Search Results for: Dominican Republic
10 results out of 1117 results found for 'Dominican Republic'.
GOLD IS IDEAL LAUNDERING VEHICLE, BUT AML OVERSIGHT CONTROLS ARE TOO WEAK ARGUE CRITICS
The international gold trade is worth over USD6 trillion a year, according to the World Gold Council (WGC), but oversight of the supply chain is considered weak by many critics, relying on self-regulation, making it vulnerable to money laundering.
Gold remains scarce and hence valuable: from antiquity until 2019, just 197,576 tonnes has been mined – equivalent to a 21.7 metre cube, according to the World Gold Council.…
EU COUNTRIES DRAGGING THEIR FEET OVER PUBLIC UBO REGISTERS
Many of European Union’s 27 member states appear to have been dragging their feet when implementing a key provision of the fifth anti-money laundering directive (5AMLD) (1), setting up a public ultimate beneficial ownership (UBO) register. The registers should have gone live for the corporate world on January 10, 2020, and two months later on March 10 for trusts.…
EU COUNCIL AUTHORISES SANCTIONS LAW TARGETED AT TURKISH OIL AND GAS SECTOR
THE EUROPEAN Union (EU) has ramped up pressure on Turkey to stop exploratory oil and gas drilling in Mediterranean waters that EU member state Cyprus claims is within its exclusive economic zone (EEZ). Turkey’s state-owned oil company TPAO (Türkiye Petrolleri Anonim Ortaklığı) has sent its drillship Yavuz south of Cyprus, notably testing areas close to Israel’s EEZ that have anticipated major gas deposits.…
REUSING ELECTRIC VEHICLE BATTERIES CAN HELP RENEWABLE ENERGY
WHILE projections for sales of electric vehicles (EV) vary, all predictions agree that this market will explode in size in the next few years. An International Energy Agency (IEA) model for instance has suggested 245 million EVs will be driven worldwide by 2030. …
NEW EU PUBLIC PROSECUTOR CALLS FOR GOVERNMENTS TO STEP UP TO THE PLATE ON EPPO
The European Chief Prosecutor (ECP) of the embryonic European Public Prosecutor’s Office (EPPO) has challenged the 22 European Union (EU) states (1) that have signed up to an enhanced cooperation pact underpinning its existence to properly fund the new institution. Without enough money, the EPPO will not be effective, ECP Laura Codruţa Kövesi told Fraud Intelligence.…
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).…
DRC UNIVERSITIES REOPEN, EVEN AS COVID-19 SPREADS AND HEALTH FEARS PERSIST
The government and higher education sector in the Democratic Republic of Congo (DRC) have succumbed to pressure from students and academics about avoiding further delays in the academic calendar, resuming classes despite Covid-19 continuing to spread.
Universities and colleges reopened on August 10, following more than four months of inactivity following a state of emergency declared by DRC President Félix Tshisekedi, crippling higher education institutions.…
ENERGY CONSORTIUM RELEASES EUROPEAN HYDROGEN NETWORK PLAN
A PLAN to build a dedicated hydrogen pipeline network of almost 23,000 km within nine European countries by 2040 has been released by 11 European gas infrastructure companies. Enagás, Energinet, Fluxys Belgium, Gasunie, GRTgaz, NET4GAS, OGE, ONTRAS, Snam, Swedegas (Nordion Energi), Teréga and a consultancy Guidehouse call their proposed network a ‘European Hydrogen Backbone’.…
INTERNATIONAL REGULATORY ROUND UP – UN FAO WANTS PERMANENT COCOA MARKET OBSERVATORY
THE UNITED Nations’ Food & Agriculture Organisation (FAO) has proposed creating a permanent ‘observatory’ monitoring cocoa markets, assessing value and costs, to help chocolate sales revenues be more equitably distributed throughout supply chains.
In a report called a ‘Comparative study on the distribution of value in European chocolate chains’, the FAO said such “objectified and cross-checked data” would aid “a multi-stakeholder discussion” at national and global levels on revenue sharing.…
CROSS-BORDER POLICE COLLABORATION IS KEY TO CRACKING DOWN ON INTERNATIONAL DAIRY CRIME
DAIRY products are supposed to be healthy, tasty, clean and legal, but unfortunately, as with other industries, criminals seek to exploit demand created by honest suppliers through smuggling, mislabelling, adulterating and selling unsafe stock.
These concerns prompt regular action by police, for whom food fraud and related crime is an increasing risk worldwide, and given the international nature of today’s supply chains, cross-border collaboration between law enforcement forces is of special value.…