Search Results for: International law

FATF has released its detailed rules on how its fifth mutual evaluation round (MER) will proceed, with assessments beginning next year (2025) and continuing until 2032 (1). Its new procedures for MERs, follow-up reports and grey- and blacklisted countries under FATF’s International Co-operation Review Group (ICRG), are spelled out in detail.…

Legal professions worldwide continue to push against being integrated within comprehensive AML/CFT/CFP systems, with their firms arguing that conducting CDD/KYC and reporting STRs undermines client confidentiality, a cornerstone of practising law.

FATF’s recommendations allow governments significant flexibility on when lawyers should report suspicious transactions, contrasting with tougher requirements for bankers, payment service companies, and non-financial professions such as accountants.…

Australia has long been a laggard in AML/CFT, despite being a leading developed democracy – but its current Labor government has finally bitten the bullet on reform.

In September, it proposed an Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024 (1).…

A new California law mandating clothing and textile manufacturers to take back discarded products starting in 2030 had speakers at a sewn products conference thinking about the sheer complexity of circularity in an industry that mixes so many materials.

A Sewn Products Equipment & Suppliers of the Americas (SPESA) conference in Montréal, Canada, panel discussed California’s Responsible Textile Recovery Act, signed inti law in September (2024).…

The fashion worldwide industry needs to open itself to ideas from a variety of sources to strengthen its position, for instance through automated production efficiency, innovation in sustainability and widening sourcing worldwide, three young entrepreneurs have claimed. Speaking at the Sewn Products Equipment & Suppliers of the Americas (SPESA) conference in Montréal, Canada, this week Michael Mayr, co-founder and COO of Silana, a Vienna, Austria-based manufacturer claiming to have fully automated sewing of soft materials, a tough challenge for robotics, the “last major processing step in fashion production that has not been automated yet,” claims the company.…

European Union (EU) member states are failing to implement mandatory sustainability reporting rules imposed by the EU’s corporate sustainability reporting directive (CSRD), the European Commission has concluded. It has opened infringement procedures against 17 of the 27 EU countries saying they have failed to properly write the directive into their national legislation: Austria, Belgium, Cyprus, Czechia, Estonia, Finland, Germany, Greece, Latvia, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovenia and Spain.…

In a competitive judicial system, where the prosecution and defence can probe each other’s positions, fraud expert witnesses can be valuable in securing convictions or acquittals – but legal teams need to be sure their specialists’ testimony is compelling, solid and crucially – does not stray from their expertise.…

The October 7, 2023, attacks on Israel, and Israel’s wars in Gaza and Lebanon, have hit the country’s higher educational sector hard, with roughly a quarter of all students, as well as faculty, called up to the armed forces, while budget cuts are expected as more money is allocated to the military.…

Companies and researchers are increasingly offering innovative coatings to help businesses and governments fight climate change, providing insulation, heat reflection and other energy-saving functionalities. These products also aid compliance with burgeoning legislation targeting net zero emissions by 2050 and meet intensifying consumer concern about the impact of climate change.…

The European micro-states of Andorra and San Marino have signed an association agreement with the European Union (EU), which will more tightly integrate these small countries with the EU’s AML/CFT policies, programmes and legislation (1).

Both the Pyrenees principality (in 2011) and the Italian enclave republic (in 2012) had already struck monetary agreements with the EU, which allowed them to use the Euro and involved commitments to adopt “through direct transposition or possibly equivalent actions…implementing the EU legal acts [on] the prevention of money laundering” (2) (3). …