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THE FINANCIAL Action Task Force (FATF) has warned Iran it faces tighter international scrutiny of its financial services and dealings, should it fail to criminalise terrorist financing and boost its suspicious transaction reporting (STR) requirements.

In its latest assessment of jurisdictions failing to comply with FATF anti-money laundering and combating the financing of terrorism (AML/CFT) recommendations, the global AML body singled out the Islamic republic, giving Tehran until February (2015) to make reforms, or face the consequences.…

The European Commission today cleared the acquisition of the Corialis Group, a European supplier of aluminium extrusion services and aluminium doors and windows, by Advent International Corporation, a US investment firm. A Commission communiqué said the deal “would not raise competition concerns as Advent is not active in any market in which Corialis is active” at present, notably the aluminium sector.…

By the end of next year, the increasingly wealthy 10-member Association of Southeast Asian Nations (ASEAN) bloc aims to establish its own European Union-style common market for its combined population of 600 million.
Experts say that the new ASEAN Economic Community (AEC) is expected to deepen cohesion and liberalisation within a regional market that has already made significant strides in removing trade barriers that can impact tobacco product sales.…

EVERY five years, a new European Commission is appointed with the supposed aim of renewing the energy and impetus of the European Union (EU). What are the implications for the fight against commercial crime? Keith Nuthall and Méabh Mc Mahon report from Brussels.…

Russia may ban imports of cars from the European Union (EU), the United States and maybe Japan if Brussels and Washington impose additional sanctions because of Moscow’s role in the Ukraine crisis.

An aide to Russia’s President Vladimir Putin told wardsauto that the Russian government would be especially monitoring a meeting of the EU Council of Ministers for foreign affairs on October 20.…

ARMENIA is trying to increase its garment and textile market share locally and internationally, with the Russian government trying to help with a USD1 million grant. This will fund a project ‘Improving Competitiveness of Export-Oriented Industries in Armenia through Modernisation and Market Access’, which will be implemented by the UN Industrial Development Organisation (UNIDO).…

THE EUROPEAN Commission has announced it will pay an additional EUR3 million to the Airport Communication Project (AIRCOP), financing its work to 2016. AIRCOP is run by the UN Office on Drugs and Crime (UNODC), the World Customs Organisation (WCO) and Interpol, and aims to strengthen anti-narcotic detection, interdiction and intelligence capacities in Africa, Latin America and the Caribbean. …

A NEW European Commission nominated to hold office for the next five years has been told by its incoming president that it must increase transparency and avoid any hint of sleaze.

With fraud against the European Union (EU) institutions still costing taxpayers millions of Euros and the record of the outgoing Barroso Commission marred by the Dalli affair, nominated Commissioners have been told their “conduct must be unimpeachable.”…

THE NEW team of European commissioners scheduled to take office on November 1, who will impact European Union policy affecting the cosmetics sector, was announced today.
The incoming president of the Commission, Jean-Claude Juncker, nominated Vytenis Andriukaitis, of Lithuania, as EU health commissioner.…

Sourcing trends in fast fashion in Europe and north America are in flux, being affected by the economic downturn, changes in consumer behaviour and growing awareness of industry practices, especially in the wake of the Rana Plaza collapse in Bangladesh last year.…