Search Results for: Russia

Artificial Intelligence (AI) and machine learning are being touted as game-changing solutions to improve the detection of financial crimes, including AML/CFT, but despite some promising results there are obstacles to roll-out, not least regulators’ ability to green-light new technologies as well as effectively utilise the data they produce.…

WHISTLEBLOWER laws may not be new, but they are becoming stronger and being implemented in an increasing number of jurisdictions worldwide – with progress being notable in Europe. The European Union (EU) has ensured in a new directive, approved last October (2019), that all 28 member states within the union last year – ahead of Britain’s January 31 exit from the EU – acquire whistleblowing laws with teeth through a new directive approved by EU ministers last October (2019).…

Airbus is to pay out EUR3.6 billion (USD4 billion) under a trio of deferred prosecution agreements (DPAs) with British, French and United States authorities that were simultaneously agreed by national courts January 31 as part of a global resolution over bribes to clinch civil and military aircraft sales.…

ITALY’S cosmetic and personal care product market remained strong through 2019, with major players in the industry focused on strengthening digital retail and production strategies to further connect with consumers, while deepening their presence in foreign markets, particularly in Asia. 

The year 2019 was also dynamic in terms of acquisitions, with a handful of Italian BPC (beauty and personal care) companies buying businesses that specialise in new and different products to extend their reach in new product categories, both domestically and abroad.…

THE RUSSIAN government, while being praised for improving its AML/CFT efforts, has been asked by the Financial Action Task Force (FATF) to better probe complex ML cases and root corruption from banks and even AML institutions.

In its latest mutual evaluation report on Russia released today (December 17), FATF noted that “some parts of Russian law enforcement agencies have a corruption problem, including agencies charged with investigating ML” (although it did not name the tainted bodies).…

THE UZBEKISTAN clothing and textile industry is eyeing a major increase in clothing and textile imports as its government liberalises what was until three-years-ago a largely unreformed post-Soviet state. A key goal is swapping raw cotton exports for overseas sales of added value textiles and clothing.…

The Netherlands-based investment trust, Impala Invest BV, has reached an agreement with creditors banks and will take over troubled Greek pigmeat, turkey, cheese and other deli product manufacturer Creta Farms, according to sources close to a planned deal. While company representatives have yet to release a formal statement on the plans, because Crete-based Creta Farms operates under temporary administration appointed from a court of first instance, the final approval of the deal is expected to be announced in the next few days.…

Businesses across the personal care product sector have expressed concern about a comprehensive national digital marking and traceability system that the Russian government plans to comprehensively put in place by 2024. A limited selection of products are being used to trial the system from the New Year and this includes perfumes.…

Diplomats at the World Trade Organisation’s goods council have attacked the European Union (EU) over its plans to integrate titanium dioxide and cobalt into its health and safety laws, claiming this could impose unnecessary red tape restrictions on exporting certain stainless steels to the EU.…

THE EUROPEAN Commission will early next year (2020) consider whether to add cadmium to the European Union (EU) critical raw material list, with the aim of encouraging production and recycling of this mineral that widely used in batteries, potentially helping the EU economy away from fossil fuels.…