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Robust international enforcement of revised AML guidance will improve current weaknesses in cryptocurrency compliance, according to financial services analysts.

Current figures indicate about 3,000 separate cryptocurrencies being traded with a value of USD221 billion, according to Yahoo Finance on October 8^.…

A FORMER EY auditor has launched a legal case claiming he was forced from the international accounting network, having alleged that a Dubai audit client was involved in a major precious metal money laundering scam.

Amjad Rihan, represented by London law firm Leigh Day, will claim in a case scheduled to begin in January that he had flagged concerns Kaloti Jewellery International had handled billions of dollars’ worth of cash transactions; imported gold from Moroccan suppliers painted with silver to avoid gold export restrictions; and handled transactions with high-risk countries such as Sudan and Iran without proper due diligence.…

The former CEO and chief operations officer (COO) of Monaco-based energy services company Unaoil have pleaded guilty to facilitating millions of US dollars in bribes to officials in multiple countries. Britons Cyrus Ahsani and Saman Ahsani accepted they made illicit payments in countries including Algeria, Angola, Azerbaijan, the Democratic Republic of Congo, Iran, Iraq, Kazakhstan, Libya and Syria.…

Aggregated data on shared utility platforms operating across global financial services would “remove banks’ fiefdoms, internal silos that stop them from making the KYC process more informed” and “reduce the risk of bad actors entering the financial system through a weak link,” a report from financial services technology providers Celent, in Boston, USA, has claimed.…

Top Barclays banking executives knew that they acting illegally in paying the Prime Minister of Qatar, Sheikh Hamad al-Thani, GBP322 million (USD409 million) for ‘advisory services’ that were really ‘quid-pro-quo’ payments for bailing out the bank during the 2008 financial crisis, a UK court was told.…

As the wearable technology sector continues developing groundbreaking new innovations – from garment-based air conditioners to clothing that boosts mental wellbeing – experts say conductive inks will play a crucial role in delivering the right balance between comfort and functionality. The goal is nothing short of making electronic technologies truly wearable.…

THE INCOMING European Commission may seek to further harmonise European Union (EU) food labelling rules on sugar content. This pledge comes from the nominee for new EU health commissioner, Stella Kyriakides, a Cypriot parliamentarian, whose EU role includes being responsible for food safety and standards.…

MILITARIES try to outsmart the enemy, and researchers tasked with producing textiles to aid effective missions are often told to create materials that could defeat imagined as-yet unconfirmed threats.

“Intelligence shares what threats might look like and we look to address them before anything happens,” said Richard M Arndt, public affairs officer with the US Army Combat Capabilities Development Command (CCDC) Chemical Biological Center, based in Maryland.…

Described by environmental campaigners as “the elephant in the COP21 negotiations room” when climate change proposals were agreed in Paris during 2015, today – the electrification of shipping is moving ahead apace.

From inland ferries to cargo barges and cruise ships, vessels are being built or retrofitted with renewable power propulsion sources, curbing the shipping industry’s major emissions.…

THE BEAUTY and personal care sectors have performed healthily in Australia and New Zealand throughout the past year, with companies providing consumers with fulfilling experiences, skin care excellence and natural ingredients performing particularly strongly.

The continued growth of beauty and personal care in Australia in 2018 was also driven by the expansion of specialist retailers Mecca and Sephora in premium beauty.…