The cocaine market exploded between 2014 and 2023. Production in Colombia increased more than sevenfold to nearly 2,700 tonnes, according to the United Nations Office on Drugs and Crime (UNODC). Behind the scenes, drug traffickers find equally illicit ways to pay their suppliers and foot soldiers, or to spend the proceeds of their criminal trade. Their solution? Money laundering. It is estimated that 25% of the funds collected is laundered. Criminals generally launder money in three stages: firstly, they inject it into the financial system; secondly, they layer it with…
Posts published in “World”
Few ideas in global finance generate as much anxiety as de-dollarization. To some Western observers, any attempt to reduce reliance on the US dollar is automatically framed as a political challenge to American power. Yet for much of the developing world, the conversation is far less ideological and far more practical. The push to diversify global payment systems and promote the use of local currencies is not about confrontation; it is a response to economic realities that many countries have lived with for decades. The dominance of the dollar has…
China has executed 11 members of a notorious mafia family that ran scam centres in Myanmar along its north-eastern border, state media report. The Ming family members were sentenced in September for various crimes including homicide, illegal detention, fraud and operating gambling dens by a court in China’s Zhejiang province. The Mings were one of many clans that ran the town of Laukkaing, transforming an impoverished backwater town into a flashy hub of casinos and red-light districts. Their scam empire came crashing down in 2023, when they were detained and…
On Thursday, US President Donald Trump once again turned on the klieg lights by launching a new major international initiative – the “Board of Peace.” Though this multilateral body is supposed to start with managing the post-conflict restoration and future development of the Gaza Strip, many argue that its real goal has a larger scale and might reflect the US president’s ambition to find an efficient alternative to the UN, which he shows no respect for. If the pilot Gaza project turns out to be a success story, this model…
Determined to push back against online falsehoods, the French state is turning to facts, humour and a new digital voice to challenge misleading narratives wherever they spread. France has set up a new digital rapid-response unit – titled “French Response” – to push back against what it sees as a rising tide of online disinformation, and it wasted little time making its presence felt. When the US secretary of state Marco Rubio took a swipe at European culture on X this week, the English-language account run by the French foreign…
Red flags that both job seekers and employers should watch for, in an era of AI slop and application scams. Hello world, My name is Andrew Losowsky, and I’m Product Director & Editor at The Markup and CalMatters. A few months ago, we wanted to hire a new engineer. Hiring is always a lengthy process, but this time I had to wade through what felt like an ocean of generative AI slop. Fake and exaggerated resumes have always existed, but now, thanks to the rise of AI tools, it’s incredibly…
Capitalism is driving ecological destruction and social upheaval. Is it a death cult, and can we escape it? We exist in a machine that is destroying the basis of life on the one planet we have to live on. This is commonly understood. Yet very little is done about it. Why? What are we to make of Sam Altman, the boss of OpenAI, saying in a 2023 interview: “AI will most likely lead to the end of the world, but in the meantime there will be great companies created with…