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The invasion of Ukraine by Russia risks undermining AML/CFT, said FATF in its post-plenary communiqué issued in March. (1) But how this unprovoked military action will disrupt the policing and detection of dirty money remains to be seen, noted Carol Van Cleef, chair of the blockchain and digital assets practice, at Bradley Arant Boult Cummings, Washington DC.…

It would be surprising if as complex an intergovernmental programme as AML/CFT did not spark unintended consequences, but some AML/CFT experts fear that the global system designed and promoted by FATF has caused unwanted and damaging actions that cut across its stated goal – to fight and prevent money laundering.…

The international growth of media content focused on Muslim cultural and Islamic religious interests is burgeoning, with companies expanding the reach of their output across national borders, developing an increasingly comprehensive ecosystem of programming delivered by broadcasting and internet-based apps.

The opening of the Dubai, United Arab Emirates (UAE) bureau of the Annahar Al Arabi digital news platform in January (2022) is one example of such cross-border growth, highlighting an appetite for regionally-relevant content in the Gulf region.…

INTRODUCTION

The growth in digital textile printing across the Americas has created a surge in demand for a wide range of digital inks, which is spreading into Latin America as well as north America. The adaptability and broad uses of digital inks, for garments, household products, technical textiles, and more, fits the diversity of the textile sector in the Americas, which spans higher wage industries such as US textile production to lower cost manufacture in central America.…

Higher education institutions are being warned they could be a target for money laundering, with fees being financed by the proceeds of crime, including corruption, which might also buy property, cars and other items for students.

The problem has been highlighted in a series of reports.…

The new National Security Law imposed by Beijing on Hong Kong last June (2020) (1) has added a new dimension to money laundering requirements in the special administrative region (SAR), as banks and other institutions now find themselves required to flag cash movements by figures deemed as ‘secessionist’ under the new law.…

British and Swiss banks have been fined a total of EUR344 million for operating a cartel coordinating their foreign exchange (forex) spot trades of the world’s 11 most important currencies – USD, EUR, GBP, Japanese Yen, Swiss francs; Canadian, Australian and New Zealand dollars; Danish and Norwegian krone and Swedish Kroner.…

Opposition is mounting outside the Big Three US auto manufacturers to proposed federal tax credits for electric vehicle purchases within proposed House of Representatives and Senate versions of the Build Back Better Act.

With a House vote maybe happening this week, representatives of foreign-owned and non-union manufacturers as well as the Canadian and Mexican governments, are pushing for changes to the tax credit packages under discussion.…

The executive director of the Chamber of the Textile and Apparel Industry, of El Salvador (CAMTEX – Cámara de la Industria Textil) has told Just Style how her manufacturing hub is seizing market opportunities growing as Covid-19 ebbs.

Patricia Figueroa, who has been in her job since 2015, also highlighted the challenges the Salvadoran clothing and textile industry will tackle in 2021-22, with CAMTEX’s help.…

THE CANADIAN auto parts sector is likely to suffer should the Trump administration go ahead with plans to impose escalating duties on Mexican exports to the USA to force Mexico to further restrict immigration into America.

With President Donald Trump yesterday (June 5) claiming talks with the Mexican government have been insufficiently productive, the US is poised to impose 5% duties on all imports from Mexico on June 10.…