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Professional money launderers are exceedingly hard to catch, and – if convicted – are invariably replaced by other pros waiting in the wings. What more can be done to go after professional launderers?

Going by the estimates of the global scale of money laundering, and the low seizure rates – by some accounts 1%, by others (such as New Zealand AML specialist Ron Pol) less than 0.1% – efforts to curb the amounts of dirty money sloshing around the financial system are proving ineffective.…

In late-July, the European Investment Bank (EIB) agreed on the financing structure of NeuConnect, the first ever energy link connecting Germany and the United Kingdom, two of the largest electricity markets in Europe. The investment to build the interconnector will amount to EUR2.8 billion, with the EIB set to contribute up to EUR400 million for the financing construction of the section within the European Union (EU).…

The investment to build the interconnector will amount to EUR2.8 billion, with the EIB set to contribute up to EUR400 million for the financing construction of the section within the European Union (EU).  Other financiers include the UK Infrastructure Bank, which will focus on the stretch within UK maritime and land territory, and the Japan Bank for International Cooperation (JBIC).…

The rising value of the US dollar in international exchange markets is inflating the value of exported US-made vehicles, while reducing the cost of competing imports and parts sourced overseas.

With war and inflation making the US dollar an attractive option to currency traders, the greenback has been appreciating, including against the Euro (EUR), Japanese yen (JPY), Canadian dollar (CAD), British pound (GBP), Swedish krona (SEK) and Swiss franc (CHF) – making up the US dollar index (USDX).…

The Canadian automotive industry has welcomed the deal within the USA’s Democratic Party to propose a revised tax credit on purchases of electric vehicles (EV) in America which extends the payment to EVs made across north America, including Canada and Mexico.…

INTRODUCTION 

With the textile industry under pressure from consumers, regulators and standards to become more sustainable, companies are looking at all aspects of the supply chain – including upstream to fibre production. Digitalisation has a key role to play here, especially in supplier countries where the use of such technology is weak – such as in Africa.…

If you listen to Mark Zuckerberg, chief executive of Meta Platforms, which runs Facebook, humanity is about to take a quantum leap into living lives online as well as offline, interacting with people’s digital representations (avatars) via ‘metaverse’ virtual platforms. The question in AML terms is whether such systems, especially if widely used and interoperable, pose a new and growing risk of dirty money flows?…

Australia’s commitment to strengthen its anti-money laundering legislation is now an eight-year-old promise that has yet to be fulfilled. However, with a change in government in May 2022, with the Labor Party taking power after nine years of government by the right-centre Liberal-National Coalition, there is renewed hope that reform could finally be delivered.…

The shortage of skilled workers in the US renewable energy industry is a straightforward economics problem, according to green power industry consultant Bob Parkins: “Too much demand and too little supply.” The ‘Inflation Reduction Act’, the scaled down version of the ‘Build Back Better Act’ that failed to secure enough support, will still boost renewable energy in the USA.…

The economic development minister of Canada’s automotive industry hub Ontario has welcomed today’s (July 13) announcement by Belgium’s Umicore to sink Canadian dollars CAD1.5 billion (USD1.15 billion) investment to build a cathode and precursor materials manufacturing plant.

It will be near Kingston, eastern Ontario, with operations scheduled to begin in 2025.…