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Arabian Business
14-07-2025
- Business
- Arabian Business
Why Gulf ports must rethink risk to maintain commercial advantage
In today's fast-changing world of maritime logistics, port security is no longer just about protecting access. It has become a critical driver of operational speed, national resilience and economic performance. As global trade volumes rise and criminal threats evolve, Gulf ports must rethink how they manage risk without obstructing flow. The ports that will lead in 2026 and beyond will be defined by three principles. They will be smart, they will be secure, and they will be green. These are not just trends rather strategic imperatives for the next generation of global logistics. Smart security is targeted security Smart ports are not just high-tech ports. They are intelligent systems built around rapid risk identification. The real advantage of artificial intelligence is not in automating everything, but in knowing what to flag and when. If used properly, AI will help security teams focus on what matters most and reduce unnecessary checks. Crucially, AI does not replace people. It supports them. In an era where criminal networks are increasingly targeting port workers for intimidation or recruitment, the human layer alone is not enough. AI-enabled systems provide an invisible layer of protection. They detect what might be missed and make it much harder for criminals to game the system. However, smart does not mean invincible. Without solid business continuity plans and well-tested contingency measures, ports risk over-reliance on digital infrastructure. The outage at Heathrow earlier this year made it clear. Technology without viable contingencies can bring operations to a halt. Security convergence builds resilience Security cannot live in silos. It must converge. That means blending physical security, technical systems and digital monitoring into a single command structure. This approach enables faster responses, greater cohesion, and reduces confusion during incidents or crises. But convergence should not stop at security. The next frontier is organisational convergence. Every department in the port environment, from health and safety to HR to finance, must understand its role in protecting the operation. Integration is what makes a port agile. Without it, even the best tools will not deliver results. Too many organisations fail because their departments work in isolation. Ports cannot afford that kind of fragmentation. Security should be a shared responsibility across the entire enterprise. Compliance is not the finish line The ISPS (International Ship and Port Facility Security) Code offers an essential framework for international port security. But it was never meant to be the endpoint. Some ports treat it as a ceiling. In reality, it should be the starting line. Security audits that meet the minimum standard are not enough in today's risk environment. Ports need experienced and credible partners who can assess vulnerabilities, provide meaningful risk mitigation recommendations and help build resilience. A security partnership is key to blending international best practice with local environmental, cultural, and resource realities. The cost of getting it wrong can be significant, not just in money, but in reputation. Hidden threats are rising fast The most visible flashpoints in maritime security are well known. War in the Red Sea. Tensions in the Arabian and Black Seas. Yet some of the fastest-growing risks are not always on the latest geopolitical map. Drug smuggling, for example, has become a serious disruptor. The discovery of narcotics on board can lead to a vessel's detention, delay operations and trigger lengthy legal proceedings. Criminal groups have also grown more sophisticated. Insider threats, where crew or port workers are recruited or coerced, are now a real risk. Another overlooked issue is irregular migration. Many shipping companies are unaware of their legal obligations when they come across vessels in distress. They often lack protocols to handle such situations while ensuring the safety of their crew and assets. This is not an occasional problem. It is becoming more frequent and complex. The future is public-private collaboration There is a clear distinction between the responsibilities of state and private actors. Any role that resembles warfighting should always rest with the state. But the protection of trade, merchant shipping and critical infrastructure is a space where the private sector can offer value. Private security providers are often more flexible and cost-effective. They also have the industry expertise to tailor security to commercial realities. In the coming years, collaboration between private and public actors will become essential to achieving lasting resilience. The next must-have capability is AI maritime domain awareness By 2026, the most advanced ports and shipping companies will adopt integrated AI systems for maritime domain awareness. These platforms will link port operations, ship movements and threat indicators into one view. This will allow decision-makers to act quickly and with full information. More importantly, this will bring security convergence to life. It will connect physical infrastructure, digital monitoring and risk intelligence in real time. Technology exists however the only question is who will act first. Security is a foundation for growth To keep trade flowing, ports must treat security not as a regulatory requirement but as a competitive asset. In a world where criminal tactics are changing faster than ever, agility is not optional. Neither is integration. The winners will be those who plan for both. Smart. Secure. Green. These are the defining values of modern port strategy. Those who build around them will shape the next decade of maritime security leadership.
Finextra
07-07-2025
- Business
- Finextra
Anti-money laundering in transition: what's coming with AMLA – and how AI can help: By Roy Prayikulam
Every year, an estimated two to five percent of global gross domestic product is laundered through money laundering, amounting up to 2 trillion US dollars. In Germany alone, the figure is believed to be around 100 billion euros annually. The consequences are devastating: money laundering threatens the integrity of the financial system, distorts competition, and strengthens criminal networks. How will the new EU Anti-Money Laundering Authority (AMLA) intensify the fight against money laundering – and what part will AI play? This article shows how technology and regulation will work together in the future, and what financial institutions should be ready for. How the EU is reshaping its legal framework The European Union has begun a fundamental overhaul of its legal framework to combat money laundering and terrorist financing. From 2027, a cash limit of 10,000 euros is to apply across the EU in order to curb anonymous transactions. In addition, the Anti-Money Laundering Authority (AMLA) has been created as a central EU anti-money laundering authority. Starting from summer 2025, it will be responsible for the strategic management and coordination of national supervisory authorities, particularly in cross-border cases. As part of its duties, it will develop technical standards and procedures to ensure uniform Europe-wide requirements for combating money laundering, terrorist financing, and the application of financial sanctions. Increasing pressure on financial institutions These new guidelines and requirements will significantly heighten the pressure on financial institutions to act. With each new rule, it becomes clearer to financial institutions that the requirements for processes, documentation, and risk assessment in the prevention of money laundering are constantly increasing. Banks and payment service providers are already taking on key tasks in the fight against financial crime: The German Financial Supervisory Authority BaFin reports that over 90% of the 320,000 suspicious activity reports in 2023 came from the financial sector. At the same time, many institutions work with historically evolved IT landscapes in which KYC checks, transaction monitoring, and sanctions list comparisons run separately. This fragmentation makes it challenging to obtain a complete risk picture, especially for complex, cross-border cash flows. Added to this the sheer volume of data: Millions of transactions pass through systems every day, making it enormously time-consuming to correctly assess anomalies. Many compliance teams struggle with a flood of cases and a high rate of false-positive alerts that have to be checked manually. So how can these challenges be overcome? The financial sector needs new approaches to master the balancing act between stricter supervision and limited resources. AI in the prevention of money laundering The potential: This is where modern technology, such as Artificial intelligence (AI) comes into play as a key technology because conventional, purely rule-based systems are reaching their limits. AI-supported processes can recognize patterns faster and more precisely within huge amounts of data. Such intelligent systems learn from past cases, adapt to new money laundering methods, and significantly reduce false alarms. According to a McKinsey study, AI can increase the detection rate of suspicious transactions by up to 30% – a major advance in the face of limited compliance teams. In addition, modern AI platforms offer structural advantages: they bring together data from various compliance areas on one common platform (from customer profiles and transaction histories to screening results). This creates a consistent, dynamically updated risk profile for each customer. Hybrid approaches consisting of data-driven models and knowledge-based checks have proven particularly successful. In addition to providing the necessary traceability and explainability to ensure that AI decisions are accepted both internally and externally, they deliver better results. In this way, AI can be seamlessly integrated into existing control and governance structures, an important prerequisite for use in regulated institutions. Hurdles: Despite this potential, many institutions are still hesitant. Regulatory uncertainty is a key obstacle. Supervisory authorities have so far been reluctant to accept black box AI models, especially if their decision-making processes are difficult to understand. Many banks therefore lack guidance on how AI can be reconciled with applicable compliance requirements. Clear standards on the use of AI in AML processes are largely lacking: questions regarding explainability, documentation requirements, or the permissibility of certain model types are often unanswered. Out of caution, many financial institutions therefore prefer to stick with established but less powerful systems instead of implementing innovative AI solutions. AMLA as a trailblazer for innovation The new EU authority AMLA could resolve these blockades. As a central authority, it should not only directly supervise selected high-risk institutions. Above all, it should develop and enforce uniform technical standards. A harmonized, data-driven regulatory approach would reduce legal uncertainties in the use of AI and provide institutions with clear guidelines for the use of new technologies. AMLA has the potential to significantly accelerate the introduction of AI in money laundering prevention: Consistent rules and the active promotion of technological innovation can reduce existing hurdles. Institutions that are early adopters of AI could thus further extend their lead if AMLA creates a binding framework for everyone. Whether the AMLA will actually become the hoped-for catalyst for technological progress in the fight against money laundering remains to be seen. But the potential is recognizable. Conclusion and outlook The introduction of the AMLA does not mark a completely new start, but it does underline the existing trend: regulatory pressure continues to increase. For banks and payment service providers, it is no longer a question of whether they need to adapt their processes, but how quickly and specifically this can be done. Artificial intelligence is no longer a topic for the future. It is a concrete lever for increasing efficiency and quality in money laundering prevention. AI helps to identify risks earlier, streamline processes, and meet the increasing supervisory requirements. Solution providers support this change with tried-and-tested technologies and flexible platform approaches that can be seamlessly integrated into existing systems. With ever new regulations and growing transaction volumes, it is crucial to actively leverage such technological advances – not just to comply with regulations but as a strategic investment in the future viability of financial crime prevention. The course has been set. Now it is up to the industry to be proactive. Now is the right time to modernize your AML strategy and leverage the power of AI. Join the discussion: How are you preparing for the AMLA era, and what role will AI play in your money laundering prevention?
Telegraph
26-06-2025
- Health
- Telegraph
Interpol seizes erectile dysfunction and anti-anxiety medication
Erectile dysfunction and anti-anxiety medication were among the most common illegal pharmaceuticals seized by Interpol in a cluster of raids spanning 90 countries. Investigators retrieved £47 million worth of counterfeit or illegal medication as part of an operation codenamed Pangea XVII. From December 2024 to May, police arrested 769 suspected drug traffickers and dismantled 123 criminal gangs. Psychostimulants, anti-anxiety drugs and medications for Parkinson's disease topped the list as the most seized product type. Erectile dysfunction medicines were the second highest. In Britain, drugs seized included painkillers, antidepressants and sleeping pills. Australia recorded the largest seizures globally, with psychostimulants (drugs used to treat sleepiness) modafinil and armodafinil being the most common. This was followed by anti-smoking nicotine pouches and erectile dysfunction medicines. Ozempic -style weight loss drugs, such as semaglutide, and peptides used for bodybuilding and cosmetic enhancements were also seized in huge quantities. The ease of purchasing these drugs either via social media or from online marketplaces are making them rapidly grow in popularity. A single semaglutide pen may sell for several hundred US dollars on the black market, Interpol said. About 13,000 criminal-linked websites, social media pages, channels and bots used to market and sell illegal or falsified medicines have been shut down Criminal networks now view these drugs as 'lucrative and relatively low-risk opportunities' for selling poor quality or counterfeit products. Law enforcement agencies launched 1,728 investigations and issued 847 search warrants targeting criminal networks. Some 93 per cent of the illicit pharmaceuticals seized lacked regulatory approvals from national health authorities. The remaining 7 per cent were confirmed as either counterfeit, diverted, or misbranded products. Malaysia removed the greatest number of online listings (7,000), followed by Russia, Ireland, Singapore and Iran. The five countries collectively accounted for 96 per cent of all listings taken down. In Burkina Faso, 816,000 tablets including analgesics and anti-inflammatories were discovered hidden in vehicles. Mexican authorities intercepted benzodiazepine drugs including 27,000 clonazepam tablets and 20,000 alprazolam tablets passing through a courier facility in Tijuana. In Portugal, anabolic steroids were discovered in eight prisons across the country, unveiling evidence of a criminal network smuggling illicit substances into correctional facilities. 'Serious risk to public health' David Caunter, director pro tempore of organised and emerging crime at Interpol, said: 'Fake and unapproved medications are a serious risk to public health. They can include dangerous or illegal ingredients potentially resulting in severe illness, or even death 'The rapid growth of online platforms has made it easier for these unsafe drugs to reach people as well as opening new opportunities for criminal networks to exploit. 'Working together through Operation Pangea, countries are taking action to protect people's health and keep healthcare systems safe.'
CNA
26-06-2025
- CNA
Malaysia seizes US$1.6m in illegal health products during global Interpol crackdown
KUALA LUMPUR: Malaysian authorities have seized more than RM7 million (US$1.6 million) worth of illegal health products, as part of a global blitz targeting the online sale of illicit pharmaceuticals. These range from prescription drugs and over-the-counter supplements to traditional remedies. The sweep was part of Operation Pangea, an annual global bust coordinated by international police organisation Interpol. This time, a six-month effort across 90 countries resulted in the seizure of 50.4 million doses of illicit pharmaceuticals worth US$65 million, highlighting the alarming scale of the global trade in unapproved and counterfeit medicines, said Interpol on Thursday (Jun 26). Interpol's acting assistant director of criminal networks Alfonso Meijuto Rodriguez told CNA that the duration of this year's operation was extended to six months in order to gain a better understanding of the issue. 'In previous editions of Operation Pangea, which lasted over a week, we noticed that much more data and information needed to be collected for a deeper knowledge of the phenomena," he added. "So we decided to amplify the timeline.' Nervous system agents, including psychostimulants, anti-anxiety drugs, and medications for Parkinson's disease, topped the list as the most seized product type. Operation Pangea also saw the arrest of 769 suspects and the dismantling of 123 criminal groups worldwide. Interpol said that the seizures and arrests are the largest in the operation's 17-year history. In total, law enforcement agencies launched 1,728 investigations and issued 847 search warrants, it added. TIP-OFFS AND TAKEDOWNS Malaysian authorities said its enforcement action was prompted by public tip-offs submitted online. Mohd Zawawi Abdullah, director of the pharmacy enforcement division at Malaysia's Ministry of Health, said its public complaints management system allows people to report suspicious products or sales. 'Once we verified this complaint, our team moved in to carry out enforcement actions,' he said. Tens of thousands of boxes filled with illicit medicine were discovered by authorities in a raid across the Klang Valley region surrounding Kuala Lumpur. The sting targeted warehouses believed to be distribution hubs for the online trade of illegal pharmaceuticals. It also covered shophouses, and residential units where pharmaceuticals were being stored and repackaged illegally. Officers from the health ministry led the charge, alongside local authorities and Interpol. As part of the operation, authorities also intercepted travellers arriving at Kuala Lumpur International Airport with large quantities of unregistered medicine that far exceeded the amounts permitted under their prescriptions or visa durations. Hidden among personal items, the drugs were believed to be part of a wider network of imports disguised as personal use, but intended for sale. ONLINE TRADE Operation Pangea also saw the shutdown of approximately 13,000 criminal-linked websites, social media pages, channels, and bots used to market and sell illegal or falsified medicines. Interpol commended the efforts of various national authorities in monitoring and taking down the online listings. 'Malaysia and Singapore have been very active participants in this operation for years, with the steady shutdown of listings as an important component in the fight against pharmaceutical trafficking,' said Meijuto Rodriguez. Malaysia was responsible for 7,000 of the takedowns, the highest number recorded by any country. This was followed by Russia, Ireland, Singapore and Iran. The five countries collectively accounted for 96 per cent of all listings taken down. 'Unlike physical stores, online sellers can disappear or change the platform overnight, which makes our enforcement more complicated,' said Zawawi. 'Many people don't realise the risk of unregistered products and are easily misled by flashy advertisements or social media influencers.'
South China Morning Post
06-06-2025
- Business
- South China Morning Post
Can Southeast Asia contain growing threat of cyber scams?
As Southeast Asian leaders focus on navigating trade tariffs and the US-China rivalry, a growing threat to the region's economic resilience is being largely overlooked: the rise of billion-dollar cyber scam centres operating with impunity. These operations not only endanger financial stability and investor confidence, but are also eroding national sovereignty – all while exploiting the region's young, tech-savvy populations who are increasingly dependent on digital services. The scale of the problem was laid bare earlier when US authorities imposed financial restrictions on entities in Cambodia, Myanmar and the Philippines accused of enabling large-scale cyber scams. Officials alleged that billions of dollars had been laundered through loosely regulated digital payment networks and bulk IP infrastructure, facilitating schemes ranging from crypto investment fraud to hacks attributed to sanctioned state-linked groups. While the moves were hailed as a regulatory breakthrough, analysts warn it is a temporary win at best as the criminal networks behind these scams are highly mobile and adaptable, often resurfacing under different guises after enforcement actions. 08:49 The Chinese criminal gangs behind Southeast Asia's scam centres The Chinese criminal gangs behind Southeast Asia's scam centres According to an April report by the UN Office on Drugs and Crime, 'it is now increasingly clear that a potentially irreversible spillover has taken place in Southeast Asia, leaving criminal groups free to pick, choose, and move jurisdictions, operations, and value as needed.'
