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Turkey’s textile and clothing sector is grappling with the fact that around a third of the country’s garment and textile production capacity was clustered around the epicentre of the 7.8 magnitude earthquake that has killed more than 47,000 people, left millions homeless and destroyed hundreds of thousands of buildings.…

International automobile manufacturers, including those based in the USA, have been presented with the first global sustainability reporting standards designed to become compulsory in many countries worldwide from January 1, 2024. They may also apply to foreign companies operating in the USA and overseas branches of US-owned companies such as Ford and GM, depending on a looming decision made from the Securities & Exchange Commission, expected in April (2023).…

Once a stronghold of banking secrecy and a haven for undeclared cash-carrying Italians making deposits in a local micro-state, the Republic of San Marino, the world’s oldest republic (founded in the year 301CE), has been working to repair its AML/CFT reputation.…

THE UK government has marked the anniversary of Russia’s unprovoked invasion of Ukraine by announcing a wide-ranging export ban it says will cover “every item Ukraine has found Russia using on the battlefield to date”. While London has yet to release the formal list of such products, Foreign Secretary James Cleverly said the widened ban “included…hundreds of goods are aircraft parts, radio equipment, and electronic components that can be used by the Russian military industrial complex, including in the production of UAVs [drones].”…

The Alpine principality of Liechtenstein may be small, but it has passed groundbreaking legislation designed to expand its significant financial sector into the world of virtual currencies and assets (VA). The move has prompted concern from European FATF-style regional body Moneyval, whose latest mutual evaluation report (MER) on the 160 square kilometre and 38,250 population country was released last May (2022) (1).…

Luxembourg’s strength as a financial sector has brought the world’s only sovereign grand duchy great wealth (USD133,000 per head in 2021, said the World Bank), but it has also generated scrutiny on how it monitors investors, companies and bank depositors for AML exposure.…

As Pope Francis continues his moves to reform the financial controls of the Vatican City State and The Holy See (VCS/HS), including its AML/CFT systems, the uneven progress within this tiny state with a global reach to fighting corruption and money laundering is illustrated by an ongoing major financial crime trial.…

The professional life of a money laundering reporting officer (MLRO) is of critical importance to the organisations that they serve, but many of their colleagues in separate roles maybe unaware of what happens in the typical day of an MLRO. Shilpa Arora, Senior Director of Anti-Financial Crime Segment Solutions at ACAMS (Association of Certified Anti-Money Laundering Specialists) stressed that a key element of MLRO work is not necessarily actively hunting down dirty money flows, but consultation.…

The European Union (EU) may this year complete a long-negotiated trade agreement with the South American Mercosur bloc, including major knitwear manufacturer Brazil and wool exporter Argentina. EU trade Commissioner Valdis Dombrovskis has said the ratification of a deal that was agreed in principle in 2019 should move a step closer “relatively soon”.…