Ransomware attacks are affecting millions of organisations worldwide. What is the correct response when someone breaks into your organisation’s IT system, encrypts critically important data and demands a ransomware payment in exchange for an encryption key? Besides the obvious information security and business continuity concerns, there are other important aspects to consider, such as the…
Update: On 6 June, after two months of negotiations, Bulgarian parliament approved a coalition government led by the prime minister Nikolai Denkov. The government was supported by the two largest parliamentary factions, the anti-communist and socially conservative GERB and the alliance of the right-of-centre We Continue the Change party (WCC) and the liberal Democratic Bulgaria (DB). Under the coalition agreement, Denkov, from the WCC-DB, will…
On 25 February 2023, the EU marked the one-year anniversary of Russia’s full-scale invasion of Ukraine by announcing its tenth package of sanctions against Russia. The new package added some 121 individuals and entities to the EU’s sanctions list, bringing the total under either an asset freeze or travel ban to 1,473 individuals and 205…
Scandal engulfed one of India’s largest conglomerates at the end of January, when a report by a US-based short seller alleged massive corporate fraud. As well as sending shares in Adani Group companies tumbling and heightening fears of wider economic contagion, the report ignited a political scandal, with opposition parties highlighting Prime Minister Narendra Modi’s…
United Russia’s victory in the Russian parliamentary election in September 2021 is unlikely to mark a departure from the strained relationship of EU and US with Russia and to improve the prospects for doing international business in the country. Only the more robust investors are willing to accept the risks linked to operating in the…
Relations between the US and Russia are widely expected to continue their downward trajectory when President Biden enters office on 20th January. Biden arrives in office in very different circumstances from previous incumbents. In most recent cases, US presidents have started their terms by seeking better relations with Russia. This time, however, there are no illusions…
The domestic power-struggle in Venezuela between the acting regime leader, Nicolás Maduro, and opposition leader, Juan Guaidó, claiming presidency and calling for a free elections, is exacerbated by the geopolitical rivalry between Russia, supporting Maduro, and the US, supporting Guaidó, over the country’s fate.
The 5th EU Anti-Money Laundering Directive, in force as of 11 July 2018, includes amendments to the 4th AML Directive, among them improvements in the assessment of high-risk third countries. Moreover, the EU Commission has recently published a relevant methodology for identifying such countries with strategic deficiencies in combating money laundering and terrorist financing.
Cryptocurrencies are seen as bringing innovation to the payments-services sector; furthering financial inclusion; and facilitating greater efficiency in cross-border transactions. However, as with other financial products and services, cryptocurrencies are also exposed to financial crime risks. The following article provides some background in relation to cryptocurrencies in general, and some insights into ongoing regulatory approaches and discussions in Europe.
