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The Kingdom of Saudi Arabia and the United Arab Emirates (UAE) are political and economic heavy-weights in the Middle East, but while they have much in common, their anti-money laundering/combating the financing of terrorism (AML/CFT) regimes and the risks they face significantly differ, primarily due to the UAE’s greater exposure to the international financial system.…

ARTIFICIAL intelligence (AI) maybe the focus of hype in anti-fraud circles, but specialists insist that as AI systems are refined, they will create effective tools for financial institutions, governments and large companies.

Sundeep Tengur, London-based banking fraud and financial crime specialist within the global fraud and security practice of US-headquartered analytics software producers SAS Institute Inc, noted in a blog on the Fintech Extra site last April last year that the financial services industry has witnessed “considerable hype” around AI.…

A TECHNOLOGY entwined with fossil fuels that, by the of 2018, boasted 43 large-scale facilities, (18 in commercial operation, five in construction and 20 in development), and which processed almost 40 million tonnes per annum (mtpa) of CO2, is clearly more than a passing fad.…

EMBATTLED Johnson & Johnson (J&J) has launched appeal proceedings against a mammoth USD4.69 billion judgement as it fights on to salvage its reputation amid increasing claims its Baby Powder causes cancer.

Dubbed by one attorney as the biggest public health scandal after tobacco, the American personal care product giant is currently fending off almost 12,000 other lawsuits.…

MANUFACTURERS and users of chemicals made from minerals, and chemical mineral processing agents within the European Union (EU), will from January 2020 have to check whether the chemicals they use contain nanoparticles. If they do, they will have to assess their safety and report the results to the European Chemicals Agency (ECHA).…

EUROPEAN Union (EU) textile finishers and their suppliers will from January 2020 have to check whether the chemicals they use contain nanoparticles, and if they do, assess their safety and report the results to the European Chemicals Agency (ECHA). This follows the release of a new EU regulation on nanoforms amending EU chemical control system REACH which will apply to all current REACH registered chemicals and any subject to new registration applications.…

BLOCKCHAIN technology may be being examined hard by the anti-money laundering/combating the financing of terrorism (AML/CFT) sector, but AML/CFT experts warn against its swift widespread adoption, stressing that while regtech innovation is important, adopters must make sure it does not “compromise the safety and soundness of the financial eco system”.…

The conventional arms trade has a reputation for using side payment sweeteners to secure multi-million dollar deals. But despite allegations of corruption in numerous jurisdictions, the legitimate arms trade is not on the Financial Action Task Force’s (FATF) radar. Should it be?…

THE INTERNATIONAL Civil Aviation Organisation (ICAO) is working with European ATC organisation Eurocontrol to design a globally accessible repository of urgent messages and related situational data showing emergency services the location of a plane at risk of crashing. This system would, if the project is successful, come on line as a prototype by February 2020, and be operational by the January 2021 enforcement of a second tranche of air navigation reporting requirements, designed to prevent a recurrence of tragedies such as the disappearance of Malaysia Airlines MH370.…

With different forms of fraud skyrocketing, demand for surveillance is not only growing but becoming more diverse, with companies offering services ranging from old-fashioned stakeouts to high-tech detection. A Market Guide for Online Fraud Detection, released in January (2018) by research and advisory firm Gartner Inc, forecasts that the fraud detection and prevention marketplace is expected to grow significantly by 2022.…