Search Results for: Latvia
10 results out of 424 results found for 'Latvia'.
EUROPEAN PUBLIC PROSECUTOR TO BE ESTABLISHED
COMPANIES and citizens defrauding European Union (EU) revenue collection (including customs duties and cross-border VAT fraud) and spending programmes, may from 2020 face direct criminal proceedings brought by a European Public Prosecutor. The EU Council of Ministers has approved establishing this new institution in 20 of the 28 EU member states – Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Estonia, Germany, Greece, Spain, Finland, France, Italy, Latvia, Lithuania, Luxembourg, Portugal, Romania, Slovenia and Slovakia.…
EU ROUND UP - EUROPEAN PUBLIC PROSECUTOR TO BE ESTABLISHED
COMPANIES and citizens defrauding European Union (EU) revenue collection (including
customs duties and cross-border VAT fraud) and spending programmes, may from 2020 face
direct criminal proceedings brought by a European Public Prosecutor (EPPO). The EU
Council of Ministers has approved establishing this new institution in 20 of the 28 EU
member states – Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Estonia,
Germany, Greece, Spain, Finland, France, Italy, Latvia, Lithuania, Luxembourg, Portugal,
Romania, Slovenia and Slovakia.…
EUROPOL IN BIGGEST HIT EVER AGAINST ONLINE PIRACY
International police agency Interpol and its European Union (EU) counterpart Europol have
announced what they say is the biggest hit ever against online piracy with law enforcers
taking down more than 20,500 websites selling counterfeit goods seized in 26 countries.
Participating countries were Albania, Austria, Belgium, Bosnia & Herzegovina, Britain,
Colombia, Croatia, the Czech Republic, Denmark, France, Greece, Hungary, Iceland, Ireland,
Italy, Latvia, Moldova, Norway, Peru, Portugal, Romania, Serbia, Spain, Ukraine, the USA
and China special administrative region Hong Kong.…
INTERNATIONAL, REGIONAL AND NATIONAL STANDARDS OFFER GOOD PRACTICE AS TEXTILE DIGITALISATION SPEEDS AHEAD
IN a cutting-edge area of the textile sector such as digital manufacturing, planning and distribution, it is always helpful to know what the gold standard is for performance. But with technologies still developing and innovation taking hardware and software in directions that are untested – with implications that are as yet unknown – companies may not want to follow the crowd.…
AML AI SYSTEMS NEED ACCESS TO BIG DATA TO BE REALLY EFFECTIVE, SAY EXPERTS
Greater collaboration between private sector organisations is the key to even greater use – and success – of artificial intelligence (AI) in combating money laundering, cross-sector experts believe.
Specialists from banking and finance, compliance, the legal profession, law enforcement and AI developers all concur that the most effective way forward in the ongoing anti-money laundering (AML) battle is to increase the amount of shared data.…
ASIA REGULATORY ROUND UP – MALAYSIA LAUNCHES NEW CORPORATE GOVERNANCE CODE
Securities Commission Malaysia (SC) has released a new Malaysian Code on Corporate Governance (MCCG). This revised guidance encourages the development of corporate governance culture, not just within listed companies, but also state-owned enterprises, small-and-medium sized enterprises (SMEs) and licensed intermediaries. This code includes 36 practices to support strong board leadership; effective audit, risk management, and internal controls; and solid corporate reporting.…
THE EU AND GAZPROM ON THE WAY TO AGREE, AT LEAST UNTIL THE NEXT FEW WEEKS
The European Commission and the Russian giant Gazprom have moved closer to striking a deal over the company’s competitive behavior in the European Union (EU). On Monday (March 13), the EU competition Commissioner Margrethe Vestager invited all interested parties to comment on Gazprom commitments to address concerns that the company is breaking EU anti-trust rules.…
DERISKING CONTINUES, ALTHOUGH AML BODIES ARE PRESSING BANKS TO BE MORE CAUTIOUS
THE DE-RISKING by major banks through cancelling correspondent banking relationships (CBRs) has started to raise such alarm that anti-money laundering institutions are starting to advise against such caution.
“There has been international pressure to make banks think twice about turning down customers and not just have blanket bans on certain jurisdictions or certain types of institutions,” said Sarah Ouarbya, partner in Mazars, one of the UK’s largest accountancy firms and an international specialist in audit, tax and advisory services.…
INVESTIGATIVE JOURNALIST CONSORTIUM DETAILS SOPHISTICATED ‘RUSSIAN LAUNDROMAT’ MONEY LAUNDERING SCHEME
A CONSORTIUM of investigative journalists has claimed to have identified a model showing how a Russia-based money laundering scheme moved at least USD20.8 billion out of the country, via Moldova and Latvia. Significant portions of this money was transferred to accounts held by western banks including Britain’s HSBC and Coutts, the Bank of America and other major financial institutions, said the Organized Crime and Corruption Reporting Project (OCCRP).…
EU MEMBER STATES CLEAR WAY FORWARD TO CREATE EUROPEAN PUBLIC PROSECUTOR – BUT MAYBE JUST FOR 17 MEMBER STATES
THE EUROPEAN Union (EU) has taken a significant step towards the creation of a European Public Prosecutor’s Office (EPPO), but its chosen procedure may mean the powers of EU anti-fraud office OLAF will be undiminished, at least for some countries.
The latest European Council – the EU summit of heads of government – on March 9 agreed that the creation of the EPPO should be mandated through the EU’s ‘enhanced cooperation’ procedure.…