Search Results for: Russia

The freezing of Russian assets since the government of President Vladimir Putin invaded Ukraine in February 2022 has prompted western governments to consider seizing that money and property to fund reconstruction of a country ravaged by Moscow’s military aggression. Estimates of the value vary, but there is consensus that the value is at least USD300 billion, with the vast majority being assets from the central bank, the Bank of Russia.…

Although the low countries boom in the paints and coatings markets of Belgium, the Netherlands and Luxembourg (Benelux) during the Covid-19 pandemic is easing, and the industry has been hit by Russia’s invasion of Ukraine and the cost-of-living crisis, the sector is holding up well.…

China’s tobacco consumption has been growing despite its sluggish economy, increasing its import of leaf worldwide. In 2023, China’s tobacco industry generated receipts of Chinese Yuan Renminbi CNY1.5 trillion (USD206 billion), up 4.3% from 2022, according to the China National Tobacco Corporation (China Tobacco).…

Anti-fraud professionals are seeking greater access to larger data pools, inside and outside their organisations, to improve the ability of audit procedures to identify financial crime.

Said Linda Miller, founder and CEO, of the US-based fraud risk consultancy Audient Group: “Fraud is a data problem.…

A lack of infrastructure, government support, foreign trade barriers and weak domestic demand have been hampering the development of the wool industry in central Asia. Limited business opportunities are forcing farmers to focus on breeding sheep for lamb and mutton meat production, especially in Kazakhstan, the region’s wool potential powerhouse, rather than on rearing merino for wool.…

The new president of the European Apparel and Textile Organisation (EURATEX), the Portuguese textile entrepreneur Mario Jorge Machado, wants to push for a more united European Union (EU) to fight unfair competition worldwide.
Machado was elected by his peers during the Euratex’s general assembly on June 14.…

A company helping ship North Korean military supplies into Russia has been sanctioned by the European Union (EU), after Moscow signed a defence deal with North Korea, the rogue one-party state subject to FATF’s harshest AML/CFT controls.

As Moscow continues its two-and-a-half-year long invasion of Ukraine, the EU Council of Ministers have banned any transactions with the company and frozen any EU assets of LLC Vostochnaya Stevedoring Co, which handles containers in Vostochny port, in Russia’s Pacific far east region Primorsky, near Vladivostok, just 180km from the Russian-North Korea border.…

Anti-fraud experts are calling for an increase in cross-sector sharing of data relevant to fighting graft and deception to improve both quantity and quality of information fed into artificial intelligence (AI) models designed to predict fraud risks. They argue the need is important as bad actors use AI to develop increasingly sophisticated scams.  …

Türkiye is one of the top 10 milk producers worldwide, according to the Turkish National Dairy Council (Ulusal Süt Konseyi – USK) but the country’s dairy sector has been impacted over the past two years by high inflation and the depreciation of the Turkish lira (1).…

With AML, it is tough to say where the buck stops, but governments are addressing the need to ensure AML supervisory authorities are themselves assessed, to keep standards high. The issue was central to the recently agreed European Union (EU) AML/CFT reforms that authorised the launch in the EU of an Anti Money Laundering Authority (AMLA), approved by the EU Council of Ministers and the European Parliament in May (2024).…