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CONVICTED fraudsters have told the UK’s National Fraud Intelligence Bureau (NFIB) that ‘binary’ options – betting on commodities going up or down – are being used for investment scams, the agency has claimed. While there are legitimate binary traders, fraudsters can slip through the regulatory net as binary options are regulated by the Gambling Commission, not the Financial Conduct Authority (FCA), and then only if UK based. …

Global travel fraud has been increasing sharply as a result of burgeoning numbers of online travel and accommodation booking websites available to consumers. Vanessa Sinders, senior vice president of government affairs at the American Hotel and Lodging Association (AHLA), said there were 15 million online hotel bookings in 2015 in the USA that were affected by fraudulent scams, such as third-party rogue websites that look to the consumer like a hotel website, though they have no actual affiliation, or hacking legitimate accounts on social media and setting up fake advertisements for holiday packages or accommodations that do not exist.…

AS the UK and the European Union (EU) digest the result of the June 23 referendum vote to leave the EU, all options are under consideration. However, short of an unexpected collapse of the movement towards Brexit, reformed future EU-UK relations are likely to complicate existing civil aviation arrangements within Europe.…

The goal of uniting Europe under a single sky of system-wide ATM interoperability, once an improbably futuristic idea, was given a tangible push forward at the SESAR Global Demonstration held in Rome on June 8 and 9. The two-day event, which took place at the Prototype Systems Centre of Italian civil aviation authority ENAV (Ente Nazionale per l’Assistenza al Volo), spotlighted the ways that System-Wide Information Management (SWIM) can simultaneously and seamlessly streamline ATM operations.…

THE EUROPEAN and British pharmaceutical industries are being faced with taking swift action to deal with the impact of the UK referendum vote last week (June 23) to leave the European Union (EU), a move opposed by most medicine manufacturers.

The Association of the British Pharmaceutical Industry (ABPI) quickly responded, with CEO Mike Thompson declaring: “The voice of the British people has been heard.…

Pressure is increasing on companies to disclose their sustainability performance and a mass of voluntary and mandatory environmental reporting guidance has emerged – but the lack of a standard terminology has led to confusion and complexity. This is the conclusion of a new report from the Association of Chartered Certified Accountants (ACCA) and the Climate Disclosure Standards Board (CDSB) called ‘Mapping the sustainability reporting landscape – Lost in the right direction’.…

THE SINGAPORE Stock Exchange (SGX) has started negotiations with London’s Baltic Exchange, which could see Singapore Exchange Ltd obtain full ownership of The Baltic Exchange Ltd, which operates this UK-based international freight derivatives market.

The Baltic Exchange and SGX will now meet with Baltic shareholders and business partners to explain and discuss the offer.…

Deciding where to source sustainable fibres and finding ethical manufacturers can be an overwhelming challenge for clothing companies entering the sustainable product market for the first time.

Many experts suggest that sourcing closer to home is the key to a sustainable practice, but Jason Kibbey, CEO of the US-based Sustainable Apparel Coalition, stressed that where materials are sourced from and where manufacturing occurs has no determination on sustainability.…

MYANMAR, the world’s newest democracy, is taking steps to improve its financial reporting. Its reforms are new – as befits a country that saw its first and only stock exchange – the Myanmar Securities Exchange Centre (MSEC) – open on March 25.…

SHOULD the United Kingdom (UK) elect to exit the European Union (EU) in the referendum on June 23rd [CHECKED], the tax impact on Ireland would be considerable, claimed managing director at Hughes Blake, a leading chartered accountants firm in Dublin.…