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Long after the January 10, 2020, deadline set by the European Union’s (EU) 5^th anti-money laundering directive (5AMLD) (1) for member states to establish public ultimate beneficial ownership (UBO) registers, a Transparency International (TI) report (2) has alleged widespread non-compliance.…

Corruption increased in 2020 across the 27 European Union (EU) countries according to 32% of participants in Transparency International’s latest survey of over 40,000 people, the ‘Global Corruption Barometer (GCB) – European Union 2021’ (1). As regards other respondents, 44% saw no change and only 16% a fall, year-on-year.…

Lie detection is an emerging science, with technology being developed to help companies and law enforcement seek to detect fraudsters and other criminals. Artificial intelligence is a potential key development in enabling machines to screen subjects physical and audible response to questions to detect lies.…

THE EUROPEAN Union (EU) has authorised its EUR181 million anti-fraud programme for 2021-27, with a regulation mandating this spending coming into force on April 29. The new seven-year programme will see EUR114 million spent on preventing and combating fraud, corruption and other financial crimes that can damage the overall EU budget.…

INTRODUCTION

The textile industry is one of the world’s oldest manufacturing sector, yet it is also one of the most dynamic, constantly reinventing itself. Today, the development of micro-factories might herald root-and-branch change in how the textile and clothing industry operates, a transformation driven by advances in digital textile printing.…

The Czech Republic’s digital textile printing business continued to thrive in 2020, with the Covid-19 pandemic’s e-commerce boom boosting trade rather than hampering the sector. Europe’s leading print-on-demand provider Spread Group, which was founded 18 years ago under the name Spreadshirt, and has a key plant in the Czech Republic, had a record year.…

The president of the United States Fashion Industry Association (USFIA) has warned that the military takeover in Myanmar could spark a significant shift in sourcing away from this south-east Asian country if democracy is not restored promptly. Julia Hughes told just-style: “If there is not a quick resolution, then yes we would expect a major shift to other Asian suppliers.”…

Many of European Union’s 27 member states appear to have been dragging their feet when implementing a key provision of the fifth anti-money laundering directive (5AMLD) (1), setting up a public ultimate beneficial ownership (UBO) register.  The registers should have gone live for the corporate world on January 10, 2020, and two months later on March 10 for trusts.…

The European Chief Prosecutor (ECP) of the embryonic European Public Prosecutor’s Office (EPPO) has challenged the 22 European Union (EU) states (1) that have signed up to an enhanced cooperation pact underpinning its existence to properly fund the new institution. Without enough money, the EPPO will not be effective, ECP Laura Codruţa Kövesi told Fraud Intelligence.…

THE EUROPEAN Union (EU) continues to struggle to clamp down on fraud within its revenue collection and spending programmes – making progress, but with major scams still emerging within the EU’s complex international decision-making systems.

In its latest annual ‘fight against fraud’ report (1) (2), covering 2019, the European Commission reports that 939 discovered irregularities were reported as fraudulent (8% of the number), involving EUR461.4 million in lost money (28% of that affected by irregularities).…