What are defence offsets? – The defence industry is often seen as more prone to corruption than others primarily because of the secrecy surrounding military spending and national security. Such lack of transparency in a market estimated to be worth US $1.5 trillion in 2008 increases the risk of abuse. One area that receives little […]

Global Witness has written an open letter to Heads of State and Finance Ministers for G20 renews call for effective anti-money laundering framework – the open letter calls on the Financial Action Task force to report back on specific actions it has taken to help detect and deter the proceeds of corruption by prioritizing work […]

The volcanic eruption in Iceland has caused untold chaos to business in Europe and beyond, but there is guidance out there as to how to at least go some way to remedying circumstances. Marsh, the world’s leading insurance broker and risk adviser, is issuing business continuity, supply chain and insurance advice to organisations affected by […]

The 2010 – 2012 Business Plan sets out the Commission’s objectives together with an explanation of how they will be met. Included in the Business Plan are all known objectives at the time of writing. While many of these are likely to be completed during 2010, some will continue into 2011 and beyond. The Business […]

Anticipating a U.K. financial-services regulation that could require banks to record the mobile-phone conversations of their traders and sales personnel, British mobile operators are introducing services that allow corporate clients to record and retain communications on work-issued cellphones. Telecommunications giant Vodafone Group PLC on Thursday formally rolled out a recording service for clients in Western […]

The affairs of the Indian Premier League have become the subject of a government inquiry in the country amid parliamentary allegations of money-laundering through the competition. Transcripts of a debate in the Indian parliament’s lower house, the Lok Sabha, today show that Pranab Mukherjee, India’s finance minister, confirmed that an inquest into cricket’s richest competition […]

GFSC Consultation Paper on Amendments to Regulatory and AML/CFT Legislation – Interested parties are asked to provide comments in writing to the Policy and International Affairs Division of the Commission by the close of business on 21 May 2010. On-site inspection provisions in the Site Visits Ordinance and the insurance laws – The Site Visits […]

Ex-RBS boss jailed for fraud – Terrance Thackrah diverted commission meant for brokers. Former RBS Insurance exec Terrance Thackrah (58) has been jailed for six years for a £1.1m fraud that diverted commission payments to brokers into his own accounts, the Express reports. Thackrah bought a four-bedroomed detached villa with its own pool in northern […]