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THE WORLD’S largest virtual currency (VC) Bitcoin is being buffeted by alleged abuse by organised crime. And with at least 1,500 other ‘cryptos’ in circulation, even if this most established VC becomes crime-resistant, others may not, seeking a market edge with anonymity features.…

ACCA is pressing for clarification on some key outstanding issues regarding Britain’s impending departure from the European Union (EU), as the European Commission consults on a draft withdrawal agreement released on February 28.

Of key interest to Chas Roy–Chowdhury, ACCA’s head of taxation, is the length of time that the European Court of Justice (ECJ) will retain jurisdiction over elements of British tax law, following the UK’s planned departure date on March 29, next year (2019).…

THE GULF paint and coatings market has had another year of stagnant growth, with sales impacted by stalled infrastructure projects, government policies and regional turbulence. Sales in 2017 were further impacted by the economic siege of Qatar, now into its seventh month, by its Gulf Cooperation Council (GCC) neighbours Saudi Arabia, the United Arab Emirates (UAE), and Bahrain.…

FINANCIAL fraud, as all practitioners know, has become increasingly international, a trend that will doubtless continue. For law enforcers based on national units of theoretically sovereign countries, this poses challenges, and one particularly tough nut to crack are procedures to extradite suspects to face trial in the country where their alleged victims reside.…

TARGETING online fraud as businesses, government and consumers increasingly conduct business and transactions via the Internet is an increasing priority for anti-fraud technology providers.

Real-time identification of potential frauds is a key focus of new systems developed and released in the past year.…

The UK government is setting up a national economic crime centre to tackle the billions of pounds still laundered through the City of London financial centre and GBP6.8 billion (USD9 billion) lost to fraud annually in the country. The centre, to be set up within the country’s National Crime Agency (NCA), comes as part of a package of measures designed to stamp out fraud, corruption and money laundering, which UK Home Secretary Amber Rudd unveiled on December 11.…

THE INTERNATIONAL Civil Aviation Organisation (ICAO) is to discuss enriching the weather forecasts supplied to airlines, airports and air traffic controllers through the World Area Forecast System (WAFS), so that pilots have much more detailed data available to avoid turbulence and tap stronger tail winds.…

PERSONAL care product packagers are taking increasing care over the design and development of secondary packaging, noting that this can impart brand value, just in the same way as the elegant primary packaging that has always been part of the personal care product experience.…

With its mega shopping malls, opulent standards of living and investor-friendly climate, the United Arab Emirates (UAE) has always been a strategic market for international beauty brands. The small nation of 9.27 million was ranked as the seventh biggest consumer of beauty products in the world by research firm Euromonitor International, with a per capita spend of around USD239 in 2016.…

The lure of banking bonuses, lack of dedicated resources, ineffective implementation of compliance mechanisms and whistleblower protection schemes have all been blamed for incidents of financial organisations turning a blind eye to money laundering.

But it seems that regulators are increasingly unimpressed – a fact that money laundering reporters need to heed.…