Search Results for: Estonian

European Union (EU) member states have been adapting to the new legal guidance on access to their national registers of ultimate beneficial owners (UBOs) following the November 2022 ruling (1) at the European Court of Justice (ECJ) and a new EU directive published June 19 (2024).…

The global snus market is facing change, with consumers switching within the segment from traditional moist snuff products to non-tobacco nicotine pouches while key consumer markets in Europe are being impacted by regulatory uncertainty.

“Moist snuff sales have been declining since 2018.…

While the Baltic States’ metal can industry relies largely on imported packaging, the two industries which routinely utilise local production are the beverage (specifically beer), and canned fish industry. While there were far more production facilities today within independent Estonia, Latvia and Lithuania than when these countries were part of the Soviet Union until 1991, the sector has been declining.…

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.…

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.…

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.…

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.…

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?…

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.…

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.…