Search Results for: Russian

The Spanish can market and industry, which has developed an international reputation for its dominant fish canning sector, is increasingly innovative, driven by contemporary trends in its beverage sector, with sales of canned water and wine joining a promising market which has traditionally been based on beer.…

FinCEN (Financial Crimes Enforcement Network), the USA’s FIU, has been implementing detailed reforms to the country’s AML/CFT regulatory system that had been authorised by the country’s Anti-Money Laundering Act (AMLA). Passed by Congress in January 2021, overriding a veto of former President Donald Trump, a key plank of the reforms has been strengthening the USA’s previously anaemic efforts on UBO controls, which had been found wanting by past FATF MERs.…

Professional money launderers are exceedingly hard to catch, and – if convicted – are invariably replaced by other pros waiting in the wings. What more can be done to go after professional launderers?

Going by the estimates of the global scale of money laundering, and the low seizure rates – by some accounts 1%, by others (such as New Zealand AML specialist Ron Pol) less than 0.1% – efforts to curb the amounts of dirty money sloshing around the financial system are proving ineffective.…

Russian oligarchs are increasingly using cryptocurrency to evade sanctions, according to a leading cybercrime investigation firm whose blockchain analysts have probed the financial interests of recently targeted Russian nationals. Rich Sanders, co-founder of cybercrime investigations firm CipherBlade, spoke to the Organised Crime and Corruption Reporting Project (OCCRP) (1) on the increased use of cryptocurrency to circumvent sanctions as well as the techniques being used.…

In late-July, the European Investment Bank (EIB) agreed on the financing structure of NeuConnect, the first ever energy link connecting Germany and the United Kingdom, two of the largest electricity markets in Europe. The investment to build the interconnector will amount to EUR2.8 billion, with the EIB set to contribute up to EUR400 million for the financing construction of the section within the European Union (EU).…

The investment to build the interconnector will amount to EUR2.8 billion, with the EIB set to contribute up to EUR400 million for the financing construction of the section within the European Union (EU).  Other financiers include the UK Infrastructure Bank, which will focus on the stretch within UK maritime and land territory, and the Japan Bank for International Cooperation (JBIC).…

Ukraine’s textile and clothing manufacturing sector has been devastated by Russia’s invasion of its country from February 24, with an industry already suffering from economic weaknesses being hit hard by war.

The country’s light industry production, including textile, clothing, leather, and other materials, contracted by some 12.4% in 2019, according to Ukrlegprom, the Ukrainian Association of Enterprises of the Textile and Leather Industry) (1).…

The Russian textile sector has been struggling to cope with the international sanctions from the US, European Union (EU), UK, Japan and others and the disruption caused by the exit of international companies from Russia, following its invasion of Ukraine.

Russia’s GDP declined 4% in the second quarter and will shrink by 7.8% throughout 2022, predicts the ministry of economic development.…

Australia’s commitment to strengthen its anti-money laundering legislation is now an eight-year-old promise that has yet to be fulfilled. However, with a change in government in May 2022, with the Labor Party taking power after nine years of government by the right-centre Liberal-National Coalition, there is renewed hope that reform could finally be delivered.…

Europe’s food and drink industry is facing tough general and industry-focused inflation rates not witnessed since the global financial crisis and its related recession in 2008-9. These past food inflation rates dipped sharply and quickly as governments took control of this crisis – government spending was mopped up by bad debts rather than additional purchases.…