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AMERICA has long been the global policeman of international sanctions, including breaches of AML rules, but evidence suggests that the US dollar’s use in international transactions could be weakening and is having to compete with the rising power of crypto currencies.…

President Joe Biden may think he has three main foreign policy priorities this year – China, Russia and Iran – but the truth is, as far as the Middle East is concerned, all these challenges roll into one.

That is because both China and Russia are seeking increased influence in the Middle East, and hoping for potential missteps from the USA over the Iran file to leverage their diplomatic positions.…

COVID-19 has been a challenge for many industries and the tobacco sector has been no exception, with the disease disrupting consumption and purchasing patterns that underpin profitability and turnover.

Countries where smoking is associated with socialising have been particularly vulnerable and a good example is Bangladesh, where the disease has depressed consumption, temporarily.…

With the United Nations security council backing the reappointment of António Guterres as UN secretary general for another five years, it is time to ask whether the global body’s political leadership needs a major overhaul.

The answer surely has to be ‘yes’.…

EUROPE’S FATF-style body Moneyval has raised serious concerns about AML/CFT standards among 19 of its members, with its 2020 annual report concluding their average compliance is “below satisfactory”. The jurisdictions assessed were Albania, Andorra, Armenia, Cyprus, the Czech Republic, Georgia, Gibraltar, Hungary, Israel, the Isle of Man, Latvia, Lithuania, Malta, Moldova, Russia, Serbia, Slovakia, Slovenia and Ukraine.…

The under-developed system of higher education of African archipelago country São Tomé & Príncipe is growing slowly amidst expanding demand, being assisted by international projects and funds.
One major potential initiative that may cause significant progress, however, involves this Lusophone country being chosen by the Pan African Institute for Development (PAID) to host a future International University of Development Sciences.…

Lie detection is an emerging science, with technology being developed to help companies and law enforcement seek to detect fraudsters and other criminals. Artificial intelligence is a potential key development in enabling machines to screen subjects physical and audible response to questions to detect lies.…

MALTA’S only multiple casino operator has been fined over serious AML/CFT failings, with the country’s Financial Intelligence Analysis Unit (FIAU) ordering Tumas Gaming Ltd to undertake AML control reforms.

The company must pay EUR233,156 for breaching the country’s Prevention of Money Laundering and Funding of Terrorism Regulations.…

CONCERN about continued Russian meddling in American elections, the ‘SolarWinds’ backdoor hack into major US institutions, and targeted assassinations of dissidents abroad, have sparked the imposition of major new sanctions powers by President Joe Biden,

Declaring a national emergency to fight the cyber-crime threat posed by Russia, Biden released an executive order giving his administration wide-ranging powers to freeze and block asserts of Russian individuals and companies deemed associated with these Russian intrusions.…

THE WIDE diversity of AML laws worldwide can complicate the enforcement of AML/CFT extradition proceedings.

Financial Action Task Force (FATF) recommendations 37 and 39 say that governments should be prepared to extradite money launderers (and terrorist financiers) to another country if they both criminalise the underlying predicate offence.…