Search Results for: London
10 results out of 1486 results found for 'London'.
TURKS & CAICOS ISLAND S - PARADISE LOST TO CORRUPTION
BY GEMMA HANDY
Endemic corruption in a British overseas territory, compounded by claims of bribery and fraud, saw its constitution suspended and it returned to direct UK rule.
The Turks & Caicos Islands are now being prepared for a return for responsible government, but are sufficient checks and balances in place to prevent a backslide to commercial crime?…
DIRTY MONEY FLOWS EAST AS WEST TIGHTENS ITS AML SYSTEMS
BY PAUL COCHRANE
THE WESTERN financial system is undergoing profound change, of weakened trust in the sector, heightened tax regulations, pressure to curb banking secrecy and tougher regulatory compliance. As a result, the owners of legal and extra-legal capital who are looking for a safe haven for their money are starting to consider destinations outside the established offshore jurisdictions – the less regulated financial centres of the Middle East and Asia.…
AUSTRALIA'S KNITTING INDUSTRY SHRINKS AS PRODUCTION MOVES ABROAD
BY KARRYN MILLER
WHILE Australia may be the leading producer of wool in the world, very little of its output is knitted and sold in the local market; in fact, 90% of the country’s wool is actually consumed in the northern hemisphere, according to Marius Cuming, spokesperson for Australian Wool Innovation (AWI) – a not-for-profit company involved in the research, development, and promotion of Australia’s wool industry.…
GREXIT: IS IT A NIGHTMARE SCENARIO
BY MICHAEL KOSMIDES, IN ATHENS
A spectre is haunting Europe: the spectre of a possible Greek Euro exit and default. GrExit, as it has been termed, could have catastrophic repercussions for European and possibly the global economy or it could provide some kind of solution for the troubled Eurozone and the heavily indebted country.…
NORTHERN IRELAND COMPANY UPGRADES SIERRA LEONE'S INTERNATIONAL AIRPORT
BY LEAH GERMAIN
SIERRA Leone has had a tough time in the past 20 years, with a savage civil war bringing misery and dislocation, but since 2002 peace has largely held and the economy has started to develop – a good example being the recent improvements to the Freetown-Lungi International Airport (FNA).…
SMALL ISLAND STATES OFFER SPECIAL CHALLENGES FOR ANTI-MONEY LAUNDERING INVESTIGATORS
BY GEMMA HANDY, ERNIE SEON and KEITH NUTHALL
IT is well recognised by the Egmont Group of Financial Intelligence Units (FIUs) that poor countries can struggle to effectively police anti-money laundering legislation, no matter how effective. But when poverty is combined with a state that is small in size, this challenge can be tough indeed.…
FATF CHANGES RULES FOR ASSESSMENT OF THIRD PARTY VERIFICATION OF AML/CFT CHECKS
BY ALAN OSBORN
THE USE of third parties to provide verification that anti-money laundering checks such as CDD (customer due diligence) have been properly carried out is fraught with legal and other difficulties. It is, not surprisingly, one of the areas where banks and others have urged the Financial Action Task Force (FATF) to consider changes in its official recommendations during its current comprehensive review.…
ILLEGAL URANIUM MINING CONTINUES IN THE DRC CLAIM RESEARCHERS
BY WACHIRA KIGOTHO
RESEARCHERS studying mining in the Democratic Republic of the Congo (DRC) are warning illegal uranium mining continues in a country still riven with political violence and weak government authority.
Indeed, militia groups and government soldiers continue to benefit from illegal uranium mining in the eastern DRC, claims Ms Nyambura Githaiga, a researcher with the Nairobi-based African Conflict Prevention Programme.…
EFSA ENDS ITS GENERAL FOOD HEALTH CLAIMS REVIEW - BUT HOW WILL FOOD INDUSTRY BE AFFECTED?
BY MJ DESCHAMPS and KEITH NUTHALL
AFTER three years of painstaking scientific work, the European Food Safety Authority (EFSA) has finished assessing 2,758 health claims made by European Union (EU) food manufacturers about their products.
The companies appear not to have covered themselves in glory.…
EUROPEAN ACCOUNTABILITY ORGANISATIONS BACK UPCOMING EU MINING TRANSPARENCY LEGISLATION
BY MJ DESCHAMPS
IN a drive to combat the illegal exploitation of conflict minerals and create greater transparency of money flows between mining companies and governments, the European Commission is to table a new European Union (EU) law this autumn. It will ask large mining companies to reveal detail about their mining activities and associated financial transactions to shareholders.…