Search Results for: Lebanon

A former DEA agent who laundered money undercover to attack the Medellín and Cali cartels has called for a root-and-branch reform of AML, so that its vast resources target the most suspicious transactions and the professional launderers who facilitate them. Speaking to MLB, Robert Mazur, who offered ML services to drug kingpins such as Pablo Escobar in the 1980s and 1990s to undermine their criminal networks, said that many laundering techniques used then are still in use today.…

The huge offshore finance leak unveiled last month (October 3) by the International Consortium of Investigative Journalists (ICIJ) has highlighted the risks major companies face when doing business in offshore jurisdictions. Keith Nuthall and Andreia Nogueira report.

Major companies undertaking international business must comply with increasingly tough beneficial ownership transparency laws, and risk reputational damage if they are associated with particularly elaborate devices to avoid tax, even if it is legal.…

A friend from Syria once told me of a 20-year-old man, an only child, who left his country, having been ordered to emigrate by his father in fear of the frenzy and killing in his country’s civil war. He moved to the comparative calm of Beirut, Lebanon.…

The huge offshore finance leak unveiled yesterday (October 3) by the International Consortium of Investigative Journalists (ICIJ) and its media partners has highlighted the pressures AML reporters face in complying with increasingly tough beneficial ownership transparency laws.

Reports generated from 2.94 terabytes of data within 12 million documents leaked to the ICIJ from the confidential records of 14 offshore service providers have been analysed by 600 journalists from 150 media outlets in 117 countries.…

After the Second World War, Europe emerged economically and socially drained. The war had destroyed so much housing, industry and infrastructure and killed millions of people. Unsurprisingly, the societies of countries who had fought – or been fought over – and that was most of the continent – were brought their knees by the conflict.…

The Covid-19 pandemic has delivered experience about how an external crisis – in this case health – that forces AML officers to work at home, poses challenges in maintaining professional excellence. According to the Bank for International Settlements’ Financial Stability Institute an estimated 300 million office workers worked from home in May 2020, including 90% of banking and insurance workers.…

WHILE the imposition of age limits on the consumption of tobacco and other nicotine products remains very much a national, and in some cases sub-national jurisdiction decision, there is no doubt that the general trend worldwide is for tighter restrictions on younger consumers, even if they are often tough to enforce.…

The Greek metal packaging sector is characterised by fragmentation between two multinationals and a larger number of smaller Greek enterprises. This defines a national industry that is primarily inward looking, with few exports. Vasilis Papapanousis, sales director at leading tinplate manufacturer ELSA SILGAN Metal Packaging SA, told CanTech International that exports do not account for more than 5-10% of the total Greek production metal packaging.…

“Yes, to coexistence.” It sounds like a platitude – yet sometimes, it is simply a statement describing a most important principle of real life. This statement is written on the entrance of the Max Rayne Hand in Hand School in Jerusalem, that teaches Jews and Arab students side-by-side.…

President Joe Biden may think he has three main foreign policy priorities this year – China, Russia and Iran – but the truth is, as far as the Middle East is concerned, all these challenges roll into one.

That is because both China and Russia are seeking increased influence in the Middle East, and hoping for potential missteps from the USA over the Iran file to leverage their diplomatic positions.…