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The Financial Action Task Force (FATF), the global ​money laundering and terrorist financing watchdog, has said the misuse of informal banking networks, including hawala and other similar service ​providers (HOSSPs), which move payments through agents rather than ​regulated financial institutions, is a growing worldwide problem. FATF President Giles Thomson warned that sophisticated, commercially run networks now act as a “serious risk multiplier,” and make it easier for criminals to hide activities that harm people and communities around the world. FATF ​said in its report that professional service providers, including lawyers, accountants, auditors, consultants and real ​estate agents, are increasingly involved in facilitating the schemes.

 

Reuters

WION

OpenAI has said it would commit $1bn in subsidised access to its AI cybersecurity tools, training and technical ​support for organisations that protect critical services, amid growing concern over increasingly sophisticated AI-enabled cyberattacks. The "Daybreak for Frontline Defenders" programme will initially focus on US operators of essential ​services including water utilities, electric grid operators, and state and local ​governments. There are plans to soon expand to partner countries, OpenAI said. "In the ⁠coming months, AI-enabled cyber attacks will become far more widespread and sophisticated as models around ​the world become increasingly capable," the company said, adding: "Our goal ⁠is to use frontier AI to make the systems Americans depend on harder to attack and easier to repair."

 

The Next Web

The Register

Reuters

Belgian authorities have seized €65m ($76m) in a French probe into suspected ‌aggravated tax fraud and money laundering involving US-based consulting firm McKinsey, which said ​it was cooperating with French authorities and ⁠denied any wrongdoing. "We reaffirm that we are ​committed to complying with our tax obligations ​in France and in every country that we operate in. We remain fully focused on serving our clients ​in France and continue to do so ​to the highest professional standards," McKinsey said.

 

Financial Times

Reuters

Current and former leaders of the International Criminal Court (ICC) have expressed concern over increasing pressure from the Trump administration, which is attempting to isolate the court. “Efforts to isolate the Court diplomatically – whether by encouraging States Parties to withdraw from the Rome Statute or urging non-States Parties to join measures ⁠intended to weaken it – are aimed at eroding not only one institution, but confidence in the international legal order itself,” Paivi Kaukoranta, the current president of the ICC's Assembly of States Parties, and seven former presidents wrote in a piece that appeared on the Just Security law and policy journal's website. The court, they stressed, is not intended to replace national justice systems, and they rejected the argument that it necessarily undermines state sovereignty.

 

AlJazeera

Over 2,000 participants engaged in Shelter 2026, Europe's largest civil defence exercise since World War II, which was held last week in Kuopio, Finland. The drill tested responses to cyberattacks, infrastructure failures, and missile threats. Retired Army Colonel Asko Muhonen said: "Finland's preparedness depends not only on the armed forces but also on civilians accepting responsibility during a crisis." Finland's emergency preparedness guidance advises households to be ready to manage for at least 72 hours without outside assistance during disruptions to electricity, water or other services.

 

Helsinki Times

Lloyd’s of London anticipates losses of £1.4bn in the Gulf region from the US-Iran war - mostly from damage to infrastructure on land, precipitating claims under political violence and terrorism policies.

 

Financial Times

Airbus says it has reached a preliminary deal with four unions in Spain that points to a ‌potential breakthrough in a dispute that has seen weeks of strikes at the planemaker's local plants. The company said it had reached a "proposal of understanding" ​with unions UGT, ATP, CCOO and SIPA after a meeting mediated by the Industry Ministry to resolve the labour dispute over ​pay and conditions. Industry ​Minister Jordi Hereu said the agreement - which also addresses ​workplace ⁠issues including mobility, canteen services and flexibility - was "a magnificent step forward" and emblematic of the value of social dialogue in ​securing stability.

 

Reuters

The AIGI association, which represents firms involved in the ancillary chain of the troubled former ILVA steelworks in the southern Italian city of Taranto, has sent letters to trade unions regarding the procedure to make over 2,500 of their workers redundant. The decision follows a Milan court ruling that mandates the cessation of operations in the plant's "hot area" unless asbestos is removed and emissions are controlled.  AIGI President Nicola Convertino said the redundancies were a "necessary and inevitable step - a direct consequence of the sudden deadline set for the closure of the hot area as early as October. We have reached this point due to the total lack of reasonable planning that could have safeguarded our companies."

 

ANSA.it

Portugal's government has said it will continue discussions with Air France-KLM and Lufthansa regarding the privatisation of a controlling stake in TAP Air Portugal. Spokesman Antonio Leitao Amaro noted that the offers from both companies were closely matched, prompting the decision to seek further negotiations for better terms. The government aims to sell up to 49.9% of TAP, with staff retaining a 5% stake. The airline has around 7,700 employees.

 

France 24

The Bank of England is leveraging AI to enhance economic data accuracy amid growing concerns over official statistics: the Office for National Statistics has faced scrutiny amid declining survey response rates and recent data revisions. Huw Pill, the Bank's chief economist, noted that the pandemic highlighted the need for alternative data sources and said it has been using AI models "to draw more quantitative signals from the qualitative data." The Bank's strategy includes web scraping and agent conversations to inform policy decisions. He added: "Using web-scraping and other more modern technologies to build new sources of information for policy decisions lies at the heart of our strategy and we are making good progress in pursuit of this ambition."

 

The Daily Telegraph

France has announced a plan to release over €1bn in aid to support the country's agriculture sector after this summer's record heatwaves and ‌droughts devastated crops and pastures. "One billion euros represents a ⁠massive effort given the current budgetary context," Agriculture minister Annie ​Genevard told reporters, adding: "The immediate ‌goal ⁠is to manage the emergency." About 30,000 to 35,000 farms were in financial trouble, she said. France's main agricultural union, the FNSEA, said farmers had already ​suffered at least €10bn of lost production.

 

France 24

Reuters

The UK's Department for Business and Trade has named 658 employers that failed to pay the minimum wage correctly, after enforcement action recovered £4m for more than 27,000 workers. Employers were also issued £7m in penalties. Major companies on the list include B&Q, which underpaid 4,530 workers by £456,934, and Five Guys, which underpaid almost 3,700 employees by £54,642. Serco also underpaid 374 workers by £36,303. All three companies said the errors were unintentional and that affected employees had since been reimbursed. The government said it would publish naming lists more frequently to encourage employers to comply and ensure workers receive the legal minimum wage, which rose to £12.71 an hour for workers aged 21 and over in April.

 

The Times

The sociologist Antonio Casilli has spoken with the Democracy Now website about the hidden workforce - primarily in the Global South - behind commercial AI. These workers perform repetitive work to train and maintain the systems, even though the technology is often presented as if it is autonomous. Casilli says public discussion about AI often focuses on future job threats, but the technology is already changing working conditions for millions of people, many of whom are in unstable, underpaid gig-style arrangements, precipitating demands for fair wages and employment protections.

 

Yahoo News Australia

Democracy Now