Italian Customs Seize China-made Counterfeit Bearings

Following intelligence provided by the European Anti-Fraud Office (OLAF), Italian customs officers this week seized more than 4,000 counterfeit bearings originating from China. Authorities said installing such copies into machinery is dangerous.

UN: Terrorists, Criminals Spread Conspiracies About COVID-19

Terrorist and organized crime groups are spreading misinformation and conspiracy theories about the coronavirus pandemic in order to erode people’s trust in government or spread their ideology and gain more supporters, the UN warned in a report published this month.

Opioid Manufacturer Purdue Pleads Guilty to Felony Offences

The now-bankrupt U.S. opioid manufacturer Purdue Pharma L.P. pleaded guilty on Tuesday to misleading the government about the sales of one of its drugs that played a role in the country’s opioid crisis. The confession ended the investigation that led to a multi-billion dollar settlement between the company and the Department of Justice (DOJ).

OSCE Slams Bosnia’s Judiciary for Failure to Fight Graft

The judiciary in Bosnia and Herzegovina is getting worse and the conviction rate of high corruption cases is seeing a dramatic decline compared to previous years, the Organization for Security and Cooperation in Europe (OSCE) warned on Monday in Sarajevo.

G20 Leaders Agree to Follow FATF’s Anti-Money Laundering Measures

Leaders of the G20 reiterated their commitment to following anti-money laundering policy measures recommended by the Financial Action Task Force (FATF), which stressed their importance amidst the COVID-19 pandemic at a summit over the weekend hosted by the Saudi presidency. 

Over $427 Billion is Lost To Tax Havens Every Year

As governments around the globe face budgetary pressures due to the COVID-19 public health crisis, the urgency to crack down on tax havens – responsible for an estimated loss of over US$ 427 billion each year – has become even more crucial, experts said in response to new findings.