dual aircraft elevated taxiway and additional vehicular traffic lanes at arrival and departure forecourts.…
NEPAL GOVERNMENT OFFICIALS HOPE AML/CFT REFORMS OF PAST DECADE WILL PROMPT POSITIVE APG REPORT IN UPCOMIGN REVIEW
ANTI-money laundering authorities in Nepal hope an upcoming 2020-21 review by the Asia/Pacific Group on Money Laundering (APG) will conclude this Himalayan state is at least largely compliant with all FATF recommendations and special recommendations, although experts admit the review will be tough.…
INNOVATION INVESTMENT IN INDONESIAN VISCOSE STAPLE FIBRE GENERATES INTERNATIONAL QUALITY CERTIFICATION
ASIA Pacific Rayon (APR) has broken ground in the Indonesian viscose manufacturing sector by receiving the internationally recognised STeP sustainable textile and leather production certification from the Switzerland-based standards body OEKO–TEX. APR, a vertically integrated viscose-rayon manufacturer, with a production capacity of 240,000 tonnes-a-year, is hoping to boost sales through the STeP recognition of its modular analysis of chemicals, environmental performance, environmental management, occupational health and safety, social responsibility and quality management.…
TRADE DATA ANALYSIS INDICATES WIDE SCOPE FOR TRADE-BASED MONEY LAUNDERING MAY INVOLVE THE SHIFT OF BILLIONS OF DOLLARS IN VALUE
GIVEN the hundreds of billions of dollars spent by banks on fighting money laundering, fears that trade-based money laundering (TBML) remains widespread, as stressed by FATF, the APG (http://www.fatf-gafi.org/publications/methodsandtrends/documents/trade-basedmoneylaunderingtypologies.html), and most recently, the European Commission (https://ec.europa.eu/info/sites/info/files/supranational_risk_assessment_of_the_money_laundering_and_terrorist_financing_risks_affecting_the_union_-_annex.pdf), are of serous concern. The World Trade Organisation (WTO) said that in 2018, global merchandise exports were worth USD19.48 trillion, so there is plenty of place for laundered money to hide.…
SERBIA'S MAKES INCONSISTENT PROGRESS IN ANTI-MONEY LAUNDERING AFTER COMING OFF FATF'S GREY LIST
DURING the Yugoslav wars and their aftermath, the government of Serbia President Slobodan Milošević, and his family, were accused of laundering millions of dollars from Serbia, notably to Cyprus – see https://www.tax-news.com/news/Cyprus_Traces_Two_Accounts_Linked_To_Milosevics_Alleged_Money_Laundering_Activities____3063.html. Today, 20 years after the fall from power of the man held responsible for whipping up the nationalism that broke up Yugoslavia, Serbia’s AML/CFT affairs are more prosaic.…
TOP 10 MONEY LAUNDERING CASES
- 1MDB SCANDAL IN MALAYSIA SEES USD BILLIONS STOLEN AND HIDDEN
Malaysia 1MDB scandal is one of the largest money laundering cases ever, worldwide, with Malaysian courts considering charges over how at least USD4.5 billion was stolen and then spent or laundered from Malaysian sovereign wealth fund 1Malaysia Development Berhad by former Prime Minister Najib Razak and his associates.…
NEPAL GOVERNMENT OFFICIALS HOPE AML/CFT REFORMS OF PAST DECADE WILL PROMPT POSITIVE APG REPORT IN UPCOMIGN REVIEW
ANTI-money laundering authorities in Nepal hope an upcoming 2020-21 review by the Asia/Pacific Group on Money Laundering (APG) will conclude this Himalayan state is at least largely compliant with all FATF recommendations and special recommendations, although experts admit the review will be tough.…
LEBANON’S POLTICAL UNREST HAS BEEN PROMOTING MAJOR MONEY LAUNDERING
The large-scale civil protests that erupted across Lebanon in October 2019, and which continue today, have promoted large scale money laundering thought concerted and often successful attempts to avoid capital controls imposed by Lebanese banks to head off failure. Billions of dollars have flown out of the country, the Banque du Liban, the central bank, has warned, while Lebanese consumers have frantically withdrawn deposits as the Lebanese Pound LBP) has devalued against the US dollar – in October it was officially pegged to the US dollar at LBP1,507 and began to trade above that rate after the protests began, reaching LBP2,700 to the USD in March 2020.…
AML/CFT HIGHER LEARNING AND TRAINING STILL DEVELOPING AND MERGING - INTERNATIONALLY ACCEPTED MODELS YET TO COALESCE
ANTI-money laundering maybe a career that financial and legal professionals increasingly follow, but the training and qualification structure for AML/CFT is still emerging and solidifying, and there are doubts whether it will ever coalesce into a formal global structure, akin to FATF recommendations.…
INDIAN COVID-19 LOCKDOWN HURTS MANUFACTURERS – BUT INTERNATIONAL BUYERS HAVE ALREADY DUMPED ORDERS, SAY FACTORY OWNERS
THE LOCKDOWN of three weeks ordered by the Indian government from Wednesday (March 25) to contain the spread of the coronavirus that causes Covid-19 has had a limited impact on apparel exporting units, say many Indian manufacturers, who have said production was already largely halted by a wave of cancellations in orders.…