Author: Udenna Orji
Chris Bourne Money laundering red flags include unusual transactions, unexplained funds, high-value cash, rapid fund transfers, PEP involvement, inconsistent documentation, and refusal to provide information. These require further investigation and potential reporting to authorities. Money laundering is a serious financial crime that involves disguising the proceeds of illegal activities as legitimate funds. In the UK, there are several red flags that financial institutions and authorities look for to detect potential money laundering activities. Some of these red flags include: Transactions that are inconsistent with a customer’s known income or business activity can be a significant red flag. This includes unusually large…
Devendra Singh Parmar As the financial services industry continues to undergo rapid digital transformation, the landscape of banking is set to look dramatically different by 2030. One of the most pivotal forces shaping this evolution is the emergence of autonomous AI agents—intelligent systems capable of operating independently to solve complex problems, adapt to new environments, and make decisions in real time. In the domain of fraud and risk management, these agents are poised to be game-changers, enabling banks to transition from reactive detection to proactive, intelligent prevention strategies. What Are Autonomous AI Agents? Autonomous AI agents are intelligent software systems that can…
Companies can sue governments for closing oilfields and mines – and the risk of huge damages is already stopping countries from passing green laws, ministers say In the mountains of Transylvania, a Canadian company makes plans for a vast gold and silver mine. The proposal – which involves razing four mountain tops – sparks a national outcry, and the Romanian government pulls its support. After protests from local communities, the Italian government bans drilling for oil within 12 miles of its shoreline. A UK fossil fuel firm has to dismantle its oilfield. Beneath the grey whales and sea turtles of Mexico’s gulf,…
A report by the World Resources Institute shows that rapidly expanding mining operations are causing widespread destruction of tropical primary rainforests and protected areas, raising carbon emissions and displacing Indigenous communities Whether it’s digging for metals and minerals for cellphones and electric vehicles or coal for power generation, mining around the world has skyrocketed since 2000, causing widespread destruction of tropical forests, degrading the environment and displacing Indigenous and local communities, the World Resources Institute says in a report released Wednesday. The analysis highlighted that from 2001 to 2020, the world lost nearly 1.4 million hectares (3,459,475 acres) of trees due to…
‘Masculine’ money-making strategies influenced by personal shopping habits, research shows By Lucy Burton “Masculine” investors do worse than women who take a “feminine” approach, researchers have found. A study from Mannheim Business School in Germany found that both male and female investors have a tendency to back companies that match their shopping habits. It leads to differences in typical investment baskets for men and women, with male money managers more likely to invest in car companies and women favouring healthcare, among others. However, male investors rely “too much” on their personal shopping preferences when it comes to deciding which companies to…
A senior economist at the Centre for Economic Strategy in Kyiv, Volodymyr Landa, has said the minerals cooperation agreement between Ukraine and the United States (US) has undergone “Multiple iterations” as negotiations between both countries continue. Speaking with reporters, Landa noted the lack of clarity surrounding the final terms of the deal, remarking, “It’s hard to say what’s inside.” The agreement comes as Ukrainian President Volodymyr Zelenskyy seeks to strengthen ties with the U.S. administration under President Donald Trump. However, tensions have emerged over the financial arrangements tied to American military assistance. While Washington has reportedly urged Kyiv to allocate revenue from the…
The Bank for International Settlements (BIS) has issued a fresh warning about the risks posed by the growing adoption of cryptocurrencies and decentralized finance (DeFi), noting their potential to disrupt traditional finance and deepen economic inequality. In a report released on April 15, the BIS emphasized that the expansion of crypto markets and the influx of capital into DeFi have “reached a critical mass,” adding that investor protection has become a “significant concern for regulators.” With the crypto sector’s size now impossible to ignore, the BIS cautioned that authorities should be paying attention to the “stability of crypto over and…
Despite repeated warnings from financial regulators and industry experts, Ponzi schemes continue to thrive in Nigeria. Experts say the failure to learn from previous scams, combined with the inability or unwillingness of relevant authorities to proactively identify and clamp down on these entities, created the fertile ground upon which CBEX flourished. Allure of quick returns According to Vice Chairman of Highcap Securities, David Adonri, the key driver behind the persistent attraction to Ponzi schemes is greed, deeply rooted in a get-rich-quick mentality. “A lot of Nigerians want to reap where they did not sow,” he said. “They are lured in…