Search Results for: saudi arabia⊂mit=Search

Implementing international sanctions is never easy, but the sanctions regime on Iran is highly complex, buffeted by shifting diplomatic stances. With its Security Council ally Russia relying on Iranian military and technology supplies for it to pursue its invasion of Ukraine, time-limited UN restrictions on Iran’s nuclear programme officially lapsed on October 18.…

The ability of computer algorithms to identify outlier behaviour and indicate potential fraud is becoming stronger as IT specialists, mathematicians and AI develop new applications and techniques, offering anti-fraud professionals better tools to unearth and prosecute financial crime.

A McKinsey report from November 2022 (1) noted how companies are using machine-learning algorithms to assess data to maximise fraud detection through reducing false positives and missed fraud.…

A UK Online Safety Act received Royal Assent October 26, in what consumer association Which? described (1) as “a major step forward in the fight back against fraud”. The new law (2) will authorise penalties for social media companies and search engines who fail to prevent their platforms being used for fraud – from false claims, profiles and promotions to misleading statements and counterfeiting, whether through user generated content or paid for advertising. …

THE EUROPEAN Union (EU)’s proposed new intellectual property (IP) rules to safeguard inventions (https://www.consilium.europa.eu/en/press/press-releases/2023/09/25/intellectual-property-council-adopts-two-positions-on-designs-protection-legislation/) will cut red tape and boost technology transfer, university research experts have told University World News (UWN). They praise the increased opportunity to protect new products.…

UK recession expected by the end of the year

The way the data is evolving there is a 60% chance the UK will be in recession by the end of 2023, or certainly by the early stages of 2024, according to Simon Ballard, Chief Economist, First Abu Dhabi Bank.…

Anti-money laundering fines worldwide are expanding fast, say researchers, but assessments of whether this reduces and deters money laundering or just feed government coffers are not yet conclusive. According to Ireland-based international compliance firm Fenergo, AML/CFT fines worldwide – levied on organisations failing to operate legally mandated AML/CFT controls – increased 52% year-on-year in 2022, totalling USD4.1 billion, compared to USD2.7 billion in 2021.…

The Australian Federal Police (AFP) has led a major operation to take down a Chinese-organised ML syndicate, which the AFP alleges laundered Australian dollars AUD228.8 million (USD145 million) between 2020 and 2023. It had been hiding in plain sight within a Chinese currency exchange, alleges the AFP.…

The Morocco textile and clothing industry is forging ahead with expansion and modernisation plans despite the September 8 earthquake that killed 2,900 people and could cause up to USD10 billion’s worth of damage, according to the US Geological Survey (USGS).…

Saudi Arabia’s universities are ramping up their efforts to boost their sustainability working within an unforgiving status quo of fossil fuel reliance, high energy and water consumption plus rising greenhouse gas (GHG) emissions.

Public and private universities have in recent years started addressing these challenges by fostering sustainability practices on their campuses and influencing Saudi society to become environmentally conscious. …