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While the increasingly complex financial world’s fintech and cryptocurrency networks may boost liquidity and financial efficiency, it also complicates screening transactions for crime links. That includes the growing number of sanctions created by Russia’s ongoing invasion of Ukraine and Iranian support for terror groups.…

As jurisdictions worldwide prepare for an imminent assessment by FATF or regional FATF-style bodies under a fifth round of scheduled mutual evaluation reports (MER), their governments will be parsing how these will differ from the fourth round of MERs

In short, according to a note from the Luxembourg office of international law firm Allen & Overy, FATF’s latest MER guidance, released in February (2024) (1), noted that MER5s will take six years, rather than earlier rounds’ average of 10.…

A landmark ruling in a Swiss court has clawed back the more than USD1.8 billion two dual nationals defrauded from the fraud and graft-wracked Malaysian investment fund, 1 Malaysia Development Berhad (1MDB). 

The Swiss Federal Criminal Court, in Bellinzona, southern Switzerland, August 28 convicted two former PetroSaudi executives over their role in embezzling money from 1MDB for over six years starting in 2009.…

The Chinese government’s renewed efforts to pump prime its domestic battery electric vehicle markets (BEV) might boost already burgeoning sales in the short term, but it may herald a future flatlining of growth, a worrying sign for Chinese OEMs, industry experts have warned Wards Auto.…

Since the Hamas-led attack on Israel on 7 October 2023, and the ensuing Israeli war on Gaza, the Palestinian banking sector has been caught in the crosshairs. Meanwhile, Hamas continues to get funding as the war enters its 10th month.

The Palestinian banking sector, overseen by the Palestinian Authority (PA), has been under heightened pressure from the Israeli government following the Hamas-led attacks.…

Universities and higher education institutions (HEIs) worldwide are being encouraged to focus on achieving global sustainability initiatives with the help of a new United Nations (UN)-sponsored reporting and measurement resource.

On July 15 (2024), UNESCO (the United Nations Educational, Scientific and Cultural Organisation) unveiled its Sustainability Evaluation Tool for Higher Education Institutions (SET4HEI).…

The role of corporate treasury departments amid global and regional volatility, technological change, and sustainability goals will take centre stage at the upcoming ACT Middle East summit in September (1).

This region continues to grapple with tough macroeconomic challenges of sluggish growth and poor productivity, but also more intense regional political concerns, such as the ongoing war in Gaza between Israel and Hamas.…

A Financial Action Task Force (FATF) paper on gatekeeper professions and corruption has highlighted how some major countries are dragging their feet in implementing AML/CFT controls. Concerns focus on lawyers/notaries, accountants, real estate agents and company/trust service sectors. Indeed, jurisdictions delivering 50.89% of global GDP comply with half or fewer of FATF requirements for squeezing dirty money from these professions, said its report ‘Horizontal Review of Gatekeepers’ Technical Compliance Related to Corruption’ (1).…

Türkiye is one of the top 10 milk producers worldwide, according to the Turkish National Dairy Council (Ulusal Süt Konseyi – USK) but the country’s dairy sector has been impacted over the past two years by high inflation and the depreciation of the Turkish lira (1).…