Search Results for: World Trade Organisation

The Muslim world is extremely diverse culturally, so it is no surprise that colour cosmetics trends are many and varied. However, one clear universal trend is that Muslim women are on average becoming more knowledgeable about make-up, especially with internet influencers spreading advice on products and techniques.…

A campaign to boycott Indian products in Islamic countries because of anti-Muslim comments made by leaders of India’s ruling Bharatiya Janata Party (BJP) may have died down for now but given the continuing Hindu-Muslim tensions in India, the risk of future supply disruption remains, warn economists.…

Russia’s invasion of Ukraine – which as of June 10 had killed 4,339 civilians (UN figures) – sparked an unprecedented range of sanctions against Russia’s financial, business and political elite. But there is little evidence as of June – with the invasion entering its fourth month – of upset Russian oligarchs pressuring President Vladimir Putin to abandon his bloody invasion, because they had lost access to their yachts, mansions and bank accounts.…

The Covid-19 pandemic forced many AML/CFT practitioners to work remotely, forcing training away from the face-to-face learning that has been dominant in the past. But now, as the pandemic wanes, combining innovative remote AML/CFT learning practices developed during Covid-19 with longer established in-person training is under consideration.…

A spate of recent high-profile investigations into suspected money laundering through cryptocurrency and a failure to prevent it have drawn attention to the capacity of law enforcement to tackle AML/CFT activity in the crypto sphere.

In July 2021, the UK’s Metropolitan Police force in London said it had seized a record GBP180 million (USD219 million) worth of cryptocurrency linked to international money laundering.…

The creation crypto-currency units through the arcane process of ‘crypto-mining’ presents peripheral money laundering risks, during the initial validation of a crypto coin and where the transaction is mined. There could be a need for a new type of KYC – KYM, ‘Know Your Miner’.…

Gaps in the international regulation of cryptocurrency and virtual asset service providers (VASPs) could aid money laundering, even in countries where these financial instruments are highly regulated, according to United States President Joe Biden. He warned in a March 9 Executive Order (1) on ensuring the responsible development of crypto assets that there was a need for international cooperation on crypto regulation if the US were to control its virtual currency-linked ML risks.…

THE EUROPEAN Commission’s planned ‘Textile Transition Fund’ could be key to achieving a sustainable clothing and textile industry in Europe, Dirk Vantyghem, director general of the European Apparel and Textile Confederation (Euratex), has told Just Style.

He hoped it will enable the industry to fulfill the goals of the European Union [EU] Strategy for Sustainable and Circular Textiles (1), announced in March (2022).…

National risk assessments (NRAs) for money laundering and terrorist financing, required by the Financial Action Task Force (FATF) since 2012, are not comparable nor based on sound methodology, according to a new World Bank study (1) ‘National Assessments of Money Laundering Risks: Learning from Eight Advanced Countries’ NRAs’.…

Although China’s 13th Five-Year Development Outline for the Textile Industry (2016–2020) mandated sustainability improvements for China’s entire textile industry, the government’s efforts to improve the environmental performance of the country’s synthetic dye segment have gained visible momentum more recently, under the 2021-25 14th Five-Year plan.   …