Search Results for: London
10 results out of 1486 results found for 'London'.
REGULATORS STARTING TO ENCOURAGE FINANCIAL INSTITUTIONS TO EXPERIMENT WITH AI MONITORING OF SUSPICIOUS TRANSACTIONS
Regulators have started to actively encourage financial institutions to experiment and use machine learning to detect suspicious activity.
US regulatory authorities have called for innovative approaches to meet AML compliance obligations “to further strengthen the financial system against illicit activity”.
In a joint statement, the Board of Governors of the Federal Reserve System; the Federal Deposit Insurance Corporation; USA FIU the Financial Crimes Enforcement Network (FinCEN); the National Credit Union Administration, and the Office of the Comptroller of the Currency announced their support for innovative technology development last December.…
ITALIAN INVESTIGATORS BUST INTERNATIONAL TAX EVASION AND LAUNDERING RING INVOLVING F1 SPONSORSHIPS
Just four months before Italy’s much-anticipated Formula One (F1) Grand Prix was set to roar through the Monza racetrack on September 6-8, (2019), a major arrest involving money laundering within FI was made in Dubai. Luigi Provini was handcuffed in the United Arab Emirates (UAE) emirate and placed on a direct flight to Rome, for questioning by Italy’s Financial Police (Guardia di Finanza – GdF).…
REGULATORS STARTING TO ENCOURAGE FINANCIAL INSTITUTIONS TO EXPERIMENT WITH AI MONITORING OF SUSPICIOUS TRANSACTIONS
Regulators have started to actively encourage financial institutions to experiment and use machine learning to detect suspicious activity.
US regulatory authorities have called for innovative approaches to meet AML compliance obligations “to further strengthen the financial system against illicit activity”.
In a joint statement, the Board of Governors of the Federal Reserve System; the Federal Deposit Insurance Corporation; USA FIU the Financial Crimes Enforcement Network (FinCEN); the National Credit Union Administration, and the Office of the Comptroller of the Currency announced their support for innovative technology development last December.…
GERMAN FREIGHT FORWARDER HIT WITH USD1 BILLION FINE OVER ANGOLA BRIBES
Disgraced German-owned freight forwarding company, FH Bertling, was fined GBP850,000 (USD1 million) June 3 for an Angolan bribery scheme, in a case brought by the UK Serious Fraud Office (SFO). The four-year investigation and prosecution by the SFO into the company’s British wing revealed that senior executives had conspired to pay USD350,000 in bribes to an agent of the Angolan state oil company, Sonangol, to secure USD20 million worth of shipping contracts between January 2004 and December 2006.…
GERMAN FREIGHT FORWARDER HIT WITH USD1 BILLION FINE OVER ANGOLA BRIBES
Disgraced German-owned freight forwarding company, FH Bertling, was fined GBP850,000 (USD1 million) June 3 for an Angolan bribery scheme, in a case brought by the UK Serious Fraud Office (SFO). The four-year investigation and prosecution by the SFO into the company’s British wing revealed that senior executives had conspired to pay USD350,000 in bribes to an agent of the Angolan state oil company, Sonangol, to secure USD20 million worth of shipping contracts between January 2004 and December 2006.…
MONGOLIA LOOKS TO LEVERAGE DAIRY TRADITIONS TO CREATE SUSTAINABLE EXPORT SECTOR
MONGOLIA’S grassland ecology has always lent itself to livestock and hence milk production, so it is no surprise that the development of a dairy industry has been a priority for its government and international institutions.
A five-year loan worth USD12 million from the European Bank for Reconstruction & Development via Mongolia’s XacBank announced in February (2019) is just one such related initiative.…
BANKS HAVE TO WORK HARDER TO AVOID SANCTIONS BREACH PUNISHMENTS
BANKS worldwide are having to take increasing care lest they be fined for violating sanctions and not having adequate regulatory compliance regimes in place. With the USA expanding sanctions against Venezuela and Iran, financial institutions need to not only have adequate screening software but anticipate potential new regulations and that regulators will be pouring over past activities.…
ICCO MOVES TO AFRICA – BUT STILL BUILDING LINKS WITH MANUFACTURERS
IT is now two years since the International Cocoa Organisation (ICCO) headquarters moved from London to Abidjan, in Ivory Coast (Côte d’Ivoire) in July 2017, a move ICCO called a “turning point that will bear fruit in the years to come.”…
NEW EMISSIONS STANDARDS WILL PROMOTE SHIFT TO ELECTRIC VEHICLES, EXPERTS SAY
THE NEW CO2 standards approved by European Union (EU) legislators for cars, vans and trucks being driven in its territory will lead to more electric vehicles (EVs) and alternative drivetrains including hybrids and fuel cells, experts have told wardsauto.
On April 18, the European Union (EU)’s elected legislative body the European Parliament, approved the first EU regulation on emissions standards for heavy-duty vehicles.…
EUROPEAN NONWOVENS SECTOR GROWS EXPORTS AS A HIGH QUALITY CENTRE OF INNOVATION
EXPORTS of nonwovens products from the European Union (EU) to the rest of the world are on the rise, with in 2018 such overseas sales of nonwovens (whether or not impregnated, coated, covered or laminated) within the 28 members of the European Union (EU) accounted for EUR4.33 billion, up from EUR4.19 billion in 2017.…