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With the global commodities market valued at USD121.2 trillion in 2024 and expected to generate USD136.8 trillion in 2029 (1), the scope for fraudsters to make money from this sector is vast. German statistical service Statista notes that commodities sales have latent augmentation, given that it all includes emissions trading systems expanding worldwide, along with energy products, food and drink, precious and industrials metals and more.…

Cybercrime has spanned national borders as it has increased exponentially in recent years. However, despite often being carried out in multiple jurisdictions that require a coordinated multinational response, tackling such crime has been hampered by the lack of international cooperation. Paul Cochrane reports.…

Terms of reference for a United Nations Framework Convention on International Tax Cooperation have been agreed by an ad hoc UN committee, including integrating commitments on tackling tax avoidance and tax evasion, plus equitable taxation of multinationals. A UN member state-led negotiating committee will now meet in 2025, 2026 and 2027 for at least three sessions per year to complete and submit a final text to the UN general assembly for approval.…

There are undoubtedly vast amounts of data available through cryptocurrency blockchains for AML/CFT/CFP compliance, supervision and law enforcement, making increasingly available and sophisticated assessment tools more valuable.

Yong Li, Anti‑Money Laundering Advisor, for Canada-based consultancy The AMLShop, told MLB of the available crypto-ledger data: “Up to the end of last month, for Bitcoin it’s 596 gigabytes [GB] and for the Ethereum it is about 1,100 GB.…

The Canadian auto sector has called for improvements in labour relations in the country’s rail sector, after it faced significant major disruption caused by the ongoing work stoppage of 10,000 rail workers on Canada’s two railroad networks. While a Thursday lockout was halted by the Canadian government yesterday through an order requiring binding arbitration on the Teamsters Canada Rail Conference (TCRC) and the Canadian National (CN) and Canadian Pacific Kansas City (CPKC), the Teamsters have challenged the order as regards CPKC, and are, said spokesperson Marc-André Gauthier, now “technically on strike, no trains are running”.…

The Canadian automobile industry has welcomed the planned imposition of Canada’s planned 100% tariffs on Chinese BEV imports, saying it will give the sector breathing space to set up a comprehensive BEV supply chain. This follows the Canadian and Ontario governments sinking Canadian dollars CAD52.5 billion (USD39 billion) into creating a mining-to-assembly BEV industry in Canada.…

The number of build-to-order (BTO) auto consumers pre-ordering vehicles in north America direct from OEMs, has been growing, and is expected to continue expanding, but not as quickly as automakers predicted during the Covid-19 pandemic. US sample survey data released by Cox Automotive in February (2024) said 267 consumers out of 1,932 had re-ordered vehicles on the previous 12 months, with 221 buying from franchised OEMs such as Ford and Toyota, while 46 bought from new form OEMs such as Tesla and Rivian.…

The University of Victoria (UVic), in Canada’s temperate rain forest zone, on Vancouver Island, British Columbia, has blazed a trail in integrating its education for sustainable development (ESD) with an expansive range of courses and activities, deepening its impact.

The 2024, the Times Higher Education (THE) Impact Rankings rated UVic as fifth worldwide in the world for supporting the UN sustainable development goal SDG13 on climate action; and fourth worldwide for helping promote SDG11 on developing sustainable cities and communities.…

Canada’s Toronto-Dominion Bank (TD) is preparing for fines topping USD3 billion in the United States over major failings in its money laundering controls at several branches. Toronto headquartered TD announced on August 21 (1) that it was setting aside USD2.6 billion from third quarter earnings to pay expected US fines over past money laundering compliance failures, on top of another USD450 million reserved in the previous quarter.…

Since the Hamas-led attack on Israel on 7 October 2023, and the ensuing Israeli war on Gaza, the Palestinian banking sector has been caught in the crosshairs. Meanwhile, Hamas continues to get funding as the war enters its 10th month.

The Palestinian banking sector, overseen by the Palestinian Authority (PA), has been under heightened pressure from the Israeli government following the Hamas-led attacks.…