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A US watchdog has again called for stronger cooperation between government agencies to combat trade-based money laundering, which it says is a “primary mechanism” for criminals to launder dirty money. The US Government Accountability Office (GAO), which conducts government audits at the request of elected officials, says in a report published on December 13 that ...
While global trade volumes have bounced back from the doldrums of last year, 2021 remained a turbulent period for trade and trade finance. Here we have rounded up our most popular articles over the past 12 months, which on the whole reflect the progress made, and the challenges faced by the industry, during this time. ...
SCOR Specialty Insurance has promoted Henry Mumme-Young to global line head of political and credit risk, effective immediately. He replaces Kade Spears, who has left the company. Mumme-Young joined the Channel Syndicate at Lloyd’s of London, part of SCOR’s specialty insurance platform, in 2014 and most recently served as senior underwriter and deputy in SCOR’s ...
Africa Merchant Capital, a boutique private bank, has demerged its trade finance arm following an equity buyout by Zebu Investment Partners (ZIP). The subsidiary, AMCTF, will be led by Anne-Marie Woolley, who has been named CEO. AMCTF is a specialist trade finance business that was founded by the bank in 2016 to provide secure and ...
Australian supply chain finance provider Marketlend is suing its insurer, the Bond & Credit Company (BCC), for A$1.4mn (US$1mn) after it allegedly failed to honour a policy when a Singapore commodities trader went bust. In a document filed in the Federal Court in Sydney on December 14, Marketlend says BCC failed to cover it for ...