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Recent Editions
Risk Channel
North America
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.
Full Issue
Risk Channel
UK/Europe
Volkswagen's supervisory board has approved a transformation plan that will see around 50,000 jobs being cut, in addition to a 50,000-job reduction already under way. The plan, which is the most extensive restructuring in the automaker's 89-year history, includes exploring alternatives for four plants in Emden, Zwickau, Neckarsulm and Hannover. The company said the changes are necessary amid rising global competition, shifting demand, and technological advancements. Volkswagen aims for an operating margin of 9% by 2030, up from 3.8% in H1 2026. "This is a strong signal for the future of the Volkswagen Group. We are taking responsibility for our entire workforce, for our partners and for industrial jobs worldwide," CEO Oliver Blume said. Asset manager Union Investment has warned that VW's credit rating could be cut to 'junk' status unless it cuts costs.
Full Issue