Search Results for: Estonian
10 results out of 104 results found for 'Estonian'.
INNOVATIVE ESTONIAN DAIRY INDUSTRY FORGES DIVERSE PRODUCT RANGE, SOLD WORLDWIDE
The dairy industry if Baltic State Estonia may be small, but it has seen continuous growth, with 2022 marking the 22nd consecutive year of increased milk production in a country blessed with abundant natural grassland.
“Estonia is among the best in Europe in terms of cow milk production,” Aire Pentjärv, head of the dairy animals performance testing department, of Estonian Livestock Performance Recording Ltd (EPJ – Eesti Põllumajandusloomade Jõudluskontrolli AS), told Dairy Industries International.…
‘SYNTHETIC IDENTITY’ FRAUD SPARKS CONCERN AMONG REGULATORS – BUT WILL BANKS FIGHT IT EFFICIENTLY?
Anti-fraud agencies, financial institutions and central banks are working increasingly hard to fight sophisticated identity fraud, where fraudsters build an identity based on stolen IDs to open bank and credit card accounts. These comprehensive fake IDs – sometimes pulling together multiple identity elements and invented details – are often subbed ‘synthetic identity’ frauds.…
‘SYNTHETIC IDENTITY’ FRAUD SPARKS CONCERN AMONG REGULATORS – BUT WILL BANKS FIGHT IT EFFICIENTLY?
Anti-fraud agencies, financial institutions and central banks are working increasingly hard to fight sophisticated identity fraud, where fraudsters build an identity based on stolen IDs to open bank and credit card accounts. These comprehensive fake IDs – sometimes pulling together multiple identity elements and invented details – are often subbed ‘synthetic identity’ frauds.…
CRAFT BREWERS INCREASE SALES OF DIVERSE BEERS IN NORDIC AND BALTIC MARKETS
The Nordic and Baltic beer markets are increasingly diverse, with craft beer sales growing faster than those for standard beers across the region, with only Lithuania bucking the trend. According to UK-based market researcher GlobalData (which owns Just Drinks), sales of craft beers Denmark, Sweden, Norway, Finland, Estonia and Latvia have all seen significant sales increases over the past five years with many exhibiting double-digit growth.…
THE METAVERSE – MONEY LAUNDERING’S NEW FRONTIER
If you listen to Mark Zuckerberg, chief executive of Meta Platforms, which runs Facebook, humanity is about to take a quantum leap into living lives online as well as offline, interacting with people’s digital representations (avatars) via ‘metaverse’ virtual platforms. The question in AML terms is whether such systems, especially if widely used and interoperable, pose a new and growing risk of dirty money flows?…
EU COUNTRIES LAGGING ON BUILDING PUBLIC UBO REGISTERS
European Union (EU) member states are lagging in compliance with a requirement in the fifth anti-money laundering directive (5 AMLD) (1) to create public ultimate beneficial ownership (UBO) registers by January 10, 2020. A European Commission webpage (2) on 5AMLD compliance last updated June 2 (2022) shows 12 governments are facing infringement proceedings either because they have not adopted legislation writing the directive fully into national law or because they have implemented it incorrectly.…
EU/WTO FOOD AND DRINK REGULATORY ROUND UP – EU SUSPENDS IMPORT DUTIES FOR UKRAINE FOOD AND DRINK EXPORTS
The European Parliament has approved scrapping food and drink duties on imports into the European Union (EU) from Ukraine to support its economy as the country battles for independence against the continuing Russian invasion. With 3,811 civilians confirmed killed in the three-month-long attack by May 19, according to UN figures, the EU has ramped up its support for Ukraine.…
AML EXPERTS GIVE SCEPTICAL WELCOME TO EU REFORM PACKAGE, STRESSING NEED FOR ROBUST IMPLEMENTATION
The comprehensive set of reforms to the European Union (EU) AML/CFT system the European Commission proposed July 20 through a package of four legislative initiatives (1) could eliminate weaknesses in the fight against dirty money, but success will still hinge on implementation in the member states, experts have argued.…
FINLAND CAN MANUFACTURING INDUSTRY BUOYED BY NATIONAL MARKET FAVOURING CANNED BEER
THE FINNISH can manufacturing industry has been growing, with new production coming online in the past 10 years to diversify a sector that is able to draw on effective access to raw materials and a highly skilled workforce.
Both Rexam (now part of Ball) and Poland-based Canpack operate efficient Finnish can-making plants.…
GLOBAL CRYPTO-CURRENCY REGULATION NEEDED, SAY EXPERTS, AS AML/CFT CRYPTO-FINTECH GROWS IN SOPHISTICATION
An international model of rules for monitoring and control cryptocurrency operators and crypto-exchanges’ compliance with anti-money laundering and counter financing of terrorism (AML/CFT) regulations worldwide, is needed, some AML/CFT specialists are arguing. Nina Kerkez, market planning director at LexisNexis Risk Solutions, said regulatory frameworks are currently being developed “at an alarming rate” in a wide range of jurisdictions, with significant divergences apparent in, for example, KYC/CDD requirements and when to file suspicious activity reports (SARs).…