Search Results for: Russia
10 results out of 2059 results found for 'Russia'.
EU/WTO REGULATORY ROUND UP – UKRAINE FOOD EXPORTS MAINTAIN EU MARKET ACCESS, BUT CONTROLS HELD IN RESERVE
As Russia continues its invasion of Ukraine, the European Parliament has approved extending temporary trade access to the European Union (EU) for Ukraine food and drink exports. However, conscious of EU concerns about competition from these supplies, a new regulation allows the EU executive European Commission to impose controls when Ukraine exports disrupt markets of one or more EU member states.…
EU’S FUTURE FRANKFURT-BASED AMLA HAILED AS A GAME CHANGER’
The European Union’s (EU) new Anti-Money Laundering Authority (AMLA) is being hailed as a ‘game changer’ in the battle against dirty money by Europe’s lawmakers, even before it officially starts work at its Frankfurt base on July 1, 2025. But it will be a long road to get to full cruising speed, as planned for 2028, when AMLA is projected to directly supervise Europe’s 40 most ML-risky banks and other financial institutions that operate in six or more EU countries.…
CRYPTO SCAMS DECLINE, BUT FRAUDSTERS CONTINUE TO INNOVATE
Cryptocurrency scams are a serious threat and have plenty of room to grow in scale, yet the Association of Certified Fraud Examiners (ACFE) has warned in its latest biennial 2024 ‘Report to the Nations’ on occupational fraud that the proportion of swindles undertaken in the crypto sector has been shrinking.…
CRYPTO SCAMS DECLINE, BUT FRAUDSTERS CONTINUE TO INNOVATE
Cryptocurrency scams are a serious threat and have plenty of room to grow in scale, yet the Association of Certified Fraud Examiners (ACFE) has warned in its latest biennial 2024 ‘Report to the Nations’ on occupational fraud that the proportion of swindles undertaken in the crypto sector has been shrinking.…
RUSSIAN METAL IMPORT BANS TIGHTENS ALUMINIUM MARKETS, BUT SANCTIONS EXPECTED TO GROW
The global metal packaging industry is assessing the potential impact on aluminium supplies of US, European Union (EU) and British sanctions against imports of Russian aluminium, which continue to be tightened as Moscow intensifies its invasion of Ukraine.
These sanctions are more serious for Russia and its metal producers than they look, writes Russian economist Yevgeny Kogan on his Telegram channel.…
FINCEN SHOWS HOW IRAN FINDS MID EAST MILITANT ALLIES
USA FIU the Financial Crimes Enforcement Network (FinCEN) has released detailed guidance on how Iran funds Middle East allies labelled as terror groups by Washington, such as Hamas, Hezbollah, Palestinian Islamic Jihad, Yemen’s Houthis and militias in Iraq and Syria.
Stressing that the Iranian government funnels funding through the Islamic Revolutionary Guard Corps (IRGC), FinCEN said revenues are generated by sales of commodities, especially oil, to countries eschewing western sanctions against Iran, such as China, which bought 1.3 million barrels a day during 2023.…
CENTRAL BANK DIGITAL CURRENCIES ARE COMING – AND PRIVACY CONCERNS MAY UNDERMINE AML/CFT
International organisations and academics are warning central banks to take AML/CFT into account as they develop central bank digital currencies (CBDC), although pressures to guarantee privacy might undermine such controls. According to 2023 research from the central banks’ central bank, the Basel, Switzerland-based Bank for International Settlements (BIS), 93% of central banks are now exploring or developing CBDCs (1).…
GLOBAL FOOTWEAR SECTOR SPIES OPTIMISTIC OUTLOOK AFTER FIGHTING INFLATION AND LOGISTICS CHALLENGES
While the global footwear market is always buoyed by the basic human need for shoes, the supply chain difficulties caused by Covid-19 and Russia’s invasion of Ukraine, and the recent wave of inflation, has challenged the industry, especially high-end brands.
With inflation abating, manufacturers and retailers are starting to relax, however, with market researchers bullish about the footwear industry’s medium-term prospects.…
ZIMBABWE’S ANTI-MONEY LAUNDERING REGIME ROBUST BUT INEFFECTIVE – FIU DIRECTOR ADMITS A YEAR AFTER GOLD MAFIA EXPOSE’
As the country reels from an alleged gold smuggling scandal, Zimbabwe’s AML/CFT performance has shown how technical compliance with FATF rules is not enough, its Financial Intelligence Unit (FIU) director general has told MLB: “It is one thing to have a compliant legal framework and it is another thing to make sure the regime is being used effectively to fight money laundering,” Oliver Chiperesa told MLB.…
EU MINISTERS FORMALLY APPROVE LAW CRIMINALISING SANCTIONS EVASION
The European Union (EU) Council of Ministers has given its final approval to an EU directive insisting that EU member states criminalise and impose dissuasive punishments on the deliberate evasion of sanctions (1).
This law has been drafted amidst rising concern that Russia and Russians are effectively bypassing the slew of sanctions ordered following their country’s ongoing full-scale invasion of Ukraine (2).…