Search Results for: Russian

THE GLOBAL art trade’s exposure to abuse by money launderers is to come under scrutiny as the European Union (EU) countries have started adopting the 5th EU anti-money laundering directive (EU 2018/843 – 5AMLD), which brings cultural artefacts trading under AML controls.…

It may not have been widely noticed internationally, but Dublin has become a key cog in the Russian economy’s financial system. That exposure – while profitable for the city’s accountants and lawyers – also risks becoming a liability due a lack of transparency over the source and use of funds.…

THE EUROPEAN Union (EU) must create a central agency to supervise banks and non-banking institutions to combat rising risks posed by money laundering, a European Parliament hearing that focuses especially on the threat posed by Russian dirty money, has been told.…

EASTERN Europe remains a highly diverse market, where major beauty brands must think strategically to achieve economies of scale and a regional presence that really deliver profits. This is also a region where some markets are significantly bigger than others – with Russia and Poland being key targets.…

There are two displays in the Moscow office of the CFO of Volvo Car Russia, Vladimir Lagutin, that catches the attention, immediately: a large elegantly-framed poster of UK electronic music band Depeche Mode and a case of tennis balls.

“Those things – music and tennis – keep me from being stressed,” says Lagutin.…

THE ENFORCEMENT of Russian anti-money laundering laws is in the rise, although there are concerns that some AML cases have political motivations behind them, even if – ultimately – the evidence demonstrating ML offences took place stands up in court. Between 2012 and 2016, according to research of Russian press reports and official law enforcement agency statements, more than 30 Russian governors and state officials, former and serving, were accused of fraud or [and] corruption.…

With different forms of fraud skyrocketing, demand for surveillance is not only growing but becoming more diverse, with companies offering services ranging from old-fashioned stakeouts to high-tech detection. A Market Guide for Online Fraud Detection, released in January (2018) by research and advisory firm Gartner Inc, forecasts that the fraud detection and prevention marketplace is expected to grow significantly by 2022.…

Companies in Russia that help the law enforcement authorities uncover and investigate misconduct could be exempt from corporate bribery charges under a new Russian law. The law amends provisions on bribery by legal entities in the Russian Code on Administrative Offences (Administrative Code) to lay down conditions for exempting companies from liability.…

Leading Russian cosmetics and perfume producers have called on Russia’s President Vladimir Putin to block the introduction of mandatory security labelling rules in the country’s personal care product industry to help the fight against counterfeiting and piracy.

This follows the May 3 approval by the Russian government of a list of goods, that will become subject to mandatory labelling, with each product unit assigned a unique code, creating a labelling system where all identification information will be stored digitally.…

COUNTERFEIT foodstuffs were the most common fake good seized by European Union (EU) customs in 2017 – making up 24% of the total – as fakers increasingly look the Internet to sell their illicit wares. Keith Nuthall unpicks the latest EU data on pirated products.…