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When Saif al-Ashqar was tasked with rebuilding the library of the University of Mosul in Iraq, he was given a free rein – but no cash. Islamic State, which occupied the city between 2014 and 2017, had burned the prestigious library to the ground, destroying what remained of its vast collection of books, historic maps and ancient manuscripts.…

Growing online sales of tobacco products within the European Union (EU) are boosting industry revenues, despite increasing sales restrictions, including some outright bans on internet purchases of tobacco products. The German market and consumer data platform Statista foresees 2.5% of the total USD170 billion [EUR160 million] sales generated by the tobacco sector – all products – within 2023 will come from online sales, meaning USD4.25 billion [EUR4 billion].…

The international clothing and textile sector will have to take account of the first global sustainability reporting standards designed to become compulsory in many countries worldwide from January 1, 2024. These will be published by June, having been approved in February by the International Sustainability Standards Board (ISSB).…

As the first anniversary of Russia’s invasion of Ukraine passes – with 8,173 civilians killed as of March 5 (UN figures), the European Union (EU) has been debating dealing with a boom in Ukrainian food imports. While Ukraine food exporters have struggled to ship output via maritime ports, because of Russian naval action, the EU has strengthened road and rail land connections, plus riverine Danube ports.…

Isabel dos Santos, once known as the richest women in Africa, and daughter of Angola’s former President. is facing a tightening noose of legal action alleging corruption and embezzlement. Keith Nuthall and Andreia Nogueira report.

The Angola government has ramped up its efforts to arrest Isabel dos Santos, and confiscate many of her assets, following the death of her father, the former President of Angola, José Eduardo dos Santos, last July (2022).…

The Financial Action Task Force (FATF) has suspended Russia from membership because of its continuing military invasion of Ukraine – an unprovoked attack that the UN said by February 20 had killed 8,006 civilians and injured 13,287.

The global AML body’s plenary today (Feb 24) acted following “reports of arms trade between the Russian Federation and United Nations sanctioned jurisdictions, and malicious cyber-activities emanating from Russia”.…

Once a stronghold of banking secrecy and a haven for undeclared cash-carrying Italians making deposits in a local micro-state, the Republic of San Marino, the world’s oldest republic (founded in the year 301CE), has been working to repair its AML/CFT reputation.…

Luxembourg’s strength as a financial sector has brought the world’s only sovereign grand duchy great wealth (USD133,000 per head in 2021, said the World Bank), but it has also generated scrutiny on how it monitors investors, companies and bank depositors for AML exposure.…

Popular culture has long considered Monaco the perfect ‘sunny place for shady people’, as per the Lawrence Rothman song, and judging by the latest Moneyval assessment of this Mediterranean principality, this characterisation holds some truth regarding AML/CFT.

The European FATF-style body said in a report issued in January (2023) that Monaco’s AML/CFT effectiveness was low on supervision, investigation and prosecution.…