Buy a passport and arguably you’re well on the way to washing out any previous reputational stains. The European Commission is pushing to end the practice, with action against Cyprus and Malta that could end up in court, but Caribbean jurisdictions remain keen on the revenue stream. Michael Kosmides, Brenda Dionisi, Gemma Handy and Keith Nuthall report.
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Virtual currencies pose a serious money laundering risk as long as they can be exchanged anonymously. Jurisdictions and the Financial Action Task Force, meanwhile, are working on perimeter controls to force disclosure of wallet/account-holders, as well as record-keeping and reporting requirements, just as exist for traditional money. Carol Van Cleef, CEO of cryptocurrency and blockchain consultancy, the Luminous Group, and a practising lawyer, spoke to Michael Kosmides.
The global art trade’s exposure to abuse by money launderers is to come under scrutiny as European Union (EU) countries start adopting the Fifth EU Money Laundering Directive (EU 2018/843 – 5MLD), which brings dealing in cultural artefacts under AML regulation.
Are biohacking and implanted technologies the new frontier in cyber fraud? That was the question addressed at an event organised by the Fraud Advisory Panel, an independent cross-border organisation that fights fraud, on 18 October, at Chartered Accountants’ Hall in London’s Moorgate.
The event put some of the opportunities and risks linked with these developing technologies under the spotlight and provided a glimpse of what the future might hold.
The attack surface of organisations is expanding with their growing connectivity as hackers seek to exploit vulnerabilities in applications and devices from internet-enabled door controllers to vending machines. Ken Munro, a security researcher with Pen Test Partners, tells Michael Kosmides there are some basic controls that will ameliorate the risk.
The economic crisis, anti-smoking legislation, increased product taxation and new tax regimes for producers are taking their toll on the Greek manufactured tobacco and leaf sectors. The industry is rallying against this series of setbacks, reports Michael Kosmides from Athens.
The United Kingdom’s scheduled departure from the European Union on 29 March 2019 is fast approaching. Committed to implement EU law during a transition period, which would include the Fifth ML Directive, how is the erstwhile member state likely to shape AML/CFT as it strikes out on a new path? John Binns of BCL Solicitors LLP in London considers possible future scenarios with Michael Kosmides.
Chipita coy over 'new Slovakia plant' claims | Food...
INTERACTION delivers action points for faster turnarounds
by Michael Kosmides, Athens for IHS Jane's Airport Review
As Europe at last seems to be stepping out of its long recession, the renewables sector is emerging stronger, despite its reliance on government subsidies. Even in crisis-hit Greece, it was a renewable energy company that provided the Athens Stock Exchange with its first IPO since the debt crisis began in 2009.
Nadie se atreve a predecir el resultado del referendo de Grecia y son muchos los factores influirán en la decisión. ¿Podría estar la clave en un pasado de resistencia que es una de las claves de su identidad nacional?...
Hercules may have succeeded in cleaning the Augean stables but the mythic hero would surely have shaken his head at the state of the Greek parliament, labouring to implement austerity measures against a backdrop of corrosive corruption and widespread tax evasion.