Search Results for: Czech Republic

With their large financial services industries and open economies, the United Kingdom and the Republic of Ireland are conspicuously exposed to money laundering (ML) and terrorist financing (TF) risks.

Tough anti-money laundering (AML) and countering the financing of terrorism (CFT) policies are at the heart of their respective financial services regulations, yet both countries are regularly forced to fend off criticisms that they are not doing enough to tackle these problems.…

TRADING partners with the European Union (EU) are concerned about the EU cutting the size of low duty import quotas once Britain quits the bloc, which it is scheduled to do on March 28.

The EU has released detailed plans to reduce the amount of some goods it allows into the EU, to take account of Britain exiting the single European market.…

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.…

EUROPEAN Union member states are dragging their feet implementing the fourth anti-money laundering directive’s (4AMLD 2015/849) beneficial ownership rules. Only five countries met the June 26, 2017, AMLD4 deadline for having an ultimate beneficial ownership (UBO) register under national law – Britain, Denmark, France, Germany and Sweden- according to the European Commission. …

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.…

WITH Malawi’s persistent cycle of poverty where half of its 18 million population (2017 World Bank data) live under the poverty line and nearly 1.5 million children employed as labourers, according to International Labour Organisation (ILO) data, including on tobacco farms – meaningful reforms to prevent these abuses have progressed slowly, experts say.…

THE VIETNAM Chemicals Agency us ramping up efforts to remove lead from paints in Vietnam – officially requesting to be considered a partner in the Global Alliance to Eliminate Lead in Paint, a voluntary partnership formed by the UN Environment Programme (UNEP) and the World Health Organisation (WHO).…

THERE are few more complex accounting issues than transfer pricing (TP), and as the world’s economy becomes more integrated and tax jurisdictions impact each other, experts such as the OECD’s Tomas Balco are increasingly in demand.

Heading the OECD’s transfer pricing unit in the organisation’s Centre for Tax Policy and Administration, Balco commands an almost encyclopaedic technical knowledge of tax.…

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.…

The conventional arms trade has a reputation for using side payment sweeteners to secure multi-million dollar deals. But despite allegations of corruption in numerous jurisdictions, the legitimate arms trade is not on the Financial Action Task Force’s (FATF) radar. Should it be?…