Photo Courtesy of Getty Images Money laundering involves transforming illegally obtained capital resources into legal financial mechanisms. With the expansion of international commerce brought on by globalization, this issue has developed into a global problem of immense scale, affecting nearly every jurisdiction and financial system. It destabilizes economic systems and aids in the expansion of illegal activities. It demands immediate attention and action.  Money laundering is estimated to total 2% to 5% of global GDP, accounting for trillions of dollars annually. The range of money laundering methods, from traditional ones like smuggling cash, to more sophisticated cases involving shell companies and cryptocurrencies, makes enforcement difficult. The complex character of international…

Photo Courtesy of Shutterstock With the upcoming presidential election in the United States, immigration has predictably resurfaced as a hot-button topic in the country. As always, much of the conversation revolves around the southern border and what is or isn’t being done to curtail entry. However, over the last year, another issue entered the immigration discussion, the use of immigrant child labor in factories across the United States. This topic garnished much attention with a series of New York Times articles reporting that many immigrant children were found to be working in hazardous conditions that violate U.S. child labor laws and undermine the United Nations’ Convention on the Rights of…

Photo Courtesy of Shutterstock Brief Introduction of Islamic BankingWith Muslims comprising 1.8 billion of the global population, there is a growing demand for products and institutions that align with Islamic law. One such institution is Islamic banking, which is built on the core principles of Sharia (Islamic law) to shape its financial systems. The cornerstone of Islamic banking is prohibiting interest or any monetary increase on the principal amount. Other principles that Islamic financial institutions must follow include avoiding uncertainty, speculative transactions, and trading in impermissible products such as alcohol. Islamic banking aims to satisfy the economic needs of Muslims and cater to other segments of global financial markets, all…

This blog post shall act as a brief survey of the ever-increasing role of technology as used in arbitration for international business disputes. In today’s interconnected world, where businesses operate across oceans and industries span continents, disputes are inevitable. As global trade grows, so does the need for efficient and effective dispute resolution mechanisms. From as early as the Jay Treaty of 1794—allowing compensation to the new republic for depredations against American shipping during the Revolutionary War—arbitration has been a preferred method of solving international commercial disagreements. Arbitration offers parties a neutral and flexible forum to settle disputes, and the digital age has revolutionized the way arbitration is conducted. To…

Photo Courtesy of Jade Gao via Getty Images What is Shein and Temu?E-commerce platforms have become a go-to destination for trendy and affordable clothing. Among the numerous online shopping websites, Temu and Shein have emerged as popular choices for fashion enthusiasts across the globe. Temu, a China-based company, was launched in the United States in September 2022. They offer a wide range of fashion products, including clothing, accessories and shoes for men, women, and children. Shein, another e-commerce platform, has rapidly gained popularity. Based in Singapore, this fast-fashion company has rapidly expanded into one of the largest online retailers for clothing, accessories, and beauty products, reaching approximately $45 billion in…

The social media website X, alongside its controversial owner Elon Musk, has recently entered a turbulent legal period across the world. Since August 31, 2024, it has been banned in Brazil after Musk opted to close X’s offices there rather than comply with a Supreme Court order. Meanwhile, in the European Union, the European Commission published preliminary findings discerning that X was in violation of the Digital Services Act (DSA). This paints a concerning picture of X’s longevity in international markets.  Musk bought X, at the time known as Twitter, in 2022. Since then, the platform has been enmeshed in a variety of legal and financial turmoil, the most recent…

The apprehension surrounding novel technology and the impact of it is not new; especially in cases where this introduction has had the tumult that Artificial Intelligence has endured. AI has served as an unnecessary boogeyman in the public consciousness. There is undoubtedly a potential unlike any other in this developing technology, yet we keep it at arm’s length. On the other hand, there is some warranted concern with such a powerful tool, but not from the tool itself. Like with any sea change in publicly available innovation, there will be those who abuse the gap between what is possible, and what has been legislated against. Inevitably, bad actors will use…

On April 1, 2024, the Syracuse University Journal of Internal Law and Commerce held their annual banquet for Volume 51. We spent time reflecting on our successful year, as well as discussing our vision for many more years to come! Additionally, we presented awards to individuals who displayed exceptional dedication to the Journal this past year. Congratulations to allow of our recipients. Award Recipients 2L of the Year: Sarah Smith 3L of the Year: Jennifer Arinze JILC Award: Michael Homme and Jessica Buffamonti L. Frederick E. Goldie Award: Andrew Castelletti, Leah Dawit, Eduardo Kreimerman Meyohas, and Lisa Phair Notes Selected for Publication: James Whitlow, Dana Krinsky, Emily Alexander, and Kurt…

Trademark is vital to the success of a business, protecting the recognizability and distinctiveness of a business’ name and preventing imitators from siphoning cash away from the original firm. But sometimes, quibbles over names, likenesses and branding can verge on absurd and drag on for years. The name Iceland has become synonymous with cold, fish and volcanic activity, making news with the latter recently. Situated on the Mid-Atlantic Ridge and over the meeting of two tectonic plates, Iceland is renowned for its seismic and volcanic activity, as well as its bitter cold winters. When thinking of the name “Iceland,” most of the world rightfully associates it with the country above,…