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The Paul Wolfowitz case strengthens the credibility of the World Bank

The Paul Wolfowitz case demonstrates that the Word Bank is actually willing to promote ethics and transparency.
The case does not weaken the credibility of the World Bank as members especially from Europe are taking their responsibilities.
In a world of communication it would have been a mistake to attempt to hide the situation of nepotism that does not comply with the speech against bribery.
A lesson and a warning for many professionals, especially in Luxembourg, that do not implement what they say and deny or hide even public and official dysfunctions.

Know more about the case (source : Financial Times)

08:15 Posted in General | Permalink | Comments (0)


Is the European commission actually willing to support the FIUs?

FIU.NET is a decentralised computer network designed to connect (EU) Financial Intelligence Units (FIUs) using modern technology and computers to (bilaterally) share financial intelligence information. FIU.NET encourages co-operation, and enables FIUs to exchange financial intelligence quickly, securely, and effectively. The main purpose of this increased co-operation is to enhance the fight against organised crime and the misuse of the financial system for the purpose of money laundering and terrorism financing.

Currently the body is paralysed as it is waiting for clarity about the future funding by the European Commission.

Know more

18:35 Posted in General | Permalink | Comments (0)


Laundering the Proceeds of VAT Carousel Fraud FATF Report Published

The report relatinf to laundering the Proceeds of VAT Carousel Fraud was published today. Il identifies the global impact of money laundering generated by the fraud and details the characteristics of the money laundering cycle from the proceeds of the fraud to investment into legitimate economy.

See press releaseSee report

19:50 Posted in General | Permalink | Comments (0)