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Speaking at the event on Friday (Feb 17), Mark Carney, UN special envoy for climate action and finance, and former central bank governor for the UK and Canada, said of the baseline: “It’s critical. You need compatible information.”  

Mr Carney stressed ongoing discussions between the ISSB and major jurisdictions, such as the EU (European Union), the USA and Japan, about the need for regulatory harmony.…

INTRODUCTION 

ACCOUNTING used to be restricted to financially measurable matters of profit and loss; expenditure and revenue; taxes and subsidies; investment and liabilities. But the mathematical and statistical skills underpinning a solid set of books and filed accounts are today increasingly being used to measure the environmental and social sustainability of a product, input, production process and supply chain.…

Universities in Afghanistan, Iraq, Haiti, Madagascar, Nigeria and Yemen have been highlighted as institutions where academics or students were killed because of their beliefs or activism in the past academic year, though a report from campaign group Scholars at Risk (SAR).…

Higher education institutions are being warned they could be a target for money laundering, with fees being financed by the proceeds of crime, including corruption, which might also buy property, cars and other items for students.

The problem has been highlighted in a series of reports.…

A former DEA agent who laundered money undercover to attack the Medellín and Cali cartels has called for a root-and-branch reform of AML, so that its vast resources target the most suspicious transactions and the professional launderers who facilitate them. Speaking to MLB, Robert Mazur, who offered ML services to drug kingpins such as Pablo Escobar in the 1980s and 1990s to undermine their criminal networks, said that many laundering techniques used then are still in use today.…

The new National Security Law imposed by Beijing on Hong Kong last June (2020) (1) has added a new dimension to money laundering requirements in the special administrative region (SAR), as banks and other institutions now find themselves required to flag cash movements by figures deemed as ‘secessionist’ under the new law.…

Halal food exports from India are growing fast, according to a key Indian certification organisation, with domestic consumers among India’s 200 million Muslims also being increasingly demanding about halal standards.

According to Faiyaz Khan, the master technologist in food technology, of certification body the Jamait-Ulama-I-Hind Halal Trust, the volume of halal certified exported food products sold from India have grown by more than 50% over the past two years.…

South Africa has a lot to do to improve its regulatory oversight and more effectively tackle money laundering, which its FIU, the Financial Intelligence Centre, readily admits, as the country addresses shortcomings highlighted in its latest Financial Action Task Force (FATF) mutual evaluation report (MER).…

With its complex supply and distribution chain, the international knitwear sector fosters innovation, with commercial partners cross-fertilising technical and design ideas that span digitisation and mechanical smarts, as well as consumer-focused creativity.

One key area of innovation in the past year has been warp knitting – for instance by leading northern Italian warp seamless knitwear manufacturer Cifra (1), which last December (2020) launched an innovative and sustainable garment concept for women, spanning beachwear, athleisure bodywear and lingerie.…

The huge offshore finance leak unveiled yesterday (October 3) by the International Consortium of Investigative Journalists (ICIJ) and its media partners has highlighted the pressures AML reporters face in complying with increasingly tough beneficial ownership transparency laws.

Reports generated from 2.94 terabytes of data within 12 million documents leaked to the ICIJ from the confidential records of 14 offshore service providers have been analysed by 600 journalists from 150 media outlets in 117 countries.…