Search Results for: Russia

Ransomware site LockBit is claiming to be back in business less than a week after being brought down by an international swoop led by Britain’s National Crime Agency (NCA). Operation Cronos, which NCA director general, Graeme Biggar described as “a ground-breaking disruption of the world’s most harmful cybercrime group” in a February 20 statement (1), saw the US Federal Bureau of Investigation (FBI), law enforcement from eight other countries (2), plus the European Union police agency (Europol), seize Russia-linked LockBit’s bespoke data exfiltration tool, Stealbit, various leak sites, 34 servers, and 14,400 rogue email accounts as well as freeze over 200 cryptocurrency accounts.…

The European Union’s (EU) solar panel manufacturing industry is under intense pressure from a glut of cheap Chinese imports. It is calling for urgent action to prop up the domestic EU supply chain to prevent bankruptcies and relocation of panel makers to southeast Asia and the United States.…

The food industry is one of the most important and fastest growing branches of the Polish economy. With 60% of its land arable, Poland is the sixth largest agri-producer in the European Union (EU), according to the US Department of Agriculture (USDA).…

The Bulgarian dairy market and industry is struggling to survive and grow after the Covid-19 pandemic hit sales, followed by steep inflation and economic disruption caused by Russia’s invasion of Ukraine. But innovative companies are building a future by developing quality and new dairy products, making the most of Bulgaria’s special yoghurt and cheese traditions.…

The seizure of criminal proceeds has been a policy priority of the current Singaporean presidency of FATF (the Financial Action Task Force) (1). But while it and jurisdictions such as the European Union (EU) are developing reforms to boost asset recovery, more change is needed for this tactic to become a truly effective weapon against organised crime.…

Nearly two years since Russia invaded Ukraine, the global sunflower oil and seeds sector is still under pressure from supply-side shocks, restricting short-term growth of the sector. Despite an overall growth in global production of sunflower oilseeds, experts warn of difficult conditions for crushers and growers faced with decreased profitability and stiff Russian competition.…

AML experts are increasingly concerned that jurisdictions worldwide are still failing to act against key enablers of money laundering, such as lawyers, trust and company service providers (TCSPs), accountants, estate agents, casinos and luxury goods traders, who ask no questions or ignore money laundering (ML).…

A group of European Union (EU) member states is pressing for delays in approving lab-grown meat for sale in the EU, calling for a broad debate on a wide range of economic and social impacts. A common note to the EU Council of Ministers has been written by Austria, France and Italy, backed by the Czech Republic, Cyprus, Greece, Hungary, Luxembourg, Lithuania, Malta, Romania and Slovakia.…

Japanese paint manufacturers are facing challenging times – reducing costs where possible as the price of inputs rise, to reduce pressure on final product pricing as they deal with a local consumer market with declining consumption. Economic pressures caused by geo-political turbulence and the weak Japanese yen are both creating challenges, according to industry experts.…

The European Union (EU) has banned imports of diamonds from Russia, which amounted to EUR1.3 billion in 2022, because of the country’s ongoing invasion of Ukraine. Most of these precious stones are sold to Belgium, a key diamond trader – under EUR500,000 go to other EU member states, according to the European Commission (1).…