Latest news with #TF
Korea Herald
03-08-2025
- Business
- Korea Herald
Major S. Korean shipbuilders launch joint task force for massive US investment project
Major South Korean shipbuilders have launched a joint task force to support the government's cooperation with the United States under a recently agreed-upon large-scale investment project in the US shipbuilding sector, officials said Sunday. The top three shipbuilders -- HD Hyundai Heavy Industries Co., Hanwha Ocean Co. and Samsung Heavy Industries Co. -- along with the Korea Shipbuilding & Offshore Engineering Association, have formed the TF and held an inaugural meeting recently, according to company officials. Their focus will be on supporting the "Make American Shipbuilding Great Again" initiative, under which the Seoul government has proposed investing $150 billion in the US shipbuilding industry. It was part of a broader $350 billion investment package in the US in exchange for Washington's lowering of reciprocal tariffs on South Korean imports to 15 percent from the initial 25 percent. "There will be various ways to implement the Korea-US shipbuilding cooperation, and the TF aims to support and facilitate those efforts," an official said. "The industry is working together with the government for the MASGA project through this task force." The envisioned investment represents the largest single-industry fund in the package and is structured primarily to support Korean shipbuilders' investments in the US through public finance. The MASGA project includes plans to build new shipyards in the US, train shipbuilding personnel and rebuild related supply chains, as well as build American ships and cooperate on maintenance, repair and overhaul projects, according to the Seoul government. But details are still being finalized. The entity plans to intensify discussions on the project starting in mid-August, following the industry's summer vacation period. "The TF could serve as a channel for collecting the industry's demands and delivering them to the government," the official added. (Yonhap)
Scotsman
02-08-2025
- Automotive
- Scotsman
MG Cyberster review – electric roadster with style, speed and quirks
MG's new Cyberster is a lovely thing to behold | MG Motor This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement. MG returns to its roadster roots with a striking electric convertible that's stylish, fast and surprisingly refined - Gareth Butterfield tests the new Cyberster Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... When the 80-year-old British car maker MG re-emerged from a chrysalis to become the Chinese-owned MG Motor UK, there wasn't a petrolhead on the planet that wasn't drooling over the prospect of a new range of lightweight sports cars. But instead the Birmingham brand's resurrection yielded little more than some mediocre hatchbacks, and then some reasonably forgettable SUVs. But MG has been quietly improving its cars with every launch, and some of them are extremely credible options, especially the MG4. And, at long last, MG is using this momentum to launch its first two-seater sports car since the TF. Unlike the TF, which was lightweight, mid-engined, and pretty inexpensive, this new "Cyberster" is heavy, complicated, fully electric and prices start at around £55,000. Yes, that's right, you can buy a Porsche Boxster for that. It's pretty from every angle, ad bigger than it looks in images | MG Motor But the Cyberster isn't like other two-seater sports cars. The first thing to get your head around is that it's fully electric. And it's basically the first fully electric roadster we've been able to buy since Tesla appeared on the scene with a madly expensive Lotus Elise clone. And because it's electric, it's quite heavy. So it isn't really all that sporty and it's more of a grand tourer, then. More in line with a Mercedes SL, in fact. And they cost twice the price. It's also utterly gorgeous, in case you hadn't noticed. The large front end, small cockpit set back towards the rear wheels, and the abruptly squared-off rear make it look really rather British, and it has scissor doors. I don't really know why; it doesn't need them, they don't perform any useful function, but my goodness they're awesome. You'll never tire of getting in and out of the Cyberster, and electrically raising them at the touch of a button. It's absolutely lovely inside, too. There are four displays draped around the cabin, a very comfortable pair of seats, and all the materials feel plush and expensive. It couldn't be a further cry from the MG 6 that first emerged from the MG ashes back in 2011. The scissor doors are quite the party piece | MG Motor It's also very fast. There are two versions; a rear-wheel-drive Trophy with 335bhp, or a GT with all-wheel-drive and almost 500bhp. This means the GT can accelerate to 60mph in just 3.2 seconds. They each use a 77kWh battery, which gives a claimed range of 316 miles in the Trophy and 276 miles in the GT, and it's brimming with modern tech and gadgets. On the face of it, then, the Cyberster is better than we could have hoped for, as we sat salivating over news of a new MG roadster. But there are issues. The biggest issue is in the four digital displays. It all looks seriously impressive when you sink into the cabin, but it only takes a few miles of driving to realise that they're just needlessly complicated and really quite annoying. The main driver's display is fine, that's centrally mounted and easy to understand. And there's also a screen on the centre console which does a fairly complicated job of bundling in the basics, including climate control. Irritating not to have buttons, but standard fayre at the moment. Then there are two other small displays, either side of the steering wheel. They're controlled with buttons and joysticks on the wheel itself, but the menu systems - especially on the right-hand screen - are complex and fiddly. And each screen works in a different way. And each screen is obscured by the steering wheel. The interior is lovely, but the four screens are a bit of a tech overload | MG Motor It's an exercise in digital overengineering. Navigating the options on this many displays while you're driving a car with 500bhp is downright dangerous and, even when you get used to where everything is and you've built up some muscle memory, you'll still have to take your eyes off the road for a bit too long to perform basic functions and, if you do, the car's driver alertness monitoring system will tell you off. The boot's a bit small, too. Not too bad in roadster terms at 249 litres, but the floor's quite shallow. And then there's the slightly awkward fact that the Cyberster weighs the best part of two tonnes. That's becoming forgivable in hatchbacks these days, but it does not make for a sporty drive. Happily, though, the rides is terrific, and the effortless power delivery coupled with a silent drivetrain makes for rather serene cruising, even if you're pushing on a bit. This isn't a car for B-road blasting, then. But for long journeys, even with a few tasty corners thrown into the mix, it's brilliant. Drive it more sensibly and you won't just be rewarded with a pleasant journey, you'll get fairly decent efficiency too. Topping 3 mi/kWh isn't difficult in the Cyberster and, while you'd struggle to get it too high, it does mean the range is well north of 200 miles, even if you're quite lead-footed. The roof lowers at speeds of up to 60mph, which is really handy | MG Motor The Cyberster also gets MG's impressive seven-year warranty and lease deals look pretty good, so it's going to be a viable option for anyone who wants to save some money and still have some open-top fun. When MG launched the MG4 it took us all by surprise. It's a remarkably good hatchback and its popularity is well deserved. Don't expect the Cyberster to be such a familiar sight on the roads, but anyone who does buy one will be enjoying a pretty unique offering in the automotive world - an electric roadster with a gorgeous design, show-stopping doors, and a genuinely luxurious interior. It might not be the sports car we've all been waiting for, but that doesn't mean it isn't really, really good. Canva Get beach-ready with MySweetSmile's gentle teeth whitening range £ 20.99 Buy now Buy now Sunshine, selfies and holiday cocktails – summer is here, and so are all the moments you'll want to capture with a glowing smile. Whether you're jetting off for a beach escape or heading to a sunny staycation, MySweetSmile can help you look your best. This UK best-seller offers peroxide-free, gentle whitening that works its magic without harsh ingredients or faff. Their powder is perfect for whitening before take-off, while the handy on-the-go pen is great for keeping your smile photo-ready poolside. Shop the full MySweetSmile summer-ready range here.
NDTV
08-07-2025
- Business
- NDTV
E-Commerce Platforms, Online Payments Abused For Terror Financing: Watchdog
New Delhi: Global terror financing watchdog FATF on Tuesday cited the February 2019 Pulwama terror attack, which killed 40 CRPF personnel, and the 2022 Gorakhnath Temple incident to say that e-commerce platforms and online payment services are being misused for terror financing. In its 'Comprehensive Update on Terrorist Financing Risks', the FATF also flagged 'state sponsorship of terrorism' and said a variety of publicly available sources of information and delegations' inputs to this report indicate that "certain terrorist organisations have been and continue to receive financial and other forms of support from several national governments". "Delegations reported on this trend by referring to the use of state sponsorship for TF (terror financing) either as fundraising technique or as part of the financial management strategy of the certain organisations engaging in terrorist acts. Several forms of support have been reported, including direct financial support, logistical and material support, or the provision of training," the Financial Action Task Force (FATF)said. In June, the FATF, while condemning the April 2025, Pahalgam terror attack, in which 26 people killed, and saying such attacks would not have been possible without financial support, had said it would come out with a "comprehensive analysis of terrorist financing", compiling cases provided by its global network consisting 200 jurisdictions. Giving the case study of use of e-commerce platform for procurement of materials for terrorist attack in India, the FATF said a key component of the improvised explosive device used in the attack -- aluminum powder -- was procured through the EPOM Amazon. This material was used to enhance the impact of the blast. In February 2019, a suicide bombing targeted a convoy of Indian Security forces in Pulwama in Jammu & Kashmir, resulting in the deaths of 40 soldiers. India's authorities concluded that the attack was orchestrated by Jaish-I-Mohammed (JiM). As a result of the investigation, 19 individuals were charged under relevant provisions of the Unlawful Activities (Prevention) Act, including sections related to TF. Among those charged were seven foreign nationals, including the suicide bomber. LEAs also recovered moveable and immovable assets connected to the attack, such as vehicles and terrorist hideouts. Indian authorities have repeatedly highlighted Pakistan's persistent support for terrorism and its funnelling of multilateral funds for arms procurement. India has consistently held that Pakistan has given safe haven to designated terrorists and according to sources, India views that such action by Pakistan warrants that the country be put in the "grey list" of the FATF. The FATF report flagged that terrorists have been abusing e-commerce platforms and online marketplaces and said terrorists have used such platforms for their operational procurement (equipment, weapons, chemicals, 3D-printing material). EPOMs can also be used by terrorists to sell items to finance their projects and operations, including lower value items that were previously not in demand. "EPOMs can be used for fund-moving purpose inspired by trade-based money laundering schemes. Traded goods can indeed offer disguise to value being transferred from an accomplice to another member of the network. In such scheme, the first actor would purchase items, send them to his accomplice through an EPOM, for the latter to sell items in another jurisdiction and use profit to finance terrorism," the FATF said. The FATF in its update on TF risks also highlighted the methods used to raise, move, and manage funds and other assets for terrorist financing purposes and said online fund transfers using payment services platform offer less traceability and transparency compared to wire-transfer, making it harder to clearly identify initiators and recipients of transfers. Giving a case study on the use of online payment service and VPNs to fund lone actor terrorist act, the FATF cited the April 3, 2022, Gorakhnath Temple attempted breach incident wherein an individual, influenced by Islamic State in Iraq and the Levant (ISIL) ideology, attacked security personnel leading to immediate arrest. The financial investigation revealed that the individual transferred Rs 669,841 (USD 7,685) via PayPal to foreign countries in support of ISIL, using international third-party transactions and using VPN services to obscure the IP address. He also received Rs 10,323.35 (USD 188) from a foreign source. Further financial scrutiny uncovered that the accused had made a payment to a VPN provider through his bank account to secure these services. A comprehensive analysis of the accused's PayPal transactions, obtained via email, indicated that about 44 international third-party transactions totalling Rs 669,841 (approximately USD 7,736) had been made to foreign accounts. Additionally, the accused received funds from a foreign account through PayPal. The investigation also uncovered that the accused had sent money to multiple individuals identified as ISIL followers in foreign jurisdictions to support terrorist activities. "Due to the suspicious nature of these transactions and the potential for TF, PayPal suspended the accused's account, thereby preventing further illicit fund transfers," the FATF said in the case study as sourced from India's finance ministry. "As the offer of online payment services from Fintech companies grew substantially over the last 10 years, cases of terrorists opting for those services can be observed across all contexts, especially as it offers an opportunity to diversify fund-moving channels. "These payment services also appear attractive for terrorist organisations for the low-cost and fast money transfer solutions they offer, with possibility for enhanced opacity on initiators and beneficiaries through pseudonyms or fake accounts," the FATF said. The FATF said Europol assesses that services are commonly used across all types of terrorist organisations. In cases involving small terrorist cells, FTFs (Foreign Terrorist Fighter), and other individual terrorists, P2P payment services have been used for procurement of military equipment, chemical components, or propaganda materials on e-commerce platforms (EPOMs). Delegations also report that EoRMT (Ethnically or Racially Motivated Terrorism) groups use peer-to-peer payment systems to sell merchandising, items conveying extremist ideologies (books, music, clothes) to sympathisers, constituting a central source of revenue for those organisations. "Such online payment services can also be used to convey donations to larger organisations, especially in the extent that some payment mechanisms are directly integrated into social networks and content hosting services. In those cases, a single platform can be used to recruit donators, launch a crowdfunding campaign, and proceed to the transfer of funds through an online payment service. "As it was mentioned regarding credit cards, online payment services offer less traceability and transparency compared to wire-transfer, making it harder to clearly identify initiators and recipients of transfers," it added.
Economic Times
08-07-2025
- Business
- Economic Times
E-comm platforms, online payments services being abused for terror financing: FATF
TIL Creatives Representational Global terror financing watchdog FATF on Tuesday cited the February 2019 Pulwama terror attack, which killed 40 CRPF personnel, and the 2022 Gorakhnath Temple incident to say that e-commerce platforms and online payment services are being misused for terror financing. In its 'Comprehensive Update on Terrorist Financing Risks', the FATF also flagged 'state sponsorship of terrorism' and said a variety of publicly available sources of information and delegations' inputs to this report indicate that "certain terrorist organisations have been and continue to receive financial and other forms of support from several national governments". "Delegations reported on this trend by referring to the use of state sponsorship for TF (terror financing) either as fundraising technique or as part of the financial management strategy of the certain organisations engaging in terrorist acts. Several forms of support have been reported, including direct financial support, logistical and material support, or the provision of training," the Financial Action Task Force (FATF)said. In June, the FATF, while condemning the April 2025, Pahalgam terror attack, in which 26 people killed, and saying such attacks would not have been possible without financial support, had said it would come out with a "comprehensive analysis of terrorist financing", compiling cases provided by its global network consisting 200 jurisdictions. Giving the case study of use of e-commerce platform for procurement of materials for terrorist attack in India, the FATF said a key component of the improvised explosive device used in the attack -- aluminum powder -- was procured through the EPOM Amazon. This material was used to enhance the impact of the blast. In February 2019, a suicide bombing targeted a convoy of Indian Security forces in Pulwama in Jammu & Kashmir, resulting in the deaths of 40 soldiers. India's authorities concluded that the attack was orchestrated by Jaish-I-Mohammed (JiM). As a result of the investigation, 19 individuals were charged under relevant provisions of the Unlawful Activities (Prevention) Act, including sections related to TF. Among those charged were seven foreign nationals, including the suicide bomber. LEAs also recovered moveable and immovable assets connected to the attack, such as vehicles and terrorist hideouts. Indian authorities have repeatedly highlighted Pakistan's persistent support for terrorism and its funnelling of multilateral funds for arms procurement. India has consistently held that Pakistan has given safe haven to designated terrorists and according to sources, India views that such action by Pakistan warrants that the country be put in the "grey list" of the FATF. The FATF report flagged that terrorists have been abusing e-commerce platforms and online marketplaces and said terrorists have used such platforms for their operational procurement (equipment, weapons, chemicals, 3D-printing material). EPOMs can also be used by terrorists to sell items to finance their projects and operations, including lower value items that were previously not in demand. "EPOMs can be used for fund-moving purpose inspired by trade-based money laundering schemes. Traded goods can indeed offer disguise to value being transferred from an accomplice to another member of the network. In such scheme, the first actor would purchase items, send them to his accomplice through an EPOM, for the latter to sell items in another jurisdiction and use profit to finance terrorism," the FATF said. The FATF in its update on TF risks also highlighted the methods used to raise, move, and manage funds and other assets for terrorist financing purposes and said online fund transfers using payment services platform offer less traceability and transparency compared to wire-transfer, making it harder to clearly identify initiators and recipients of transfers. Giving a case study on the use of online payment service and VPNs to fund lone actor terrorist act, the FATF cited the April 3, 2022, Gorakhnath Temple attempted breach incident wherein an individual, influenced by Islamic State in Iraq and the Levant (ISIL) ideology, attacked security personnel leading to immediate arrest. The financial investigation revealed that the individual transferred Rs 669,841 (USD 7,685) via PayPal to foreign countries in support of ISIL, using international third-party transactions and using VPN services to obscure the IP address. He also received Rs 10,323.35 (USD 188) from a foreign source. Further financial scrutiny uncovered that the accused had made a payment to a VPN provider through his bank account to secure these services. A comprehensive analysis of the accused's PayPal transactions, obtained via email, indicated that about 44 international third-party transactions totalling Rs 669,841 (approximately USD 7,736) had been made to foreign accounts. Additionally, the accused received funds from a foreign account through PayPal. The investigation also uncovered that the accused had sent money to multiple individuals identified as ISIL followers in foreign jurisdictions to support terrorist activities. "Due to the suspicious nature of these transactions and the potential for TF, PayPal suspended the accused's account, thereby preventing further illicit fund transfers," the FATF said in the case study as sourced from India's finance ministry. "As the offer of online payment services from Fintech companies grew substantially over the last 10 years, cases of terrorists opting for those services can be observed across all contexts, especially as it offers an opportunity to diversify fund-moving channels. "These payment services also appear attractive for terrorist organisations for the low-cost and fast money transfer solutions they offer, with possibility for enhanced opacity on initiators and beneficiaries through pseudonyms or fake accounts," the FATF said. The FATF said Europol assesses that services are commonly used across all types of terrorist organisations. In cases involving small terrorist cells, FTFs (Foreign Terrorist Fighter), and other individual terrorists, P2P payment services have been used for procurement of military equipment, chemical components, or propaganda materials on e-commerce platforms (EPOMs). Delegations also report that EoRMT (Ethnically or Racially Motivated Terrorism) groups use peer-to-peer payment systems to sell merchandising, items conveying extremist ideologies (books, music, clothes) to sympathisers, constituting a central source of revenue for those organisations. "Such online payment services can also be used to convey donations to larger organisations, especially in the extent that some payment mechanisms are directly integrated into social networks and content hosting services. In those cases, a single platform can be used to recruit donators, launch a crowdfunding campaign, and proceed to the transfer of funds through an online payment service. "As it was mentioned regarding credit cards, online payment services offer less traceability and transparency compared to wire-transfer, making it harder to clearly identify initiators and recipients of transfers," it added.
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Business Standard
08-07-2025
- Business
- Business Standard
E-comm, online payment platforms being abused for terror financing: FATF
Global terror financing watchdog FATF on Tuesday cited the February 2019 Pulwama terror attack, which killed 40 CRPF personnel, and the 2022 Gorakhnath Temple incident to say that e-commerce platforms and online payment services are being misused for terror financing. In its 'Comprehensive Update on Terrorist Financing Risks', the FATF also flagged 'state sponsorship of terrorism' and said a variety of publicly available sources of information and delegations' inputs to this report indicate that "certain terrorist organisations have been and continue to receive financial and other forms of support from several national governments". "Delegations reported on this trend by referring to the use of state sponsorship for TF (terror financing) either as fundraising technique or as part of the financial management strategy of the certain organisations engaging in terrorist acts. Several forms of support have been reported, including direct financial support, logistical and material support, or the provision of training," the Financial Action Task Force (FATF) said. In June, the FATF, while condemning the April 2025, Pahalgam terror attack, in which 26 people killed, and saying such attacks would not have been possible without financial support, had said it would come out with a "comprehensive analysis of terrorist financing", compiling cases provided by its global network consisting 200 jurisdictions. Giving the case study of use of e-commerce platform for procurement of materials for terrorist attack in India, the FATF said a key component of the improvised explosive device used in the attack -- aluminum powder -- was procured through the EPOM Amazon. This material was used to enhance the impact of the blast. In February 2019, a suicide bombing targeted a convoy of Indian Security forces in Pulwama in Jammu & Kashmir, resulting in the deaths of 40 soldiers. India's authorities concluded that the attack was orchestrated by Jaish-I-Mohammed (JiM). As a result of the investigation, 19 individuals were charged under relevant provisions of the Unlawful Activities (Prevention) Act, including sections related to TF. Among those charged were seven foreign nationals, including the suicide bomber. LEAs also recovered moveable and immovable assets connected to the attack, such as vehicles and terrorist hideouts. Indian authorities have repeatedly highlighted Pakistan's persistent support for terrorism and its funnelling of multilateral funds for arms procurement. India has consistently held that Pakistan has given safe haven to designated terrorists and according to sources, India views that such action by Pakistan warrants that the country be put in the "grey list" of the FATF. The FATF report flagged that terrorists have been abusing e-commerce platforms and online marketplaces and said terrorists have used such platforms for their operational procurement (equipment, weapons, chemicals, 3D-printing material). EPOMs can also be used by terrorists to sell items to finance their projects and operations, including lower value items that were previously not in demand. "EPOMs can be used for fund-moving purpose inspired by trade-based money laundering schemes. Traded goods can indeed offer disguise to value being transferred from an accomplice to another member of the network. In such scheme, the first actor would purchase items, send them to his accomplice through an EPOM, for the latter to sell items in another jurisdiction and use profit to finance terrorism," the FATF said. The FATF in its update on TF risks also highlighted the methods used to raise, move, and manage funds and other assets for terrorist financing purposes and said online fund transfers using payment services platform offer less traceability and transparency compared to wire-transfer, making it harder to clearly identify initiators and recipients of transfers. Giving a case study on the use of online payment service and VPNs to fund lone actor terrorist act, the FATF cited the April 3, 2022, Gorakhnath Temple attempted breach incident wherein an individual, influenced by Islamic State in Iraq and the Levant (ISIL) ideology, attacked security personnel leading to immediate arrest. The financial investigation revealed that the individual transferred ₹669,841 ($7,685) via PayPal to foreign countries in support of ISIL, using international third-party transactions and using VPN services to obscure the IP address. He also received ₹10,323.35 ($188) from a foreign source. Further financial scrutiny uncovered that the accused had made a payment to a VPN provider through his bank account to secure these services. A comprehensive analysis of the accused's PayPal transactions, obtained via email, indicated that about 44 international third-party transactions totalling ₹669,841 (approximately $7,736) had been made to foreign accounts. Additionally, the accused received funds from a foreign account through PayPal. The investigation also uncovered that the accused had sent money to multiple individuals identified as ISIL followers in foreign jurisdictions to support terrorist activities. "Due to the suspicious nature of these transactions and the potential for TF, PayPal suspended the accused's account, thereby preventing further illicit fund transfers," the FATF said in the case study as sourced from India's finance ministry. "As the offer of online payment services from Fintech companies grew substantially over the last 10 years, cases of terrorists opting for those services can be observed across all contexts, especially as it offers an opportunity to diversify fund-moving channels. "These payment services also appear attractive for terrorist organisations for the low-cost and fast money transfer solutions they offer, with possibility for enhanced opacity on initiators and beneficiaries through pseudonyms or fake accounts," the FATF said. The FATF said Europol assesses that services are commonly used across all types of terrorist organisations. In cases involving small terrorist cells, FTFs (Foreign Terrorist Fighter), and other individual terrorists, P2P payment services have been used for procurement of military equipment, chemical components, or propaganda materials on e-commerce platforms (EPOMs). Delegations also report that EoRMT (Ethnically or Racially Motivated Terrorism) groups use peer-to-peer payment systems to sell merchandising, items conveying extremist ideologies (books, music, clothes) to sympathisers, constituting a central source of revenue for those organisations. "Such online payment services can also be used to convey donations to larger organisations, especially in the extent that some payment mechanisms are directly integrated into social networks and content hosting services. In those cases, a single platform can be used to recruit donators, launch a crowdfunding campaign, and proceed to the transfer of funds through an online payment service. "As it was mentioned regarding credit cards, online payment services offer less traceability and transparency compared to wire-transfer, making it harder to clearly identify initiators and recipients of transfers," it added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
