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Remote working boomed during the Covid-19 pandemic and seems set to stay. For AMLOs working outside of the office, multiple security risks abound but can be mitigated if the right procedures are in place and precautions taken.

The pandemic’s initial and fast push of AMLOs and other compliance professionals out of the office forced financial institutions to scramble to get in-house cyber security measures in place to ensure there were no network breaches.…

Every new information technology is a potential double-edged sword for committing and detecting financial crime, including money laundering and terror finance, and the development of large language model (LLM) processing AI systems, such as ChatGPT, is no exception.

Experts have already raised concerns about how these systems could be abused by money launderers, as well as how they may help obliged entities, FIUs and related law enforcement agencies fight dirty money flows.…

Knitting companies based in the European Union (EU) may be told they cannot destroy unsold or returned textiles in future, pushing them to consider design, manufacturing and sourcing changes that will reduce their exposure to a new law.

According to the European Commission, about 5.8 million tonnes of yarn and fabric of all kinds are discarded every year in the EU, approximately 11 kilos per person (1), and their destruction “by economic operators is becoming a widespread environmental problem across the Union, in particular due to the rapid growth of online sales” (2).  …

The European Union (EU) has ramped up its sanctions on Belarus, as Russia’s ally has increased its role in its invasion of Ukraine, hosting members of the Wagner Group, the mercenary company that recently rebelled against the Russian government. Belarus President Alexander Lukashenko helped broker an end to the mutiny by allowing Wagner Group leaders and fighters to move to Belarus and avoid prosecution in Russia.…

The North Sea, tapped for oil and natural gas I earnest since the 1960s by Britain, Norway, Germany, Denmark, the Netherlands and Belgium – is increasingly being utilised as a site for renewable energy projects, as well as carbon capture and storage.…

Russia military attacks on Ukraine’s critical energy infrastructure may be paving the way for the victim country to build a sustainable decentralised renewable energy-based electricity system.

By striking Ukrainian energy infrastructure, Russia hopes to destroy the will of the Ukrainian population, who have remained resilient against Russian occupation and attacks against civilian infrastructure.…

The International Auditing and Assurance Standards Board (IAASB) has proposed an International Standard on Sustainability Assurance (ISSA) 5000, ‘General Requirements for Sustainability Assurance Engagements’. Released for public consultation, the standard is designed to guide limited and reasonable assurance engagements on sustainability information.…

Textile suppliers have been navigating a growing and confusing world of sustainable standards and certifications while trying to meet clients’ diverse requests.  

“This is very difficult because every company has different requirements. So as of today, it is a bit of the Wild West.…

With New Zealand’s raw wool exports falling during the Covid-19 pandemic, the country’s wool sector is witnessing “a historic change”, transforming from farmers as providers of raw material traded as a commodity into that of farmer-owned brands – sold direct to consumer as high-value goods.…

The Ukraine and Russian paint and coating sectors have both experienced major change since Russian military forces invaded Ukraine last February (2022), but as with the war, Ukraine’s industry has suffered much tougher damage.

Indeed, all sectors of the victim country’s economy have been hit hard by Russian military attacks and economic disruption, but none more so than Ukraine’s vulnerable chemical-based industries.…