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The International Ethics Standards Board for Accountants (IESBA) has approved two significant sets of standards designed to underpin public trust in sustainability reporting and assurance. IESBA approved the International Ethics Standards for Sustainability Assurance (IESSA) and revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards).…

USA government human rights investigators and human trafficking victims in Myanmar have told Fraud Intelligence of how a lawless town on the border with Thailand has become a forced labour hub, where kidnap victims must take part in phone or cyber scams, or face violence, torture or even death.…

Australia has long been a laggard in AML/CFT, despite being a leading developed democracy – but its current Labor government has finally bitten the bullet on reform.

In September, it proposed an Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024 (1).…

Legal professions worldwide continue to push against being integrated within comprehensive AML/CFT/CFP systems, with their firms arguing that conducting CDD/KYC and reporting STRs undermines client confidentiality, a cornerstone of practising law.

FATF’s recommendations allow governments significant flexibility on when lawyers should report suspicious transactions, contrasting with tougher requirements for bankers, payment service companies, and non-financial professions such as accountants.…

The new British Labour Government is planning to tackle the GBP10 billion (USD13 billion) that the UK loses annually to social security fraud and error through a ‘Fraud, Error and Debt Bill’. If passed, it would give the UK’s department for work and pensions (DWP) beefed-up powers to catch fraudsters and recover money lost through fraud.…

China’s paint and coatings companies are struggling to make headway in a tough domestic real estate market, even though medium-term forecasts remain positive. In the first six months of 2024, the value of real estate sales fell by 26.4% year-on-year. The average prices of deals struck dropped 7%, according to the China Real Estate Information Corp which bases its data on the country’s 100 largest real estate developers.…

Autonomous Chinese gambling centre Macao has been responding to pressure from Beijing to tighten controls on gaming, amidst ongoing concerns that the special administrative region (SAR) is a hub for dirty money, washing through its casinos.

The Macanese government expects its tiny peninsular and associated islands of 33.3 square kilometres to generate gross gaming revenues of Macao Patacas MOP216 billion (USD27 billion) in 2024, up from MOP183.1billion (USD22.8 billion), recovering from a Covid-19 induced slump (1).…

Profiling fraudsters can hone anti-fraud responses, helping investigators short-list likely suspects for detailed evaluation – and with profiling research and experience expanding, the effectiveness of such approaches is sharpening.

Forensic accountant and fraud examiner Dave Oswald, who runs Canadian anti-fraud consultancy Forensic Restitution (1), said: “Fraudster profiling can provide valuable insights into the minds of those who commit these crimes, helping law enforcement agencies and organizations to prevent, detect, and respond to fraudulent activity.”…

There are undoubtedly vast amounts of data available through cryptocurrency blockchains for AML/CFT/CFP compliance, supervision and law enforcement, making increasingly available and sophisticated assessment tools more valuable.

Yong Li, Anti‑Money Laundering Advisor, for Canada-based consultancy The AMLShop, told MLB of the available crypto-ledger data: “Up to the end of last month, for Bitcoin it’s 596 gigabytes [GB] and for the Ethereum it is about 1,100 GB.…

Women today lead half of the Netherlands’ 14 senior research universities, the first time this has happened, a new report issued as the country starts its new academic year has claimed.

A Dutch News report (1) stressed how last year Nijmegen’s Radboud University appointed José Sanders, professor of communication, as its first rector magnificus, equivalent to chancellor https://www.ru.nl/en/about-us/news/jose-sanders-appointed-new-rector-of-radboud-university-nijmegen…