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New UK Fraud Industry Body Will Highlight the Cost of Fraud

PKF Littlejohn and Experian to revive the government’s fraud cost estimate.  UK’s only indicator on the total cost of fraud to be launched this year.  A new industry body has been set up to highlight the cost of fraud to UK businesses, charities and the public. The UK Fraud Cost Measurement Committee will seek to revive and enhance the government’s previous Annual ... Read More »

Russian Risk Climate: Due Diligence Highly Recommended

Russian Tax Authorities recommend conducting due diligence when contracting with new counterparties Corporations and proprietors are often faced with additional VAT and income tax charges due to insufficient Due Diligence when dealing with fraudulent companies (in Russia, ‘fly-by-night’ is a common term used for such entities). Many such entities are involved in tax scams, which prompted the Russian tax authorities ... Read More »

Australian Risk Climate: Near-term Price Expectations have Dropped Sharply

Near-term price expectations have dropped sharply, with persistent moderate activity in the economy leading more businesses to reconsider the level at which they sell their goods and services. Reflecting soft official inflation data, Dun & Bradstreet’s latest Business Expectations Survey reveals that the Selling Price Expectations Index for the third quarter has dropped to 14.5 points, down from 24 points ... Read More »

Country Risk Climate:  The Number of Troubled Companies on the Rise

Number of Troubled Companies Rise in Latest Default Risk Study – Greece and United Stated dominated A monthly study tracking the probability of defaults among companies rose to its highest level in several months in June. The dubious list was dominated by companies based in Greece and the United States. An index tracking the percentage of companies with a default ... Read More »

Postrecession Start-Ups have Decreased 44.7 Percent

Experian® announced that the number of businesses started each year after the recession has decreased substantially — nearly 45 percent (44.7 percent).   According to an Experian analysis on business start-ups, in 2010 29.1 percent of all small businesses were newly formed, while in 2014 just 16.1 percent were start-ups. The analysis also found that the restaurant industry was the top ... Read More »

Anti-Money Laundering: Russian Tax Authorities to Access EU Country Central Registers

Russian Tax Authorities will get access to an EU Central Register of ultimate “beneficial” owners of corporate and other legal entities, as well as trusts.   A “beneficial” owner is defined as a person who actually owns or controls a company and its activities and ultimately authorizes transactions, whether such ownership is exercised directly or by a proxy. Russia has joined the ... Read More »

Country Risk Climates:  Trends to Keep an Eye On

Denmark – more controls on immigrants, more plebiscites; Jamaica – the bond rating agencies are optimistic; Moldova – a staggering level of graft and corruption; Tanzania – borrowing to replace aid. ANGOLA:  Now that the impact of the global fall in oil prices is being fully felt, dollars are scarce, which has led to remittance delays, and the government has ... Read More »

USA Risk Climate: Small Business Optimism Reaches ‘Normal’ Level

The G20, the EU and other SME institutions bemoan the fact that SMEs have difficulties in accessing finance and thus retarding growth.  The surprising fact is that in the US only 4% of owners of businesses had problems in financing their operations.  The majority stated that they did not need access to finance! The National Federation of Independent Businesses’ (NFIB) ... Read More »

Country Risk Climates:  Trends to Keep an Eye On

Burundi – new election deadlines and more violence; China – growing international use of the yuan; Greece – down to the wire; Uzbekistan – unusually volatile black currency market. CANADA:  Extreme weather and the global oil price drop hit the economy in the first quarter. While the weather effect is passing, oil will have a negative influence for some time. ... Read More »

Internet Services Market in Russia – Review 2014

According to The Russian Association for Electronic Communications (RAEC), the Runet’s (Russian term for Internet in Russian language) aggregate revenue 2014 is approximately at the level of 2013 amounting to about 14.6 million EURO. The revenue of Internet dependent segments such as Internet access providers, e-commerce etc. has grown from 76 million EURO to 102 million EURO.  According to experts, ... Read More »

Arachnys Launches Brazil Country Audit

A practical guide to Brazil’s data and regulatory landscape As regulators demand greater sophistication from AML and compliance operations, global institutions are having to up-skill their teams and develop strategies to keep on top of developing regulatory and data landscapes. While many companies are able to build diverse teams of country specialists resembling a ‘mini United Nations’ within compliance departments, ... Read More »

Country Risk Climates: Trends to Keep an Eye On

Brazil – putting the inflation fight ahead of economic stimulation; Chile – downward revised predictions; Ecuador – banks now must accept the dinero electronico; Greece – brinkmanship down to the wire. ARGENTINA:  There is less optimism now that whoever replaces Pres. Fernandez in the October elections will be able to liberalize regulations and turn the economy around quickly. Meanwhile, the ... Read More »

Australian Risk Climate: Business Demand Shows Signs of Improvement

Veda Quarterly Business Credit Demand Index: Business credit demand shows signs of improvement (BCDI Jan to March 2015) Veda Quarterly Business Credit Demand Index, measuring applications for business loans, trade credit and asset finance, rose at an annual rate of 2.4% in the March 2015 quarter. The increase reflected significant rises in business loan applications (+7.8%) and asset finance applications ... Read More »

Credit Management:  Internal Knowledge of Country’s Culture Key to Success in Global Business

When considering expanding into the international market, it is essential for credit professionals to have a clear understanding of the values and cultures of a country’s business environment. That was a key takeaway during the breakout session, “Going Global,” at NACM’s 119th annual Credit Congress in St. Louis from May 17-20. “It’s culture, communication, regulation and currency,” said Gent Culver, ... Read More »

Russia Intends to Launch a Bad Debt Bank

The Russian Government is reconsidering the idea to launch a bank for bad debts. Such a financial institution will buy distressed assets of banks as well as debts of corporations. The new institution will become a brand new instrument created for resolution of debts that are classified as difficult to collect. In Europe and in the USA similar financial institutions ... Read More »

Veda Quarterly Consumer Credit Demand Index: Strongest Growth in Credit Card Cemand in almost a Decade

The Veda Quarterly Consumer Credit Demand Index, which measures the volume of credit card and personal loan applications processed through Veda’s Consumer Credit Bureau, saw a lift in consumer credit demand in the March quarter, with annual growth of  3.9% compared with the same period last year. Demand for credit cards, up +13.5% for the quarter, was offset by a -5.2% ... Read More »