Search Results for: Dutch caribbean

In the first law enforcement action of its kind, the Dutch Fiscal Information and Investigation Service (FIOD), has shut down a cryptocurrency mixer service Bestmixer.io, alleging it has broken money laundering laws. The service blended potentially identifiable or ‘tainted’ cryptocurrency funds with others, obscuring the trail back to the fund’s original source.…

THE LEGALISATION nationwide of recreational cannabis in Canada last October (2018) was a groundbreaking move – a first for a major western country – and from this coming October 17, at the latest, one that may have significant implications for the beauty business.…

HONG Kong accountants may see an increase in demand for non-financial assessments, with the HK Stock Exchange consulting on proposed new environmental, social and governance (ESG) reporting. It is proposing introducing mandatory disclosure requirements to include board statements considering ESG issues; and what reporting principles are used to develop company ESG reports.…

Turkey’s anti-terrorism laws have been used extensively by its government following the 2016 attempted coup, but fighting money laundering, corruption and financial crime has not been given the same priority.

With the rule of law undermined by the sacking or suspension of an estimated 150,000 members of the judiciary, civil service and military deemed part of the plot to overthrow President Recep Tayyip Erdoğan, eyes are on the mutual evaluation report being undertaken by the Financial Action Task Force (FATF) of Turkey this year.…

Bermuda and Liechtenstein may be half a world apart, but these two financial centres are similarly attractive destinations for parking money, the former with a dominant insurance sector, the latter specialising in tending the assets of the German super-rich. While both jurisdictions have strong privacy laws, they have managed to avoid being labelled by the Financial Action Task Force (FATF) as having weak AML/CFT laws.…

THE ACCA-qualified group finance director for the largest conglomerate in Trinidad & Tobago and a key player in the Caribbean region – the ANSA McAL group – has aligned his personal professional ambitions with his company’s goal of sturdy sustained growth.…

MAJOR western banks have been linked to the ‘Troika Laundromat’ scandal, which saw USD4.8 billion funnelled out of Russia via Russian investment bank Troika Dialog. The latest revelations published March 4 by newspapers linked to the Organised Crime and Corruption Reporting Project (OCCRP) said that Troika was one of at least 75 companies that formed a complex financial web from 2006 to early 2013 and not only shifted billions out of Russia but also USD4.6 billion into the country.…

THE EUROPEAN Union (EU) is expanding its network of cyber-crime expertise, with a view to beefing up intelligence, protections and responses to online criminal attacks, including frauds such as identity theft, as well as hacking.

EU member states and the European Parliament are to start talks establishing from January 2021 a European Cybersecurity Industrial, Technology and Research Centre, pooling European investment in cybersecurity research, technology and industrial development.…

While the confectionery industry is traditionally associated with high sugar levels and unhealthy indulgence, market research indicates that efforts to also appeal to consumers with a growing interest in health and wellness trends are paying off. According to UK-based market researcher GlobalData, in 2016 alone USD3.7 billion worth of confectionery with functional or fortified attributes was sold globally.…

WITH auto manufacturers looking for ways to light-weight electric and hybrid vehicles, to boost performance and battery life, the European Union (EU) is investing in a Spanish company that is seeking to develop recyclable thermo-plastic alternatives to rubber for auto parts.…