Search Results for: World Trade Organisation

Bulk cash smuggling remains a favoured way for criminals to move dirty money, despite the increase in electronic means to transfer the proceeds of crime, such as new cryptocurrency services.

In its most recent 2020 National Drug Threat Assessment, the US Drug Enforcement Agency (DEA) said in 2019, there were more than 3,000 bulk currency seizures in the United States, with more than USD368 million taken, 62% up from the USD227 million seized in 2018 (although that followed eight years when the value of bulk cash seizures fell).…

The size of the global non-fungible token (NFT) market has exploded since the beginning of 2021 and, as ever with the growth of a novel asset, fraudsters have been creative in exploiting its sale and purchase to make dishonest gains. One benefit for fraudsters seeking to attack immature markets is unstable valuations, in this case of unique digital assets consisting of data stored in a blockchain.…

Sri Lanka’s clothing export sector is facing economic and political chaos in its island country as its President Gotabaya Rajapaksa imposed a state of emergency on Friday (April 6) amidst spiralling protests and foreign currency reserves collapsing to below USD50 million.…

With financial fraud booming, the market for forensic accounting – uncovering financial crime through the study of accounting data, bank records and associated company data – is also growing fast.

A report from US and UK-based Market Research Future (MRFR) issued last October (2021) predicted that the global forensic accounting market would be worth annual receipts of USD8.85 billion by 2025, growing at a compound annual growth rate (CAGR) of 8.2%.…

The European Parliament has approved giving Europol more powers, backing a European Union (EU) regulation that would authorise the police agency to pursue its own research and innovation projects, process large datasets for intelligence, and help national authorities screen foreign direct investment in security-related cases.…

The European Parliament has approved scrapping food and drink duties on imports into the European Union (EU) from Ukraine to support its economy as the country battles for independence against the continuing Russian invasion. With 3,811 civilians confirmed killed in the three-month-long attack by May 19, according to UN figures, the EU has ramped up its support for Ukraine.…

While Europe is abuzz with policy discussions about extending the life of existing nuclear power plants, amidst growing concern about the need to wean the continent from dependence on Russian fossil fuels, this electricity source has continued to enjoy support in Asia.…

After a strategic review of the work of the Financial Action Task Force (FATF), beginning in June 2019, AML/CFT observers were wondering if major change would follow when member states concluded how they would respond following the body’s April (2022) ministerial meeting.…

 Chinese consumers are displaying an increasingly keen interest in sustainable fashion, being aware from personal experience that pollution can have a disastrous impact not only on the overall environment but also on their health. A Chinese University of Hong Kong report in 2018, for instance, concluded air pollution caused an average 1.1 million premature deaths in China.…

Egypt is being asked to roll back policies aimed at restricting clothing and textile imports, facing a tough diplomatic response from the European Union (EU), which has launched a disputes case at the World Trade Organisation (WTO).

In 2016, Egypt introduced a decree (1) requiring importers of goods, including textiles, clothing and furnishing fabrics, to be registered with the General Organization for Export and Import Control (GOEIC).…